Israeli Oil Supply – Where Does It Come From?

While we at Zion are exploring for oil and gas so that Israel will have a substantial domestic supply and obtain energy independence, we often get the question of where Israel currently gets her oil.

This article from The Times Of Israel answers where 3/4 of her current supply comes from.

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Israel has imported nearly 1 billion dollars’ worth of oil from Iraq’s semi-autonomous Kurdish region in the past few months, the Financial Times reported on Sunday.

According to the report, Israel purchased 19 million barrels of Kurdish oil, worth roughly $1 billion, between May and August of this year. The massive amount meets two-thirds of the Jewish state’s oil needs and may be a way for Jerusalem to covertly support the Kurds’ fight against the Islamic State, the report said.

“That is the equivalent of about 77 per cent of the average Israeli demand, which runs at roughly 240,000 barrels per day. More than a third of all of the northern Iraqi exports, which are shipped from Turkey’s Mediterranean port of Ceyhan, went to Israel over the period,” continued the report. Industry sources said Israel may have stored or exported some of the oil.

CLICK HERE to read the entire article on timesofisrael.com.