Bassil – ‘Minor’ delay to oil and gas bids possible

Lebanon’s energy minister has provided the clearest hint yet that he expects a delay to the bidding process for the country’s offshore oil and gas, ahead of a Monday deadline. In an interview with Executive, Minister of Energy and Water Gebran Bassil said that a “minor” delay was possible as the country’s political situation was preventing the signing of key decrees. In order to continue with the process, Lebanon’s caretaker cabinet must meet before Monday to sign two laws regarding the oil and gas sector. One of these confirms the terms of agreement between the government and international oil companies, while the other formally demarcates the offshore blocks that companies can bid on. Related articles: Oil and gas should fuel negotiations The beginner's guide to Lebanon's oil and gas These decrees were supposed to be agreed in July, but the fall of the government in March has led to a