SUBSCRIBE
PROFILE

Israel makes its first crude oil exports

Israel is starting to export crude oil for the first time in its history, a further step towards energy independence thanks to its resources in the Mediterranean.

Share:

Subscribe for unlimited access to all energy sector news.

Over 150 multisector articles and analyses every week.

Your 1st year at 99 $*

then 199 $/year

SUBSCRIBE — 99 $ for the 1st year

Create a free account to read this article

*renews at 199$/year, cancel anytime before renewal.

On February 14 Energean announced the start of the first crude oil exports to Israel. The oil cargo from the mainly gas producing Karish field, has been loaded and is headed to a European destination, according to Energean. This is another important step for Israel in its quest for energy independence based on offshore resources in the Mediterranean.

 

Imports still needed

In recent years, Israel has consumed about 210,000 barrels of oil per day, according to BP data. Israel’s refineries rely on imports from Russia, Azerbaijan and Iraq, and it is likely that the country will continue to import crude oil from abroad to meet its heavier oil needs, while exporting some lighter liquids related to its gas production.

Turkey is the main supplier of crude oil to Israel, with Turkish shipments coming from pipelines in Azerbaijan and Iraq – the latter supposedly including a significant portion of the semi-autonomous Kurdistan region. Russia and Nigeria are also among the main suppliers

 

New source of revenue for Israel

Israel’s first crude oil export has been successfully completed, with the loading of a cargo mainly from the Karish gas field, according to the operator, Energean. The trading company Vitol is responsible for the offloading of the cargo, which will take the light and sweet crude oil to a European destination.

Gas production at Karish began in October 2022, and initial production capacity is expected to reach 6.5 billion cubic meters per year in 4-6 months. According to Energean, the field has recoverable reserves of 1.4 trillion cubic feet of gas and 61 million barrels of liquids.

In addition, the Energean Power floating generation and storage vessel has significant storage capacity for floating generation and storage. Indeed, it is capable of storing up to 800,000 barrels of oil.

 

Energean’s future plans for Karish

Energean has future plans for Karish, including the construction of a second gas export riser and a second oil train. In addition, the company’s second project, Karish North, is expected to include a significant proportion of liquids in the production stream. This first export of crude oil from Israel marks an important step in the country’s efforts to achieve greater energy independence through its offshore resources in the Mediterranean.

  • Popular on energynews.pro
The United States Sanctions Greek Shipper for Iranian Oil Trafficking
Metacon confirms partial delivery and receives EUR 14.9 million
Canadian Utilities secures AUC approval for Yellowhead gas pipeline project
China: 25 GW of coal approved in H1 2025, commissioning surges
AP1000 reactor certification extended in the US until 2046
Washington grants sixth sanctions extension to Serbian oil firm NIS
The United States extends a 30-day reprieve to NIS, controlled by Gazprom, as Serbia seeks to maintain energy security amid pressure on the Russian energy sector.
CNOOC Limited records 6.1% increase in production for H1 2025
With net output reaching 384.6 million barrels of oil equivalent, CNOOC Limited continues its expansion, strengthening both domestic and international capacities despite volatile crude oil prices.
Talos discovers Daenerys in the Gulf, potential addition of 50 mn boe
The Daenerys oil discovery could increase Talos Energy’s proved reserves by more than 25% and reach 65,000 barrels per day, marking a strategic shift in its Gulf of Mexico portfolio.
Trump’s administration imposes 50% tariffs on Indian exports starting Wednesday
The United States will apply 50% tariffs on Indian exports in response to New Delhi’s purchases of Russian oil, further straining trade relations between the two partners.
The global petrochemical filtration market will reach $6.76bn by 2030
Rising energy demand is driving investments in petrochemical filtration, a market growing at an average annual rate of 5.9% through 2030.
Chevron eyes Libya return after fifteen years away from the oil market
Chevron has opened talks with Libya’s National Oil Corporation on a possible return to exploration and production after leaving the country in 2010 due to unsuccessful drilling.
Canada launches consultation on offshore drilling monitoring
The Impact Assessment Agency of Canada opens public consultation on its 2024-2025 draft monitoring report for offshore oil and gas exploratory drilling off Newfoundland and Labrador.
Cenovus acquires MEG Energy for $7.9 billion in strategic deal
Cenovus Energy announces the acquisition of MEG Energy through a mixed transaction aimed at strengthening its position in oil sands while optimizing cost structure and integrated production.
Vantage Drilling extends conditional agreement for the Platinum Explorer rig
Vantage Drilling International Ltd. extends the validity of its conditional letter of award until August 29, without changes to the initial terms.
Libya’s NOC Plans Bilateral Forum with American Energy Stakeholders
Libya is preparing to host an energy forum in partnership with American companies to boost investment in its oil and gas sectors.
BOEM validates final review for 30 offshore sales in the Gulf of America
The Bureau of Ocean Energy Management formalizes a strategic environmental review, setting the framework for 30 oil sales in the Gulf of America by 2040, in line with a new federal law and current executive directives.
Hungary Seeks U.S. Support After New Disruptions on the Druzhba Pipeline
Amid repeated disruptions on the Druzhba pipeline, attributed to Ukrainian strikes, Hungary has requested U.S. support to secure its oil supply.
Aker BP quadruples estimates for Omega Alfa field in the North Sea
Norwegian producer Aker BP raises its oil potential forecast for the Omega Alfa well, part of the Yggdrasil project, with estimated resources reaching up to 134 million barrels of oil equivalent.
BP Restarts Whiting Refinery After Flooding: Regional Market Pressures Emerge
The gradual restart of BP’s Whiting refinery following severe flooding is driving price and logistics adjustments across several Midwestern U.S. states.
Moretti expected to chair Petrobras board with ministerial backing
Bruno Moretti, current special secretary to the presidency, is in pole position to lead Petrobras’ board of directors after Pietro Mendes’ resignation for a regulatory role.
Next Bridge Raises $6 Million to Fund Panther Project in Louisiana
Next Bridge Hydrocarbons completes a $6 million private debt raise to support its involvement in the Panther project while restructuring part of its existing debt.
Sinopec Shanghai Posts Half-Year Loss Amid Declining Petrochemical Demand
Sinopec Shanghai Petrochemical reported a net loss in the first half of 2025, impacted by reduced demand for fuels and chemical products, as well as declining sales volumes.
Togolese ZIH Acquires Petrogal GB with Structured Financing from Ecobank
Zener International Holding takes over Petrogal’s assets in Guinea-Bissau, backed by a $24 million structured financing deal arranged with support from Ecobank and the West African Development Bank.
Pietro Mendes resigns from Petrobras to lead Brazilian oil agency ANP
Petrobras board chairman Pietro Mendes resigned after his appointment to lead the National Petroleum Agency, confirmed by the Senate.
Bahrain signs strategic energy agreement with EOG Resources
Bahrain has signed an energy concession agreement with EOG Resources and Bapco Energies, reinforcing its national strategy and opening the way to new opportunities in oil and gas exploration.

Log in to read this article

You'll also have access to a selection of our best content.

or

Go unlimited with our annual offer: $99 for the 1styear year, then $ 199/year.

SUBSCRIBE - €99