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REPORT: Reasons behind delay in forming oil sector management committee

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08-11-2012 | 15:15

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REPORT: Reasons behind delay in forming oil sector management committee

The oil sector management committee was formed during the cabinet session after a ten-month struggle.

The reasons behind the delay concern essentially the quotas, as Amal movement and Hezbollah spent several months discussing before finally agreeing on M. Naser Hatit as the Shiite member of the committee.

In this context, Energy Minister Gebran Bassil stressed that the committee is very important during this stage, noting that the next steps lie in the official launch for global bids, which must be finalized before the end of 2012.

Accordingly, the oil sector management committee is formed by 6 experts; three of them participated in preparing the oil file and closely followed up on its developments, while the other three experts joined the committee coming from abroad after years of working in oil companies.

For full LBCI report, please click on the video above

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