Lebanon joins hunt for energy riches in Levant Basin

Cesar Abi Khalil, Lebanon’s Minister for Energy and Water. (AP)
Updated 11 February 2018
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Lebanon joins hunt for energy riches in Levant Basin

LONDON: Lebanon has pledged to go ahead with oil and gas exploration near its disputed maritime border with Israel, despite Israel’s Defense Minister describing the move as “very provocative”.
Defense Minister Avigdor Lieberman was quoted by Reuters as saying: “When they issue a tender on a gas field, including Block 9, which by any standard is ours ... this is very, very challenging and provocative conduct here.”
Lebanon was quick to respond: “We consider this statement as an aggression on Lebanon’s sovereignty to practice its natural right to explore our oil resources,” said Cesar Abi Khalil, Minister for Energy and Water.”
The United States Geological Survey (USGS) published an explanation of the dispute in 2016. It said: “The 1949 Israel-Lebanon armistice line serves as the de facto land border between the two countries, and Lebanon claims roughly 330 square miles of waters that overlap with areas claimed by Israel based in part on differences in interpretation of relative points on the armistice line.”
Lebanon passed two oil and gas decrees in 2017 in a sign that Beirut intended to progress on major projects and restore confidence to the policymaking machinery.
The decrees defined the blocks and specified the conditions for production and exploration tenders.
The Lebanese energy ministry said in December that Lebanon’s council of ministers approved the awards of two exclusive petroleum licenses for exploration and production in blocks 4 and 9 for the consortium. Block 4 covers 1,911 sq km while Block 9 covers 1,742 sq km.
The consortium submitted uncontested bids for two of the five blocks on offer, and will have five years to conduct exploration activities.

Doubts were raised over the government’s ability to sign off on exploration licenses after Lebanon’s Prime Minister Saad Hariri resigned and then changed his mind in a series of dramatic political developments in November.

Lebanon has no oil or gas production but its waters are estimated to hold 15 trillion cubic feet of recoverable gas, according to the the US Geological Survey (USGS). The body estimates that the eastern Mediterranean Levant basin, which spans waters off Lebanon, Israel and Cyprus holds about 122 Tcf of recoverable gas and 1.7 billion barrels of oil.

There are over 800 square kilometers (300 square miles) of waters claimed by the two countries, which are technically in a state of conflict. Israel and Hezbollah fought a month-long war in 2006.

Arab News reported on Feb. 8 that Israel offered to accept US mediation in the latest spat with Lebanon. As tension rises over the issue, David Satterfield, principal deputy assistant secretary for the Bureau of Near Eastern Affairs at the US State Department, made a surprise visit to Lebanon last week for talks with senior government officials, and US Secretary of State Rex Tillerson is expected to visit on February 15.

Israeli Energy Minister Yuval Steinitz was quoted as saying: “We are willing to accept American mediation to resolve the issue diplomatically. There was international mediation on the matter in the past. We were close to reaching a compromise in 2013, but the whole thing collapsed at the 11th hour.”

There is also growing unease over Israeli plans to build a cement wall on its border with Lebanon. Construction work has already begun at the Ras Al-Naqoura border crossing.

Talks designed to resolve the issue took place at Ras Al-Naqoura on Wednesday between representatives of the Lebanese and Israeli armies, brokered by the UN Interim Force in Lebanon (UNIFIL).


Egypt-born Dina Powell McCormick appointed Meta president and vice chairman

Updated 13 January 2026
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Egypt-born Dina Powell McCormick appointed Meta president and vice chairman

  • The former Goldman Sachs partner and White House official previously served on Meta’s board of directors
  • Powell McCormick, who was born in Cairo and moved to the US as a child, joins the management team and will help guide overall strategy and execution

LONDON: Meta has appointed Egypt-born Dina Powell McCormick as its new president and vice chairman.

The company said on Monday that the former Goldman Sachs partner and White House official, who previously served on Meta’s board of directors, is stepping up into a senior leadership role as the company accelerates its push into artificial intelligence and global infrastructure.

Powell McCormick, who was born in Cairo and moved to the US as a young girl, will join the management team and help guide its overall strategy and execution. She will work closely with Meta’s Compute and infrastructure teams, the company said, overseeing multi-billion-dollar investments in data centers, energy systems and global connectivity, while building new strategic capital partnerships.

“Dina’s experience at the highest levels of global finance, combined with her deep relationships around the world, makes her uniquely suited to help Meta manage this next phase of growth as the company’s president and vice chairman,” Meta founder and CEO Mark Zuckerberg said.

Powell McCormick has more than 25 years of experience in finance, national security and economic development. She spent 16 years as a partner at Goldman Sachs in senior leadership roles, and served two US presidents, including stints as deputy national security adviser to Donald Trump, and a senior State Department official under George W. Bush.

Most recently, she was vice chair and president of global client services at merchant bank BDT & MSD Partners.