The Lebanese government has formally awarded the exploration rights for Block 8, located in the southern maritime zone of the country, to a consortium composed of TotalEnergies (operator, 35%), Eni (35%), and QatarEnergy (30%). This decision, ratified by the Council of Ministers on January 8, 2026, comes in the context of an acute economic crisis and political reconfiguration of the country. The Lebanese pound has lost more than 98% of its value since 2019, going from an official rate of 1,507 LBP per dollar to around 89,000 LBP/USD on the market. The nominal GDP, which exceeded 50 billion dollars before the crisis, is estimated to reach about 43 billion dollars by 2025 according to available estimates.
International
January 25, 2026
