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Israel announces first crude oil export to Europe
Greek-owned energy company, Energean, announced on Tuesday that it will export crude oil to Europe via Israel's Karish gas field. This is the first time Israel will export crude oil.
While the Israel is not expected to become a major oil exporter, the announcement was still historic for the small Jewish nation.
Prof. Elai Rettig Bar-Ilan University in Tel Aviv said that gas fields often contain smaller amounts of crude oil.
“There is oil in every gas field. This is not a significant amount or an economy-changing event,” Rettig said. “It’s a nice profit.”
Israel is already a major natural gas exporter to Egypt and Jordan, and plans to increase exports to Europe.
The All Israel News Staff is a team of journalists in Israel.
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