The Lebanese president said the government refuses to let southern Lebanon become a "forgotten region" or a bargaining chip, and that territory should be defended only by the state's legitimate weapons.

Interim president Delcy Rodriguez said a deal with U.S. oil firms would cover 17 prospective fields and grant a 25-year production concession targeting 1.5 mln barrels/day. The government proposes a $69/bbl sale price, implying $19 of government profit per barrel, plus a 16% field-use royalty and a 34% income tax on operating oil companies. Caracas expects proceeds to be added to the $209 billion in profits announced earlier this week.

US sources told EKHBARIYA the memorandum of understanding with Erbil will expire on Sept. 30 and will not be extended. Iranian Kurdish sources said the MoU's non-extension does not mean cooperation between Erbil and Washington has ended.