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The gasoline crisis that affected the Lebanese market in most regions for many reasons, including the limited opening of documentary credits directly related to the availability of hard currency reserves in the Central Bank. Upon the arrival of a gasoline tanker at the Zahrani oil facilities, which constitute only 12% of the market size at most; The real number of sales has been studied, based on a real market study, considering that the General Directorate of Petroleum is a sector regulator and is very reliable in correcting the imbalance and restoring the lost balance in terms of securing the market with fuel. Consequently, it was planned to sell two million liters on Wednesday 09/23/2020 based on objective criteria, including covering the deficit and not contributing at all to supporting any smuggling operation and giving priority to companies that have a wide range of gas stations to immediately reduce the crisis; The approved amount has already been delivered to 62 distribution companies approved by the Installations Department in terms of the actions granted to them.
The General Directorate of Petroleum – Petroleum Facilities invites, based on the principle of transparency, to review the web page of the establishments, where all the relevant information has been published; The Directorate of Facilities asks what would happen if it did not intervene in the market on Wednesday to help stop the rush to gas stations, to reaffirm its role as a guarantor in the interest of the consumer and the citizen.
Regarding bank guarantees, it is a purely administrative measure adopted since the establishments began to grant shares to distribution companies ten years ago. Consequently, financial guarantees are a condition of the conditions for licenses in accordance with the legal standard and a guarantor of the financial solvency of both the distribution companies and the establishments and state funds simultaneously. The Facilities Management highlights the need to keep pace with the security forces and the Ministry of Economy with the movement of sales in the market to emphasize the reference to the prevention of storage, smuggling and manipulation of the official prices included in the schedule weekly pricing. Note that the General Directorate of Petroleum – Petroleum Installations has suspended the shares of several companies for violating the sale at prices above the pricing schedule.
General Directorate of Petroleum – Facilities Department
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