Oil wealth: one last chance for Lebanon

The quest for oil exploration in Lebanon began in the early years of the French mandate when French High Commissioner Henry de Jouvenel issued a decree permitting exploration, extraction and investment in oil and mineral mines. The initial official Lebanese regulation for oil exploration and extraction, numbered 139 and dated June 23, 1936, marked a further pivotal step. But despite numerous pre-World War II attempts by successive governments to extract oil and gas, especially from the Lebanese onshore, they faced various challenges, leading to unsuccessful outcomes. Amidst the turbulent years of superpower confrontation in the second half of the past century, the Lebanese Civil War, spanning from 1975 to 1990, further impeded exploration endeavors. Despite post-conflict efforts by subsequent governments in Beirut, progress remained limited into the first decade of the 21st century when Israel announced the discovery of the Leviathan field. The massive find, rumored to contain at least