Fees and royalties to the state from natural gas, oil, and minerals totaled NIS 561 million in the first half of 2021, the Ministry of Energy reports.
Fees and royalties to the state from Israel’s natural gas, oil, and minerals totaled NIS 561 million in the first half of 2021, up 17% from the corresponding period of 2020, the Ministry of Energy reports.
Most of the revenues came from royalties on natural gas, which totaled 554 million in the first half of 2021, when 8.9 billion cubic meters (BCM) was produced, compared with 6.5 BCM in the first six months of 2020. 5.5 BCM was sold to the domestic market and 4.4 BCM was exported.
RELATED ARTICLES
Delek swings to profit as Leviathan production grows
5.5 BCM was produced from the Leviathan field in the first half of 2021, up 59.5% from the first half of 2020 and 3.4 BCM was produced from the Tamar field in the first half of 2021, down 20.5% from the first half of 2020. The average price of gas in the first half of 2021 was 11% lower in dollar terms and 17% lower in shekel terms than in the first half of 2020.
The Ministry of Energy expects fees and royalties to the state from Israel’s natural gas, oil, and minerals to rise to NIS 590 million in the second half of 2021.
Published by Globes, Israel business news – en.globes.co.il – on August 29, 2021
Copyright of Globes Publisher Itonut (1983) Ltd. 2021
Leviathan rig Photo: Albatross
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Education News Click Here
For the latest news and updates, follow us on Google News.
