Lebanon's Oil and Gas Update Is No Update
Lebanon’s oil and gas update is no update at all.

Lebanon is undergoing the worst security crisis since the start of the civil war three years ago in Syria. On August 2, militants of the self-proclaimed Islamic State attacked Arsal, a town in Northern Lebanon, which led to a confrontation with the Army. The political vacuum persists, with the failure of the Parliament to hold a session to elect the country’s new President.

Lebanon’s Minister of Energy and Water Arthur Nazarian announced that the launching of the first licensing round will be delayed once again until the government is able to meet and ratify two pending decrees setting the terms of exploration and production agreements and delimitating the blocks open for bidding. A debate around whether the 10 blocks should be offered at once or progressively had also divided the politicians.

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