Christian Zionist oil company announces its plans to begin drilling new exploratory well in Israel’s Lower Galilee.
By Israel Today Staff
Zion Oil & Gas, Inc. (NASDAQ GM: ZN) announced today that it has met and complied with two key conditions set by Israel’s Petroleum Commissioner, enabling it to move toward drilling its next deep oil well, about 40 kilometers (~25 miles) south of the Sea of Galilee, where the Jordan and Jezreel Valleys meet.
The State of Israel produces only a few thousand barrels of oil a day, which means it relies on the global market for more than 99 percent of its consumption. Continue Reading »