Le­banon de­lays oil li­cens­ing round

Executive Magazine - - Last Month -

Le­banon’s en­ergy min­istry is­sued an­other ex­ten­sion on Septem­ber 8 to the dead­line for bids in the first li­cens­ing round of off­shore oil and gas ex­plo­ration, mov­ing the dead­line from Septem­ber 15 to Oc­to­ber 12. The ex­ten­sion is the lat­est in a four-year de­lay in li­cens­ing prompted by po­lit­i­cal dead­lock. On Septem­ber 19, how­ever, the Le­banese Par­lia­ment passed a petroleum tax law ahead of the new bid­ding dead­line next month. Le­banon has pre-qual­i­fied more than 50 com­pa­nies to bid for the li­cences.

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