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Israel Export First Crude to Europe

OIL

Israel has exported oil for the first time with Energean sending a cargo from the offshore Karish field to Europe. Energean started gas production at the Karish field offshore Israel last year.

  • “The first ever lifting of an Israeli crude oil cargo has taken place at the company’s Karish field,” Energean said in a statement. “The cargo has been sold as part of a multi-cargo marketing agreement with Vitol.”
  • The field is close to the maritime border between Israel and Lebanon. A deal reached in October between the two countries has made exports possible.
  • Energean said it remained focused on gas but “light sweet crude oil, responsibly produced,” is “very much in demand globally.”
  • Despite starting exports Israel will remain a net importer of crude.
Energy BulletsCommodities
Energy BulletsCommodities

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