Lebanon's muted celebrations
IOCs' wariness takes the shine off Lebanon's first licensing round
This should be the year when Lebanon celebrates the coming of age of its long-nascent energy sector, with an eye on the estimated 95 trillion cubic feet of natural gas and 0.75bn barrels of oil in its offshore. At the start of 2017 the political blocks were mostly in place and signs looked promising. After 30 months without a president, Michel Aoun had been elected head of state and Saad al-Hariri had formed a government. The new administration then passed laws governing bidding and contracts, allowing the country's energy minister Cesar Abi Khalil on 26 January to announce a timetable for the first offshore licensing round. On offer are blocks 1, 4, 8, 9 and 10. The minister said that the 4
Also in this section
5 December 2025
Mistaken assumptions around an oil bull run that never happened are a warning over the talk of a supply glut
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
