Lebanon could become reliant on a complex arrangement to import Iraqi fuel for its electricity needs, despite the lack of an agreed repayment plan.
The scheme, which experts say is fraught with problems, could lock the country into an unstable arrangement while delaying its transition to renewable or affordable energy sources, new documents and interviews reveal.
Lebanon, a country which has few natural resources and is suffering from an economic crisis, imports heavy fuel oil from Iraq under a swap deal signed in 2021.
Because the heavy fuel supplied by Iraq does not meet Lebanon’s fuel specifications, the deal allows Beirut to swap it on the international market for other types of oil suitable for its power plants, through traders who make a profit.
But three years after the deal was signed, Lebanon has yet to pay Iraq for the oil received. This is partly due to the unclear terms of the agreement.
The contract, seen by The National under a freedom of information request, states that Lebanon will deposit funds in a dollar account that Iraq can withdraw in Lebanese pounds to spend on “goods and services” for its ministries, such as medical services.
But the exchange rates at which Iraq will access the funds as well as the exact nature of services are unclear.
As a result, Iraq has yet to access the $550 million worth of goods or services, the value of the first year’s imports, deposited in Lebanon's central bank.
The deal also leaves Lebanon reliant on fossil fuels as it swaps the Iraqi heavy oil for gas oil and low-sulphur fuel oil, rather than cheaper alternatives such as natural gas, or cleaner renewables.
Despite these issues, new documents suggest that Lebanon plans to rely on the Iraqi fuel deal being renewed for its energy supply until at least 2028.
Stalled reforms
The National has seen Lebanon's National Emergency Plan for the Electricity Sector, written by the Ministry of Energy and Lebanon’s state electricity company, Electricite du Liban.
It was put together as an alternative to the country's 2022 energy plan, which has not yet been implemented amid delays in the wider package of reforms to Lebanon's governance and economy demanded by international lenders in return for vital funding.
The plan reveals that EDL intends to increase the volumes involved in the deal with Iraq to $772 million per year. This is part of its plan to boost capacity production from four hours to eight hours per day by 2028.
According to calculations, this will increase the total bill owed to Iraq to $5.45 billion by 2028, and leave Lebanon mainly reliant on fossil fuels, without guaranteeing 24-hour electricity for residents.
This comes despite the Iraqi government not having committed to extending the contract.
“The Iraqi fuel deal is a ticking time bomb with no alternative fuel source. The contract is due to end in October and the Iraqis will want to know why they haven’t received anything in return,” said a Lebanese energy professional and former ministerial candidate, who did not want to be identified.
Even if Lebanon were able to pay and secure an extension of the deal, experts have expressed concern over the lack of planning to secure alternative, cheaper and greener sources of fuel.
Lebanese households, despite being promised reliable electricity for more than a decade, continue to face daily blackouts and are forced to pay for expensive and polluting diesel generator subscriptions.
'Temporary fix'
The Beirut-Baghdad deal signed in 2021 was initially portrayed by Lebanese authorities as a gift from Iraq – a sign of solidarity towards a fellow Arab country grappling with an unprecedented economic crisis.
At the end of 2020, a tainted fuel scandal over another fuel import agreement shook the country. What Lebanese authorities had presented as a state-to-state fuel import contract with Algeria was shown instead to involve secretive offshore companies charging exorbitant prices for low-quality fuel.
The revelations further exposed a network of corruption involving contaminated fuel shipments, falsified laboratory tests and endemic bribery of state officials. Following the scandal, this fuel supply contract was not renewed and Lebanon was left without a fuel supply contract for the first time since 2005.
Struggling to find a replacement willing to engage with its cash-strapped economy, Lebanon signed the Iraqi deal in July 2021 for one million tonnes of fuel oil, or about seven million barrels.
It was extended in 2023 for one more year for two million tonnes, this time with a small volume of crude to be swapped alongside the heavy fuel oil. Overall, Lebanon receives around half of the original fuel oil exported by the Iraqis, according to official documents from the Ministry of Energy and Water.
“It did help Lebanon at the time as a temporary fix when the government defaulted on its debt and couldn't access international markets,” said Marc Ayoub, associate fellow at the American University of Beirut’s Issam Fares Institute.
However, experts have since expressed concern over a range of issues linked to the deal, especially regarding the absence of an alternative and clear financial arrangements in a country known for its corruption-riddled electricity sector.
Payment issues
Under the terms of the contract, Lebanon has one year to pay for each fuel shipment, but three years since the deal was signed, Iraq has not received anything, and it remains to be seen how Beirut will pay.
