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52 companies apply to explore for oil in Lebanon

Posted By -NO AUTHOR- On 03/29/2013 @ 11:05 pm In Money,World | No Comments

(Associated Press) Lebanon’s Energy Ministry says 52 companies have participated in a pre-qualification process to win licenses for offshore oil and gas work.

The ministry says the companies include Chevron and Exxon Mobil Corp. from the United States and Royal Dutch Shell PLC.

Lebanon is a resource-poor nation and any finds could help it pay off one of the highest debt rates in the world.

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