Middle East / Africa

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Summary | Profile

Country profile: Israel

Location: Middle East, bordering the Mediterranean Sea, between Egypt and Lebanon
Climate: temperate; hot and dry in southern and eastern desert areas
Terrain: Negev desert in the south; low coastal plain; central mountains; Jordan Rift Valley
Size: 20770 sq. km total (Land area: 20330 sq. km  Water area: 440 sq.km)
Population: 7,112,359
Languages: Hebrew (official), Arabic used officially for Arab minority, English most commonly used foreign language
Government: parliamentary democracy
Capital city: Jerusalem
Legal system: mixture of English common law, British Mandate regulations, and, in personal matters, Jewish, Christian, and Muslim legal systems; in December 1985, Israel informed the UN Secretariat that it would no longer accept compulsory ICJ jurisdiction
Currency: new Israeli shekel (ILS); note - NIS is the curren
Licensing:

Country profile

Following World War II, the British withdrew from their mandate of Palestine, and the UN partitioned the area into Arab and Jewish states, an arrangement rejected by the Arabs. Subsequently, the Israelis defeated the Arabs in a series of wars without ending the deep tensions between the two sides. The territories Israel occupied since the 1967 war are not included in the Israel country profile, unless otherwise noted.

On 25 April 1982, Israel withdrew from the Sinai pursuant to the 1979 Israel-Egypt Peace Treaty. In keeping with the framework established at the Madrid Conference in October 1991, bilateral negotiations were conducted between Israel and Palestinian representatives and Syria to achieve a permanent settlement. Israel and Palestinian officials signed on 13 September 1993 a Declaration of Principles (also known as the "Oslo Accords") guiding an interim period of Palestinian self-rule. Outstanding territorial and other disputes with Jordan were resolved in the 26 October 1994 Israel-Jordan Treaty of Peace.

In addition, on 25 May 2000, Israel withdrew unilaterally from southern Lebanon, which it had occupied since 1982. In April 2003, US President BUSH, working in conjunction with the EU, UN, and Russia - the "Quartet" - took the lead in laying out a roadmap to a final settlement of the conflict by 2005, based on reciprocal steps by the two parties leading to two states, Israel and a democratic Palestine. However, progress toward a permanent status agreement was undermined by Israeli-Palestinian violence between September 2003 and February 2005. An Israeli-Palestinian agreement reached at Sharm al-Sheikh in February 2005, along with an internally-brokered Palestinian ceasefire, significantly reduced the violence. In the summer of 2005, Israel unilaterally disengaged from the Gaza Strip, evacuating settlers and its military while retaining control over most points of entry into the Gaza Strip.

The election of HAMAS in January 2006 to head the Palestinian Legislative Council froze relations between Israel and the Palestinian Authority (PA). Ehud OLMERT became prime minister in March 2006; following an Israeli military operation in Gaza in June-July 2006 and a 34-day conflict with Hizballah in Lebanon in June-August 2006, he shelved plans to unilaterally evacuate from most of the West Bank. OLMERT in June 2007 resumed talks with the PA after HAMAS seized control of the Gaza Strip and PA President Mahmoud ABBAS formed a new government without HAMAS.

Energy production and consumption


Oil Gas
Production: 100 bbl/day (2006 est.) 709 million cu m (2005 est.)
Consumption: 249,500 bbl/day (2006 est.) 709 million cu m (2005 est.)
Exports: 75,980 bbl/day (2004 est.)  
Imports: 315,200 bbl/day (2004 est.)  
Reserves: 2 million bbl (1 January 2006 est.) 37 billion cu m (2006 est.)
Major fields:



Israel - recent news

22 Sep 20
Israel: Zion Oil and Gas drilling rig set to depart for Israel
Zion Oil & Gas confirms transportation arrangements for its drilling rig from Romania to Israel, to drill the Megiddo-Jezreel-2 well.
16 Sep 20
Israel: Energean signs Karish gas sales agreements
Energean has signed two new Gas Sales and Purchase Agreements ('GSPAs'), which, combined, represent quantities of gas of up to 1.4 bcm/yr and increase total firm contracted gas sales from its flagship Karish project to approx. 7.0 bcm/yr on plateau.
05 Aug 20
Israel: Delek to issue USD 2.25 billion of bonds to finance Leviathan development
Delek Group has published an announcement from Delek Drilling regarding an update in respect of the issuance of $ 2.25 billion of Leviathan Bonds, which will be used to finance the Leviathan development, offshore Israel.
02 Aug 20
Israel: Zion Oil and Gas receives approval for next well in Israel
Zion Oil & Gas has announced formal approval from the Israel Ministry of Energy of its drilling plan for the Megiddo Jezreel-2 well on the 99,000-acre Megiddo-Jezreel license area, onshore Israel
25 Jun 20
Israel: Karish pipe laying and subsea systems installation completed
Energean has announced the completion of a key milestone in the Karish and Tanin Development project, offshore Israel. TechnipFMC, has successfully completed on time the laying of the Gas Sales Pipeline and the main deep water installations of the subsea production systems. The overall physical progress of the Karish Development project now stands at c. 80% complete.

Israel - more news

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