THE ECONOMIC IMPACTS OF THE OIL AND GAS RESOURCES
exploration and extraction of oil and gas. Lebanon on the other hand, is still waiting to reach an agreement with a number of companies that are working in this field. The maritime borders with
true economic benefits will depend on a larger array of factors i.e. the t rue amount of gas and oil extracted, the future market price, and the q uality of the gas and oil resources compared to
Lebanon begins 'historic' offshore oil drilling amid
Beirut -- Lebanon's president Thursday inaugurated the Mediterranean country's first offshore exploratory drilling for oil and gas, calling it a “historic day” for the cash-strapped country.
Oil discovery raises stakes between Israel and Lebanon. Prospect of conflict between Israel and Hezbollah heightens after the discovery of oil
Lebanon enters the Eastern Mediterranean oil and gas fray
In February 2024, the Tungsten Explorer drilling ship launched operations to explore potential gas and oil deposits in part of the Lebanese seabed. In theory, during the first year of production, these hydrocarbons could generate US$8 billion some €7.25 billion according to a study by Lebanese bank Credit Libanais. Lebanon, caught in the throes of a banking, monetary and financial
The main CSR obligations which oil companies should comply with while operating in Lebanon are: 1-Environmental requirements: Oil companies operating in Lebanon shall ensure that a high level of health, safety and protection of the environment is established, continuously developed and maintained. As one of the key signs of environmental
Extraordinary Hydrocarbon Potential Offshore Lebanon
Offshore Lebanon: Solving the Eastern Mediterranean’s Oil Mystery Lebanon’s imminent second offshore licence round will offer blocks with extraordinary potential. Blocks in the west display large, simple 3-way dip and 1-way fault closed structures on modern 3D seismic, where blind planar east–west faults cut long north–south folds.
This is a scenario hardly any oil producer ever envisioned. Operators around the world have started to shut-in production—a trend that will only accelerate at current prices. Oil companies, including Total and Eni which along with Novatek jointly hold blocks 4 and 9 in Lebanon, announced spending cuts by at least 20% for this year. Spending Cuts
Lebanon Oil Reserves, Production and Consumption
Lebanon consumes 153,000 barrels per day (B/d) of oil as of the year 2016.; Lebanon ranks 64th in the world for oil consumption, accounting for about 0.2% of the world's total consumption of 97,103,871 barrels per day.; Lebanon consumes 0.96 gallons of oil per capita every day (based on the 2016 population of 6,714,281 people), or 349 gallons per capita per year (8 barrels).
IOSR Journal of Computer Engineering (IOSR-JCE) IOSR Journal of Electrical and Electronics Engineering (IOSR-JEEE) IOSR Journal of Mechanical and Civil Engineering (IOSR-JMCE)