This article is part of Executive’s special report on the oil and gas sector. Read more stories as they’re published here, or pick up October’s issue at newsstands in Lebanon. In November 2013, then-Minister of Energy and Water Gebran Bassil was busily promoting optimism and working hard to launch the first offshore licensing round for oil and gas. And amid this feverish activity, fears of mismanagement, political and religious favoritism and theft of revenues from the resources were beginning to grow among the public. But then things stopped. The government was unable or unwilling to pass the two essential decrees related to the maritime blocks and the model exploration and production contract. Momentum evaporated, leaving the licensing round in limbo, open for an undetermined amount of time. It is speculated that the longer this period lasts, the more likely companies will lose interest or set their negotiations bar high, making the government
