Subscribe to our free daily newsletters
  Oil and Gas News from OilGasDaily.Com  




Subscribe to our free daily newsletters



OIL AND GAS
Lebanon gets two bids for offshore gas exploration
by Daniel J. Graeber
Washington (UPI) Oct 13, 2017


Lebanese ambitions to draw investors to its offshore reserve potential, notably for natural gas, brought in only two bids, the government reported.

Lebanon in January filed a request to join the Extractive Industries Transparency Initiative, a body that aims to cast light on how countries manage their oil, gas and mineral resources. Energy Minister Cesar Abi Khalil said that, as the country opens itself up to foreign energy investors, accountability was essential.

Decrees put forward by the Lebanese government outline a model for revenue sharing, something that derailed previous efforts to court foreign investors. The Lebanese government estimates there are 95 trillion cubic feet of natural gas and 750 million barrels of oil in its territorial waters.

Khalil said Thursday the government received two bids for offshore gas operations, but offered few specifics on the details, the English-language Daily Star reported.

Lebanon has been at odds with Israel over maritime borders in the Mediterranean Sea. Parliament members from Shiite group Hezbollah have pushed for the development of offshore reserves. According to Israeli military leaders, Hezbollah's military arm could hit emerging energy infrastructure centered on the port of Haifa with its missile arsenal.

Israel is working to exploit the gas reserves in the Leviathan and Tamar natural gas fields in the Mediterranean Sea. Delek Drilling, an Israeli company, estimates Leviathan, the larger of the two, holds about 21.4 trillion cubic feet of natural gas, an estimate that's about 13 percent higher than when the field was discovered in 2010.

Beirut postponed offshore natural gas auctions several times after rancor erupted over the amount of revenue Beirut would get from energy companies.

OIL AND GAS
OPEC's oil price forecast near a make-or-break point for U.S. shale
Washington (UPI) Oct 11, 2017
The price for crude oil next year should be around the so-called Goldilocks number for shale oil drillers in the United States, OPEC economists said. The Goldilocks scenario refers to a price point that's not so high that it encourages a strong drive in crude oil exploration and production, but not low enough to curtail capital spending and operations. Economists with the Organiz ... read more

Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Converting carbon dioxide to carbon monoxide using water, electricity

Breaking down stubborn cellulose

Breakthrough in direct activation of CO2 and CH4 into liquid fuels and chemicals

NGOs slam UN aviation agency plan for biofuels

OIL AND GAS
Solar panels shine in darkest Amazon, the 'last frontier'

Sandia scientists find the optimal way to mop up surplus solar flux on CSP towers

Solar power a clear leader, IEA report finds

Futuristic solar-powered Dutch family car hailed 'the future'

OIL AND GAS
Huge energy potential in open ocean wind farms in the North Atlantic

OX2 hands over Ajos wind farm to IKEA Finland

Wind farms in Atlantic could power the world: study

Germany gets economic lift with wind energy

OIL AND GAS
Greenpeace fireworks shine light on French nuclear safety concerns

Japan government, TEPCO liable for Fukushima crisis: court

French, Belgian nuke plants vulnerable to attack: Greenpeace

New 'molecular trap' cleans more radioactive waste from nuclear fuel rods

OIL AND GAS
'Plan B': Seven ways to engineer the climate

British government unveils green spending plans

As Paris climate goals recede, geoengineering looms larger

Cheaper to invest in climate change fight than to rebuild; EPA chief rolls back US plans

OIL AND GAS
Norway seeks 'Tesla tax' on electric cars

Slovenia sets tough emissions limits for cars

Paris wants to phase out diesel cars by 2024

Tesla recalls Model X vehicles for seat fix

OIL AND GAS
Nearly 700,000 Iraqis from war-torn Mosul still displaced: NGO

Cinders and desolation in Iraq's Hawija after IS

Moscow says US 'pretending' to fight IS in Iraq

Shock Iraq torture photos raise ethical dilemmas

OIL AND GAS
Iranians mock 'ridiculous' Trump speech

NATO chief concerned about Iran missile programme

Trump breaks with allies as US goes it alone on Iran

Iran says US opposing 'whole world'; Europe scrambles to save deal




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement