oil and gas

Fayyad from Cairo says ensuring Arab wa...
December 1, 2022
Petromin’s National Motor Co. wins...
November 28, 2022
EU split on Russian oil price cap level,...
November 24, 2022

oil and gasNovember 24, 2022

Kanaan: Let's keep oil at sea if sovereign fund won't be sovereign


The head of the Finance Parliamentary Committee, MP Ibrahim Kanaan, announced Wednesday that “remarkable progress” has been made in the discussions related to the establishment of a sovereign fund to manage Lebanon’s offshore oil and gas resources.

“We are working on merging four draft laws… and we have reached Article 10 and all articles related to its establishment have been approved,” Kanaan said after a session.

“There won’t be a splitting of shares in the sovereign fund and if the fund won’t be sovereign, let’s keep the oil at sea,” the MP added.

naharnet