What are the challenges and prospects for change concerning transparency and accountability in the emerging petroleum sector in Lebanon? Which institutions constitute effective drivers of change?
Support planning for a development cooperation programme.
1.The petroleum sector in Lebanon: Current status and challenges regarding transparency and accountability
2.The way forward: Guaranteeing transparency and accountability throughout the petroleum value chain in Lebanon
3.Overview of potential drivers of change
Following the discovery of petroleum and gas in Lebanon, the country has taken several steps to establish an adequate institutional and legal framework that would allow effective exploration and management of resources. Fighting corruption and ensuring the emerging petroleum sector is governed in a transparent and accountable manner remain major challenges.
Important decisions regarding petroleum exploration and the management of funds are expected to be made in the coming years, including the licensing of oil blocs and the establishment of a sovereign fund. It is essential that adequate mechanisms are in place to enhance transparency, accountability and prevent corruption. In particular, increased participation in making policies and regulations regarding petroleum exploration, the enactment of clear rules governing the negotiations between the government and oil companies during the licensing process, and stronger oversight by the government and civil society are key.