Energy Ministry clarifies circumstances behind delay in unloading oil tanker: global price surge and financial obstacles are the main reasons

The following statement was issued by the media office of the Ministry of Energy and Water:

“‘Buq al-Laqlaqa’ and those behind it have once again resorted to distorting and selectively quoting facts in order to target the Minister of Energy and his team by alleging mismanagement of the oil facilities and waste in relation to the failure to unload the cargo of the oil tanker ‘BASILIS L,’ anchored off the Tripoli facilities. We therefore wish to clarify the following:

1- The shipment, amounting to 30,000 metric tons, was purchased by the ministry for the benefit of the military institution and the public sector.

2- It is the second batch under the public tender launched on 15/12/2025 in accordance with the provisions, terms, and annexes of the tender specifications. It should be noted that the delivery date was set when the tender was launched, before the outbreak of the war, at which time the shipment was priced at $24 million.

3- The award session was held and the administrative and technical bids were opened on 7/1/2026.

4- The shipment was loaded on 26/3/2026 and arrived in Lebanon on 28/3/2026.

5- The price per ton is determined according to the average global market price from five days before the shipment was loaded to five days after loading.

6- During this period, the war with Iran broke out, causing a massive global increase in fuel prices.

7- The window date, meaning the vessel’s arrival date, was set when the tender was launched, at which time the purchasing party had the shipment’s price available. However, whereas the estimated price had been around $24 million, it rose to about $51 million as a result of the global increase in fuel prices.

8- Securing this amount has been complicated by the difficulties the official financial authorities face in providing liquidity in foreign currency. It should be noted that, up to now, the shipment remains profitable for the facilities despite the costs of the unloading delay, compared with the current global market situation.

9- ‘Buq al-Laqlaqa’ overlooked the fact that tenders prior to this shipment had secured profits for the facilities and restored their financial health after his political camp had nearly bankrupted them.

Based on the above, the Ministry of Energy has done everything required of it and has committed no mismanagement or waste as alleged by ill-intentioned parties. We therefore expect the Ministry of Energy’s efforts, together with the relevant authorities, to succeed in securing the price difference in foreign currency so that the vessel can be unloaded at the beginning of next week.”