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KSA Participates in GCC-US Trade Cooperation, SelectUSA Investment Summit

KSA Participates in GCC-US Trade Cooperation and SelectUSA Investment Summit. (SPA)
KSA Participates in GCC-US Trade Cooperation and SelectUSA Investment Summit. (SPA)
TT
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KSA Participates in GCC-US Trade Cooperation, SelectUSA Investment Summit

KSA Participates in GCC-US Trade Cooperation and SelectUSA Investment Summit. (SPA)
KSA Participates in GCC-US Trade Cooperation and SelectUSA Investment Summit. (SPA)

A Saudi delegation led by General Authority of Foreign Trade (GAFT) Deputy Governor for International Relations Abdulaziz bin Omar Al-Sakran, participated on Wednesday in the fifth annual GCC-US Trade and Investment Dialogue in Washington, DC, as well as the US Investment Summit (SelectUSA), the Saudi Press agency said.
The Saudi delegation comprises 22 entities from the public and private sectors.
The GCC-US Trade and Investment Dialogue serves as a platform to exchange experiences and viewpoints between officials and experts, discuss trade and investment policies in the Gulf Cooperation Council (GCC) countries and the United States, address obstacles and challenges, and identify common goals that can enhance trade cooperation between both sides.
It mainly focuses on trade and investment flows of goods and services, digital trade, consumer protection, and combating commercial fraud.
The SelectUSA Investment Summit aims to boost economic growth by facilitating connections between foreign capital and US companies, strengthening the US investment landscape, highlighting industry trends and emerging opportunities across various sectors, and connecting investors with opportunities within US companies.

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Lebanon Extends Deadline for Licensing Round for Offshore Oil, Gas Fields

A motorbike drives past buildings destroyed during previous Israeli military fire on the southern Lebanese village of Aita al-Shaab, near the border with northern Israel on June 29, 2024, amid ongoing cross-border clashes between Israeli troops and Hezbollah fighters. (Photo by AFP)
A motorbike drives past buildings destroyed during previous Israeli military fire on the southern Lebanese village of Aita al-Shaab, near the border with northern Israel on June 29, 2024, amid ongoing cross-border clashes between Israeli troops and Hezbollah fighters. (Photo by AFP)
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Lebanon Extends Deadline for Licensing Round for Offshore Oil, Gas Fields

A motorbike drives past buildings destroyed during previous Israeli military fire on the southern Lebanese village of Aita al-Shaab, near the border with northern Israel on June 29, 2024, amid ongoing cross-border clashes between Israeli troops and Hezbollah fighters. (Photo by AFP)
A motorbike drives past buildings destroyed during previous Israeli military fire on the southern Lebanese village of Aita al-Shaab, near the border with northern Israel on June 29, 2024, amid ongoing cross-border clashes between Israeli troops and Hezbollah fighters. (Photo by AFP)

Lebanon's energy ministry has extended a deadline for companies to bid for exploration rights for offshore oil and gas fields in its third licensing round until March next year, the Lebanese Petroleum Administration said on Monday.

The government originally set a deadline of July 3, 2024 for bidding in the licensing round for nine maritime blocks, which was launched in January.

The Lebanese Petroleum Administration said the deadline had been extended to March 17, 2025 to provide enough time to monitor "accelerating regional and international developments," find ways of attracting more interest from companies and "work towards achieving economic stability."

The statement did not mention the ongoing hostilities between the Israeli military and Hezbollah, which have been trading fire for more than eight months in parallel with the Gaza war.

An industry source told Reuters that the exchanges of fire had been a major factor in the decision to extend the deadline.

Lebanon has extended previous licensing rounds repeatedly, in some cases because there had been no applications.

Lebanon formally delineated its maritime border with Israel in October 2022 after years of US-mediated talks. It had hoped this would pave the way for an influx of bids for oil and gas exploration in its waters.

But the recent border conflict has resurrected fears that a full-scale war could break out, and Hezbollah chief Hassan Nasrallah made threats about the Mediterranean in a recent speech.