It is true that the launching whistle of the Lebanese Oil & Gas industry has not been released yet. It is also true that the month of January of the New Year 2015 will soon end without any major update other than the continuous discussions concerning the adoption of the decrees in the last two Governmental meetings.
Samer Abbas Khalaf wrote last week in Daily Star about some external reasons that keep Oil and Gas exploration in the funnel: “Over the past year, crude oil prices have dropped by 55 percent while natural gas prices dropped approximately 30 percent. Analysts expect the slide to continue and the downturn to remain for several years to allow for the re-adjustment of supply and demand. This leaves margins squeezed for offshore production projects.