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FINANCIAL NEWS
Urgent oil and gas decrees to be approved in Lebanon
09 Jul 2013
(MENAFN) President Michel Sleiman and Najib Mikati, Prime Minister, are assumed to approve two crucial decrees concerned with oil and gas exploration as they are supposed to call for urgent Cabinet session regarding the decrees, DailyStar News reported.
The decrees must define the 10 targeted spots for exploration, and set the revenue-sharing plans before any further procedures are taken,
Meanwhile, The Energy Minister, Gebran Bassil, expressed his concerns about Lebanese gas wealth from Israel, as the later recently detected a new gas field near the Lebanese coastal borders,
It’s worth mentioning that an approximate of 46 energy companies are nominated to bid for the exploration contracts.
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