52 Companies Apply To Explore For Oil In Lebanon

By: Associated Press Email
By: Associated Press Email

BEIRUT (AP) - Lebanon's Energy Ministry says 52 companies have participated in a pre-qualification process to win licenses for offshore oil and gas work.

The ministry says the companies include Chevron and Exxon Mobil Corp. from the United States and Royal Dutch Shell PLC.

Lebanon is a resource-poor nation and any finds could help it pay off one of the highest debt rates in the world.

The names of winning companies will be announced on April 18. The ministry initially told reporters 50 companies had participated but changed the number later in a statement.

Recent Israeli discoveries of oil and gas have raised tensions between Lebanon and neighboring Israel, which are in a state of war. Both countries claim a small maritime area of 850 square kilometers (328 square miles) in the Mediterranean.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 200487251 - kolotv.com/a?a=200487251
Gray Television, Inc.