Roll out Israel's oil barrels
This is a fascinating article on the current state of Israel’s oil production. While we think it was a mistake not to mention the efforts and exploration of Zion Oil & Gas, we do believe it is helpful for our “Zion Family” to be aware of the oil industry in Israel.
Here are a few highlights worth noting:
– The country, known for its academic prowess, technological expertise and entrepreneurs, is now making headlines with rumours of vast oil reserves beneath its natural gas fields.
– If oil is extracted, companies and the Israeli government are likely to reap billion dollar rewards.
– “Companies are still very much exploring the fields.”
– “No one can say for sure if Israel has large reserves of oil. Anyway, if we had, we are probably not allowed to say it.”
– “At present, Israel uses 300,000 barrels of oil each year — and more than 70 per cent of our oil is imported from Azerbaijan and Russia.
– “Reserves would decrease our dependency on foreign oil.”