Lebanon already owes Iraq about $1.59 billion for millions of tonnes of fuel already imported since 2021, according to figures from the Ministry of Energy and Water.
The bank account assigned to the Iraqis at the BDL contains $550 million, the value of the first year’s imports. The Iraqi government has not yet accessed the funds, which are denominated in dollars but supposed to be withdrawn in Lebanese pounds.
The exchange rate for this withdrawal is unclear under the terms of the contract.
According to the contract, Lebanon would pay Iraq using the market rate at a 15 per cent discount or the Sayrafa platform rate, the exchange rate platform set up by the BDL between 2021 and 2023 to stabilise the Lebanese currency as it depreciated on the black market.
Criticised for its lack of transparency, the platform was phased out with the arrival of the new central bank governor in 2023.
Moreover, the “goods and services” that the Iraqis are supposed to access in Lebanon with these funds have yet to be determined, and Iraq has yet to receive any, despite media reports of medical services being provided.
An Iraqi Health Ministry official told The National that the medical services “are only on paper and nothing has happened in this regard”.
The responsibility for determining payment mechanisms and services provided lies with the Investment Development Authority of Lebanon, the Lebanese investment promotion agency charged with acting as the organisation for working with Iraq.
IDAL did not respond to interview requests from The National.
Energy security
Experts have also expressed concern about the deal’s implications for Lebanon’s energy security.
Mr Ayoub warned against a “fuel dependency” on Iraqi gas oil and fuel oil, currently the only energy source available to Lebanese power plants.
“Maybe the Iraqi government will decide one day to stop the contract, what alternative do we have?” he said.
But the government appears to think that its diplomatic relations with Iraq will outweigh any potential financial disagreements, as the emergency plan relies largely on the assumption that the contract will be renewed.
Asked about a contingency plan should the deal not be renewed, EDL appeared to have few plans beyond repairing its damaged power stations to boost their efficiency.
“[EDL] has put in place a scenario where it will attempt to extend generation as much as possible until the matter of supply is resolved," the company said. "This involves measures for the optimisation of generation efficiency to mitigate any potential disruptions in fuel supply.”
Long-term solutions?
Initially seen as a temporary fix, the Iraqi deal now appears to be emerging as a long-term solution.
Its extension, according to the emergency plan, would see EDL gradually assume responsibility for paying for fuel from Iraq rather than the Ministry of Energy, which has so far covered the cost.
EDL said that the dramatic tariff increases initiated in 2022 would enable it to cover the cost of Iraqi fuel.
Yet experts questioned the rationale behind EDL’s decision.
“Now that EDL has increased its tariff and can pay for its shipments, it could move away from the Iraqi deal and look at cheaper and alternative sources of energy and invest in renewables,” said Rony Karam, president and founding member of the Lebanese Foundation for Renewable Energy.
The emergency plan envisages renewable energy accounting for only 12 per cent of total production by 2028 in its best-case scenario, appearing to revise downwards the Ministry of Energy and Water’s earlier goal of 30 per cent by 2030.
Given current fuel costs, electricity must be produced at $0.20-0.25 per kilowatt hour. Yet Mr Karam highlighted the possibility of generating electricity using natural gas, which is much less polluting and could be produced for a third of the price at $0.07 to $0.08.
“This will make EDL more profitable and more bankable and instil confidence among international donors,” he added.
EDL's chronic losses, averaging $1.5 billion per year, have historically been the result of its expensive fuel supply.
A recent study by the World Bank, the Lebanon Country Climate and Development Report, estimated that replacing fuel with natural gas and large solar installations could reduce the cost of electricity by 66 per cent in Lebanon.
In 2022, Lebanon, Syria and Egypt signed a gas import agreement to import Egyptian gas through Syria in a bid to add four extra hours of power per day to the grid.
The project remains mired in geopolitical challenges, with the emergency plan revealing that Egyptian natural gas is not expected to come online until at least 2028.
Under the original reform plan, Lebanon was supposed to have already begun weaning itself off fossil fuels. In previous statements, caretaker Minister of Energy Walid Fayad blamed the delays on the lack of reform to the country’s financial system's and continuing lack of investment appetite, leaving the Iraqi deal as the only option.
