Thursday, August 18th | 22 Av 5782

March 14, 2012 10:19 am

Oil Found Off Tel Aviv Coast, Owners Say $10 Billion Worth

avatar by News Editor

Haifa oil refinery. Photo: wiki commons.

Arutz Sheva – Israel has struck oil again, this time off the Tel Aviv coast. Developers maintain the find includes 100 million barrels of oil, worth $10 billion.

Modiin Energy and Adira Energy discovered an estimated 128 million barrels of oil and 1.8 trillion cubic feet of gas in their Gabriella and Yitzhak licenses, in shallow water less than 15 miles northwest of Tel Aviv.

Read full story.

Share this Story: Share On Facebook Share On Twitter

Let your voice be heard!

Join the Algemeiner

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.