Tanker BASILIS L: Ministry of Energy Responds to Accusations of Waste

Issued by the Media Office of the Ministry of Energy and Water the following statement:

"The 'Gossip Mill' and those behind it have once again resorted to distorting and truncating facts in order to target the Minister of Energy and his team by claiming mismanagement of oil facilities and waste concerning the failure to discharge the cargo of the oil tanker 'BASILIS L' anchored off the Tripoli facilities. Therefore, we deem it important 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 of the public tender launched on 15/12/2025 in accordance with the provisions, terms, and appendices of the public tender specifications book.

Noting that the delivery date was set at the launch of the tender before the outbreak of the war, and at that time the price of the shipment was 24 million dollars.

3- The award session was held and the administrative and technical offers 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 by the average market price globally from five days before the shipment loading to five days after its loading.

6- The war with Iran erupted during this period, causing a massive global increase in fuel prices.

7- The window date, i.e., the arrival date of the ship, was set at the launch of the tender, and at that time the price of the shipment was available from the purchasing entity. However, after the estimated price was about 24 million dollars, it became about 51 million dollars due to the global rise in fuel prices.

8- Securing this amount faces complications due to the difficulties experienced by the official financial authorities in providing liquidity in foreign currency. Noting that so far the shipment remains profitable for the facilities despite the costs of the delay in discharge compared to today's global market reality.

9- The 'Gossip Mill' overlooked that the tenders prior to this shipment secured profits for the facilities and restored their financial health after his political team nearly bankrupted them.

Based on the foregoing, the Ministry of Energy has done everything required of it and has not committed any mismanagement or waste as claimed by those with ill intentions. Therefore, we expect that the efforts of the Ministry of Energy with the relevant authorities will succeed in securing the price difference in foreign currency to discharge the ship at the beginning of next week."