Sinan Mahmoud contributed to this report
PAKISTAN SQUAD
Abid Ali, Fakhar Zaman, Imam-ul-Haq, Shan Masood, Azhar Ali (test captain), Babar Azam (T20 captain), Asad Shafiq, Fawad Alam, Haider Ali, Iftikhar Ahmad, Khushdil Shah, Mohammad Hafeez, Shoaib Malik, Mohammad Rizwan (wicketkeeper), Sarfaraz Ahmed (wicketkeeper), Faheem Ashraf, Haris Rauf, Imran Khan, Mohammad Abbas, Mohammad Hasnain, Naseem Shah, Shaheen Afridi, Sohail Khan, Usman Shinwari, Wahab Riaz, Imad Wasim, Kashif Bhatti, Shadab Khan and Yasir Shah.
SPECS
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Switching%20sides
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2018 ICC World Twenty20 Asian Western Regional Qualifier
Saturday results
Qatar beat Kuwait by 26 runs
Bahrain beat Maldives by six wickets
UAE beat Saudi Arabia by seven wickets
Monday fixtures
Maldives v Qatar
Saudi Arabia v Kuwait
Bahrain v UAE
* The top three teams progress to the Asia Qualifier
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
Essentials
The flights
Whether you trek after mountain gorillas in Rwanda, Uganda or the Congo, the most convenient international airport is in Rwanda’s capital city, Kigali. There are direct flights from Dubai a couple of days a week with RwandAir. Otherwise, an indirect route is available via Nairobi with Kenya Airways. Flydubai flies to Kinshasa in the Democratic Republic of Congo, via Entebbe in Uganda. Expect to pay from US$350 (Dh1,286) return, including taxes.
The tours
Superb ape-watching tours that take in all three gorilla countries mentioned above are run by Natural World Safaris. In September, the company will be operating a unique Ugandan ape safari guided by well-known primatologist Ben Garrod.
In the Democratic Republic of Congo, local operator Kivu Travel can organise pretty much any kind of safari throughout the Virunga National Park and elsewhere in eastern Congo.
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Vaccine Progress in the Middle East
Cricket World Cup League 2 Fixtures
Saturday March 5, UAE v Oman, ICC Academy (all matches start at 9.30am)
Sunday March 6, Oman v Namibia, ICC Academy
Tuesday March 8, UAE v Namibia, ICC Academy
Wednesday March 9, UAE v Oman, ICC Academy
Friday March 11, Oman v Namibia, Sharjah Cricket Stadium
Saturday March 12, UAE v Namibia, Sharjah Cricket Stadium
UAE squad
Ahmed Raza (captain), Chirag Suri, Muhammad Waseem, CP Rizwan, Vriitya Aravind, Asif Khan, Basil Hameed, Rohan Mustafa, Kashif Daud, Zahoor Khan, Junaid Siddique, Karthik Meiyappan, Akif Raja, Rahul Bhatia
UAE currency: the story behind the money in your pockets
Global state-owned investor ranking by size
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UAE
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Norway
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Canada
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Australia
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Saudi Arabia
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South Korea
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Read more about the coronavirus
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
History's medical milestones
1799 - First small pox vaccine administered
1846 - First public demonstration of anaesthesia in surgery
1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases
1895 - Discovery of x-rays
1923 - Heart valve surgery performed successfully for first time
1928 - Alexander Fleming discovers penicillin
1953 - Structure of DNA discovered
1952 - First organ transplant - a kidney - takes place
1954 - Clinical trials of birth control pill
1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.
1998 - The first adult live-donor liver transplant is carried out
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
MATCH INFO
What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany
Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)
Three ways to boost your credit score
Marwan Lutfi says the core fundamentals that drive better payment behaviour and can improve your credit score are:
1. Make sure you make your payments on time;
2. Limit the number of products you borrow on: the more loans and credit cards you have, the more it will affect your credit score;
3. Don't max out all your debts: how much you maximise those credit facilities will have an impact. If you have five credit cards and utilise 90 per cent of that credit, it will negatively affect your score.
TO%20CATCH%20A%20KILLER
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EDamian%20Szifron%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Shailene%20Woodley%2C%20Ben%20Mendelsohn%2C%20Ralph%20Ineson%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
more from Janine di Giovanni
More from Rashmee Roshan Lall
COMPANY%20PROFILE
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EMIRATES'S%20REVISED%20A350%20DEPLOYMENT%20SCHEDULE
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The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Dates for the diary
To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:
- September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
- October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
- October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
- November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
- December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
- February 2, 2018 Bodytree will host its 4th annual yoga market.
