The last six months have seen significant developments in the Energy sector for Lebanon and the greater MENA region.
Of particular relevance is the enactment by the Lebanese Parliament of the new Petroleum Tax Law which taxes revenues from oil operations. Since the passing of the new law, two bids have been submitted to the Ministry of Energy in Lebanon’s first offshore licensing round with the two bids being successful and the Council of Minister approving, on 14 December 2017, two Exploration and Production Agreements for blocks 4 and 9 for the awarded consortium.
*For background on this topic, please see our posts from 10 December 2017, 4 January 2017, 4 April 2014, 8 January 2014, 5 October 2013, 4 September 2013, and 2 May 2013.
** For further legal updates, please contact our Oil & Gas team at email@example.com