Energy and Water Minister Walid Fayad chaired the signing ceremony for the renewal of the appointment of IPT as the official agent for Elf oils in Lebanon by Total Energies from the UAE. The event was attended by MPs Simon Abi Ramia and Ziad Hawat, the Director General of the Court of Audit Judge Fawzi Khames, Consul Marwan Khalab, the former General Director of Oil at the Ministry of Energy Auror Fghali, and other interested parties.
Adrian Bishouné, General Director and representative of Total Energies in Lebanon, signed on behalf of Total Energies, while Zakhia Issa, Chairman and General Director of IPT Group Holding, signed on behalf of IPT. Fayad stated: "The standard we follow in the ministry is the citizen's right to a decent living and the right to ask his ministry to contribute to strengthening the national economy. The citizen and the economy are our goals in our work during this difficult phase we are living through."
He added: "Total is a strategic partner for Lebanon and the Ministry of Energy in every sense of the word. It is among the few who have not left Lebanon and have committed to an economic presence with welcome political support, especially if it seeks the public interest away from political affiliations and in support of national dialogue, as we cannot build the nation without this dialogue."
Fayad discussed Total's role in "gas exploration to assist in reaching an important stage in this matter," expressing optimism about "finding a commercial reservoir in Block 9, and we await results in early November." He emphasized that "the relationship between the Ministry of Energy and Total is very good, and we are committed to transparency."
He further added, "The discussions being held by the company concerning the purchase of the licensed field in Triassic Wind Energy in Akkar are very advanced, and at the same time, they are committed to applying for a license for 15 megawatts of renewable solar energy by purchasing from one of those who obtained this license through previous cabinet decisions." He continued: "We rely on this strategic partner to increase its investments and maintain good relationships with the ministry and Lebanon."
Fayad touched on the "progress made by IPT since 1987 in the gasoline and diesel sector and the number of stations it provides reliable services at competitive prices," noting the "future projects of this company and its adaptation to technological advancements," and highlighting "the ministry's welcome to such companies that enhance the quality and service for the citizen while also increasing competitiveness that leads to price reduction for the benefit of the citizens."
Bishouné explained that "the renewal of the partnership with IPT falls within a global strategy to develop the Elf brand, which has grown significantly in the Middle East." He said: "Shared history, trust, passion, and a drive for growth are words that summarize the Elf brand, emphasizing the importance of our long-term partnership with IPT alongside Total Energies' firm commitment in Lebanon."
Issa pointed out that "this agreement is part of a broader partnership between Total Energies and IPT that culminated in the announcement of a strategic partnership between the two companies in 2019, resulting in the establishment of Fuel Logistics SAL, which handles the supply of oil derivatives and various logistical activities in Lebanon." He noted that "Total Energies had previously appointed IPT as the official agent for Elf oils in Lebanon since 2011."
He explained that "the renewal of this agreement comes within the framework of a new partnership for the first time with Total Energies in the UAE, which is considered the regional center for Total Energies and Elf oils in the area, as it owns and operates the fourth-largest oil plant for Total Energies in the world in Dubai." He mentioned that "this partnership under the slogan of 'Renewing the Partnership of Excellence' serves as an occasion to once again emphasize the shared values between the two companies and the common belief in the private sector's capabilities to boost the economy and contribute to overcoming the crises the country is facing."
