Lebanon Businessnews News
 

Looking for Oil
Drilling works may start in the next three to five years
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Jebran Bassil, Minister of Energy and Water said the government will finalize legislations required for oil exploration works in 2011.

He said that real drilling works could start over the next three to five years.

Bassil said that oil prices in Lebanon should not be standardized by the government. “Demand and supply factors should play the role in determining prices.”

The minister was speaking at a conference on oil sector in Lebanon.

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Date Posted: Jan 29, 2010