Oil & gas 2015 articles

Forbidden no more

Forbidden no more

Lebanon was most likely a marginal topic on the sideline of nuclear discussions in Vienna, but the nuclear agreement between Iran and the P5+1 group is expected to have direct implications on local Lebanese politics. Since the deadlock in Lebanon is largely a reflection of regional deadlock, it would be reasonable to expect a possible

A matter of clarification

While Lebanon opened its first offshore oil and gas licensing round in May 2013, international companies have not yet been able to submit bids because cabinet has not approved two necessary decrees (one outlining the tender protocol and model exploration and production sharing agreement, and another delineating offshore blocks up for bid). In April 2014,

A wealth of data

The third time proved the charm for Italian oil and gas company ENI in the past 12 months. In late 2014 and early 2015, ENI and South Korean partner KOGAS found nothing when drilling offshore for hydrocarbons in Cyprus’ exclusive economic zone (EEZ). On August 30, 2015, however, the company announced the discovery of a

Greasy politics in oil and gas

A picture of Fouad Makhzoumi meeting Pope Francis sits on a mantel next to photos of other global figures in the salon of his multi-story mansion in Lebanon’s posh Ramlet el Baida district. Executive had asked for a meeting with the businessman, philanthropist, and politician to discuss Lebanon’s potential petroleum resources. Makhzoumi has thus far

Show us the money

Though Lebanon’s oil and gas sector is effectively on hold, it doesn’t mean policymakers have stopped showing up to work. Lawmaking is not a high-speed process, even with a functional parliament and cabinet, and when it comes to building the legal framework governing the nascent sector, more time to draft bills and build consensus could

Transparency legislated

Starting next year, major players in the oil and gas industry will have some extra financial reporting to do. Any company listed on a European Union member state stock exchange (whether or not it is registered in the EU) or domiciled there will have to publish payments to foreign governments on a project-by-project basis beginning