Israel drills disputed West Bank oilfield with 3.5B barrels

7 Nov 2013   Gaza, Israel, Oil Supply

RAMALLAH, West Bank, Nov. 6 (UPI) — Israel’s Givot Olam oil company says it’s exploring an oil field that could contain 3.53 billion barrels of crude, which along with the rich natural gas fields the Jewish state’s found under the Mediterranean Sea seems set to make it a regional energy power. There’s only one problem: Most of the Meged field, where Givot Olam started drilling in 2011, appears to lie in Palestinian West Bank, which Israel has occupied since June1967. On Tuesday, just hours before U.S. Secretary of state John Kerry arrived to press Israel on Washington’s latest peace initiative, Israeli negotiators told the Palestinians that the Separation Wall the Jewish state’s building across the West Bank will mark the border with a future Palestinian state. That would mean almost the entire Meged, which starts just inside Israel near the pre-1967 Green Line that separates the Jewish state from […]

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