File - The crew on board the Polarcus Adira in the Mediterranean Sea, Thursday, May 30, 2013. (The Daily Star/Mohammad Azakir)
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Caretaker Energy and Water Minister Gebran Bassil is set to postpone an auction for the licensing of offshore gas exploration following a failure to pass two decrees on revenue sharing and the number of blocks to be auctionedoff, industry sources said Tuesday.On Dec. 4, 2013, Bassil told a conference on oil and gas that he was determined to hold the auction on Jan. 10 although he admitted some politicians in Lebanon were refusing to pass the two decrees.The Energy Ministry estimates that Lebanon has at least 95 trillion cubic feet of gas and 750 million barrels of oil in 45 percent of the country's surveyed territorial waters.
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