The Lebanese Petroleum Administration has announced an extension for the third oil and gas exploration licensing round deadline to 17 March 2025. This extension aims to attract more companies and foster economic stability in the region. In December 2023, Lebanon's energy ministry launched the third oil and gas exploration licensing round, with the original deadline for bids set for 2 July 2024. 

Lebanon and Israel concluded negotiations facilitated by the United States to establish their maritime border in October 2022, marking the end of lengthy deliberations. This agreement paves the way for both nations to pursue oil and gas exploration in their respective waters.

Lebanon relies almost totally on imported energy products. Any hydrocarbon discoveries in Lebanon, in particular Natural Gas, shall contribute to the reduction of energy dependency on external markets. 

KeyFacts Energy Industry Directory: Lebanese Petroleum Administration