Finance parliamentary committee approves oil sovereign fund
The Finance and Budget Parliamentary Committee on Monday approved a law for establishing a Lebanese oil and gas sovereign fund.
Committee head MP Ibrahim Kanaan will hold a press conference Wednesday at 11am to discuss the law’s details.
Kanaan had on July 17 announced that the fund would be independent and transparent.
The law still has to be approved by parliament.
Gas exploration in Lebanon’s waters is scheduled to kick off in mid-August.
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