Recent winners
2002 Giselle Khoury (Colombia)
2004 Nathalie Nasralla (France)
2005 Catherine Abboud (Oceania)
2007 Grace Bijjani (Mexico)
2008 Carina El-Keddissi (Brazil)
2009 Sara Mansour (Brazil)
2010 Daniella Rahme (Australia)
2011 Maria Farah (Canada)
2012 Cynthia Moukarzel (Kuwait)
2013 Layla Yarak (Australia)
2014 Lia Saad (UAE)
2015 Cynthia Farah (Australia)
2016 Yosmely Massaad (Venezuela)
2017 Dima Safi (Ivory Coast)
2018 Rachel Younan (Australia)
Racecard
6.30pm: Mazrat Al Ruwayah Group Two (PA) US$55,000 (Dirt) 1,600m
7.05pm: Meydan Trophy (TB) $100,000 (Turf) 1,900m
7.40pm: Handicap (TB) $135,000 (D) 1,200m
8.15pm: Balanchine Group Two (TB) $250,000 (T) 1,800m
8.50pm: Handicap (TB) $135,000 (T) 1,000m
9.25pm: Firebreak Stakes Group Three (TB) $200,000 (D) 1,600m
10pm: Handicap (TB) $175,000 (T) 2,410m
The National selections: 6.30pm: RM Lam Tara, 7.05pm: Al Mukhtar Star, 7.40pm: Bochart, 8.15pm: Magic Lily, 8.50pm: Roulston Scar, 9.25pm: Quip, 10pm: Jalmoud
Fixtures (all in UAE time)
Friday
Everton v Burnley 11pm
Saturday
Bournemouth v Tottenham Hotspur 3.30pm
West Ham United v Southampton 6pm
Wolves v Fulham 6pm
Cardiff City v Crystal Palace 8.30pm
Newcastle United v Liverpool 10.45pm
Sunday
Chelsea v Watford 5pm
Huddersfield v Manchester United 5pm
Arsenal v Brighton 7.30pm
Monday
Manchester City v Leicester City 11pm
COMPANY%20PROFILE
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Results
5.30pm: Maiden (TB) Dh82,500 (Dirt) 1,600m, Winner: Panadol, Mickael Barzalona (jockey), Salem bin Ghadayer (trainer)
6.05pm: Maiden (TB) Dh82,500 (Turf) 1,400m, Winner: Mayehaab, Adrie de Vries, Fawzi Nass
6.40pm: Handicap (TB) Dh85,000 (D) 1,600m, Winner: Monoski, Mickael Barzalona, Salem bin Ghadayer
7.15pm: Handicap (TB) Dh102,500 (T) 1,800m, Winner: Eastern World, Royston Ffrench, Charlie Appleby
7.50pm: Handicap (TB) Dh92,500 (D) 1,200m, Winner: Madkal, Adrie de Vries, Fawzi Nass
8.25pm: Handicap (TB) Dh92,500 (T) 1,200m, Winner: Taneen, Dane O’Neill, Musabah Al Muhairi
Profile of Whizkey
Date founded: 04 November 2017
Founders: Abdulaziz AlBlooshi and Harsh Hirani
Based: Dubai, UAE
Number of employees: 10
Sector: AI, software
Cashflow: Dh2.5 Million
Funding stage: Series A
Results:
5pm: Maiden (PA) | Dh80,000 | 1,200 metres
Winner: Jabalini, Szczepan Mazur (jockey), Younis Kalbani (trainer)
5.30pm: UAE Arabian Derby (PA) | Prestige | Dh150,000 | 2,200m
Winner: Octave, Gerald Avranche, Abdallah Al Hammadi
6pm: Arabian Triple Crown Round 3 (PA) | Group 3 Dh300,000 | 2,200m
Winner: Harrab, Richard Mullen, Mohamed Ali
6.30pm: Emirates Championship (PA) | Group 1 | Dh1million | 2,200m
Winner: BF Mughader, Szczepan Mazur, Younis Al Kalbani
7pm: Abu Dhabi Championship (TB) | Group 3 | Dh380,000 | 2,200m
Winner: GM Hopkins, Patrick Cosgrave, Jaber Ramadhan
7.30pm: Wathba Stallions Cup (PA) | Conditions | Dh70,000 | 1,600m
Winner: AF La’Asae, Tadhg O’Shea, Ernst Oertel
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5
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COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
The specs
Engine: 3.8-litre twin-turbo flat-six
Power: 650hp at 6,750rpm
Torque: 800Nm from 2,500-4,000rpm
Transmission: 8-speed dual-clutch auto
Fuel consumption: 11.12L/100km
Price: From Dh796,600
On sale: now
