July 3, 2012

ISRAEL AND ENERGY: “Israel is set to shake up the energy landscape in the Middle East like no one has ever seen before. Last week, Israel Opportunity Energy Resources LP discovered an offshore oil and gas field with an estimated 1.4 billion barrels of oil and 6.7 trillion cubic feet of natural gas. According to the company’s Chairman, Ronny Halman, “The quantity of gas discovered… makes it the third-largest offshore discovery to date.” It follows last June’s announcement of uncovering 16 trillion cubic feet of natural gas and 800 million barrels of oil in Israel’s Tamar and Leviathan offshore fields. Yet, for Israel, these discoveries are only the beginning.”

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