Oil and gas articles

The saga of Lebanon’s first licensing round

The saga of Lebanon’s first licensing round

Reading Time: 3 minutes At the end of 2017, politics once again threatened the completion of Lebanon’s first offshore oil and gas licensing round. More than four years ago, former Prime Minister Najib Miqati resigned the very day his cabinet was set to discuss two decrees needed to open the bid round. Those decrees finally passed in January 2017,

Lebanon’s oil & gas sector

Reading Time: 3 minutes   Lebanon is finally stepping into the exploration phase. The Council of Ministers approved the awarding of exploration and productions licenses mid-December to a consortium made of France’s Total, Italy’s Eni and Russia’s Novatek. Contracts are expected to be signed in January 2018. Given the context that surrounded the organization of Lebanon’s first offshore licensing

Strengthen our environmental protections

Reading Time: 3 minutes As Lebanon gears up to explore for offshore oil and gas resources, it is critical that environmental protection is a front and center priority. Oil and gas development activities have high environmental risks that could impact Lebanese communities living along the coast, as well as businesses working in the fishery, tourism, and shipping sectors. To

Inching closer to the edge of our seats

Reading Time: 3 minutes Regardless of what local banks keep proclaiming, Lebanon has no oil or gas. There’s reason to believe it does, but the process of finding out is only just beginning. On September 15, companies will bid for rights to explore for oil and/or gas offshore Lebanon. Executive takes a look at what that means, what to

The oil & gas waiting game

Reading Time: 4 minutes On June 22, Israel’s energy ministry announced that the deadline to place bids in the country’s first offshore licensing round would be pushed back until November 2017. This is the second time the bid round, which opened in November 2016, saw its end date postponed. With the second extension, it became harder to believe the

A roadmap for the first licensing round

Reading Time: 4 minutes On January 4 2017, the Lebanese government approved what many observers have been waiting for since March 2013: two oil and gas decrees, without which the country’s first licensing round could not proceed. One delineated offshore blocks, another detailed the model exploration and production agreement and set out the tender protocol. To signal its determination,

New strategy needed for Lebanon’s oil and gas

Reading Time: 4 minutes One of the key issues that Lebanon’s new government must address – and the list is long – is the two oil and gas-related decrees that have been collecting dust in the Council of Ministers (COM) for more than three years. Despite a relatively upbeat start, led by the Lebanese Petroleum Administration (LPA) in December

Selling a national oil company

Reading Time: 6 minutes The National Oil and Gas Company of Lebanon. Sounds official. It isn’t. But not for a lack of trying. Many countries with revenue from mining the “Devil’s excrement” (or Satan’s flatulence, to extend the metaphor and fully capture the industry) have a state-owned company participating in oil and gas operations (a working interest, as it’s

Anti-corruption law needed for oil and gas

Reading Time: 4 minutes Almost a year has passed since Executive first reported on a new draft law aiming to stamp out corruption at various points along the life cycle of an oil and gas project. It is an understandable delay given that parliament has only ratified emergency laws and, after an over three year wait, cabinet has yet

Legislation in progress

Reading Time: 4 minutes Recent news that rival political parties agreed on a vision for Lebanon’s oil and gas sector was met with worried optimism – an over three year wait for pending decrees to move the first offshore licensing round forward may be nearing an end. Until early July it seemed that oil and gas would continue to

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