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Israel begins Karish oil export for first time in history

World

16-02-2023 | 06:38

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Israel begins Karish oil export for first time in history

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Israel officially kicked off its first export of domestic crude oil. According to Tanker Trackers, an independent online service that tracks the shipment of crude oil, "half a million barrels departed yesterday from the Karish offshore field."

Situated around 75 kilometers from the coast of Haifa, the Karish field contains around 61 million barrels of liquid.

Based on a statement published by Energean, a London-based E&P company focused on developing resources in the Mediterranean, it stated that Israel officially entered “the oil exporters club,” as the company exports hydrocarbon liquids from Karish to global markets.

Adding that” the cargo has been sold as part of a multi-cargo marketing agreement with Vitol; the first of a new source of East Med energy to reach Europe.”

In October, after years of negotiations, a US-brokered agreement was reached to demarcate the maritime border between the Karish field and the Qana field on Lebanon’s side.

We are currently tracking Israel's very first export of domestic crude oil. Half a million barrels departed yesterday from the Karish offshore field. #OOTT pic.twitter.com/NSnyQaVGhQ
— TankerTrackers.com, Inc. (@TankerTrackers) February 15, 2023

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