Obeid & Partners

Obeid & Partners

Lebanon Oil & Gas: Latest Developments

01-05-2018

The last six months have seen significant developments in the Energy sector for Lebanon and the greater MENA region.

Of particular relevance is the enactment by the Lebanese Parliament of the new Petroleum Tax Law which taxes revenues from oil operations. Since the passing of the new law, two bids have been submitted to the Ministry of Energy in Lebanon’s first offshore licensing round with the two bids being successful and the Council of Minister approving, on 14 December 2017, two Exploration and Production Agreements for blocks 4 and 9 for the awarded consortium.

*For background on this topic, please see our posts from 10 December 2017, 4 January 2017, 4 April 2014, 8 January 2014, 5 October 2013, 4 September 2013, and 2 May 2013.

** For further legal updates, please contact our Oil & Gas team at [email protected]

Recent Work Highlights

Our lawyers at Obeid & Partners have extensive experience in complex cross-border matters. Since the establishment of the firm in 1987, we have represented various clients ranging from government and government entities to nationally and internationally renowned investors, corporations and individuals. Our clients are distinguished in their respective fields of expertise.

Our team holds a track record in handling complex local and international cases, of which relevant work highlights include:

Hospitality

Successfully representing multiple owners of shares in an unprecedented class action before the Lebanese courts, involving a landmark resort in Beirut. The matter involved complex proceedings in addition to requiring significant logistical and coordination skills for the various plaintiffs in the context of the class action. This prompted the firm to develop an in-house protocol […]

Educational Services

Successfully representing a dually licensed private university in relation to a criminal lawsuit as well as an administrative claim.

Aviation

Successfully representing a world leading provider of solutions for the travel industry, in relation to a series of complex disputes pending before the Lebanese courts, involving seizure matters, URL geo-blocking, payment claims, action on the merits, and other proceedings. 

States

Successfully representing foreign states before the Lebanese courts in a series of complex court actions involving both private and public international law issues, relating to advance payment claims, real estate and lease agreements. 

Banking and Finance

Successfully representing a major oil trader, in what is still known as the largest litigation in Lebanon involving a claim in excess of one billion dollars against one of the largest local banks.  This was a first-of-kind matter in the banking sector which challenged the amnesty in the current financial crisis in Lebanon and the […]

Oil and Gas

Successfully representing  a group in relation to a complex cross-border action involving worldwide freezing injunctions and document preservation orders with claim amounts exceeding USD 300 million. Our firm secured a first-of-a-kind decision from the Lebanese courts and advised on complex cross-border matters involving mareva injunctions.