Don’t sweat the details

ENAR

After a rocky start that saw a several-year delay of the sector’s development as a result of political squabbling, in late April the Lebanese Ministry of Energy and Water (MoEW) announced the oil and gas companies that will be eligible to bid for offshore exploration licenses in late. Executive lauds this milestone and hopes the government adheres to the ministry’s step-by-step plan to get contracts signed in November. Parliament must immediately ratify a newly produced draft transparency law to oversee the country’s hoped-for oil and gas sector. The law codifies the publication of information, like payments from companies to the government, and criminalizes illicit behavior. Its ratification would send a positive signal to the companies and professionals looking to do business in the country on a level playing field. It would also show the public that the government’s management of the sector will be open. Lebanon needs this law because,