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Lebanon passes oil tax law

This article by Reuters Staff was originally published on "Reuters" website.

BEIRUT, Sept 19 (Reuters) - Lebanon made progress in its efforts to develop a hydrocarbons industry on Tuesday when lawmakers passed a petroleum tax law, as companies prepare to bid on a first round of offshore exploration licences next month.

Earlier this month, Energy Minister Cesar Abi Khalil extended by four weeks the deadline for companies to submit bids for exploration and production. Bidding will be held for offshore blocks 1, 4, 8, 9 and 10.

The government has pre-qualified more than 50 companies... Continue reading

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