Lebanon: New Tax Helps Pave the Way for Oil Exploration

Sep 19, 2017 | 21:40 GMT

The Lebanese National Assembly has just passed the long-awaited oil and natural gas taxation law, the last of three crucial pieces of legislation needed to begin the exploration and development of offshore oil resources. The law enables international oil companies (IOCs) to apply for a license for exploration and development; final contract awards are likely to be given by the end of November. Though this marks significant progress in the development of Lebanese offshore oil fields, there is still much work to be done to address the administration of the sovereign wealth fund, as well as onshore exploration issues that will affect different political and religious groups that potentially have an interest in the developing industry....

Seek Intelligence Over News - 2021 Annual Forecast is Available!

Subscribe Today for $149!

12-Month Introductory Offer for eligible new & returning subscribers.

  • High quality, unbiased analysis of global events
  • Quarterly, annual, and decade geopolitical forecasts
  • Customized notifications, newsletters, and much more

Preview Some FREE Worldview Articles Below:

Free Coronavirus Articles

Free Geopolitical Articles

Connected Content

Regions & Countries

Article Search

Copyright © Stratfor, an operating unit of RANE Network Inc.

Stratfor Worldview


To empower members to confidently understand and navigate a continuously changing and complex global environment.