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For some months, Israel has been buying the majority of its oil from northern Iraqi Kurds. It's a good thing.
Iran is already banking on the lifting of sanctions; vow to raise oil production to 1 million bpd.
Israel has never invoked the agreement, but Israel sources say that its importance lies in its very existence.
The gas will fuel a $300 million electric power plant PPGC says it is developing in Jenin, which will be the first PA power plant in the West Bank.
King Salman continues a tradition of new kings taking small change out of the kingdom's treasure chest for the plain folks.
Two US defense contract workers were targeted with gunfire in Saudi Arabia - again - last week.
The 50 percent drop in the price of oil also could make it harder for Iran to find money for its nuclear program.
Tons of oil were left in an Israeli pipeline built by the two countries before 1979.
Afek Oil and Gas has been blocked from drilling for oil on the Golan Heights, at least for now.
Israel is still debating whether to dip into its Middle Eastern treasure chest for the oil shale that lies beneath the holy land.
Egypt is to receive 4.5 BCM (billion cubic meters) each year for 15 years, valued at 1.1 to 1.3 billion dollars a year.
Noble told analysts that drilling will not begin before the end of next year.
Moses made the right turn after all. In his song at the end of the Torah he spoke of ‘precious things of “Givat HaOlam.” The hidden meaning of “precious things” seems to be oil. Not olive oil, but black gold.
Israel may have struck it rich twice – once with indications of oil off the southern coast and twice with the prospect of Hamas and Abbas fighting it out over probable claims to the Israeli discovery.
Egypt foiled a terrorist attack on a ship in the Suez Canal on Saturday and has increased security to protect ships and oil tankers....