BEIRUT: Progressive Socialist Party leader Walid Jumblatt has questioned the management of Lebanon’s potential gas and oil reserves, warning against subjecting Lebanon’s national resources to political dueling.

“I questioned the withdrawal of some of the major oil companies from bidding in the Lebanese oil market,” he said in his weekly column in the PSP’s newspaper, warning that “local mismanagement of the oil industry treated Lebanese oil not as a national treasure but as a competition between the heads.”

Jumblatt also called for heading off any corruption in the sector.

Political hurdles have slowed progress on the exploration for potential oil and gas off Lebanon’s coast, where seismic surveys have suggested that the country could have sizeable reserves.

The Cabinet has failed to pass two decrees needed to proceed with a licensing round for offshore drilling.

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(The Daily Star :: Lebanon News ::