Home Entertainment Where does Israel obtain its oil from?

Where does Israel obtain its oil from?

Where does Israel obtain its oil from?

Where does Israel Get Its Oil?

Israel, a small nation with a burgeoning economy, finds itself in a precarious situation in the ever-evolving global oil market. The reality is that the oil market is truly global, providing Israel with some maneuvering room even in challenging times. However, the effectiveness of a potential embargo would heavily rely on the participation of key oil suppliers, particularly Kazakhstan and Azerbaijan.

Iran has called for Muslim countries to impose an oil embargo on Israel.

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Does Israel have its own oil supply?

Israel has limited domestic oil reserves, and it does produce a small amount of crude oil. However, the domestic production is not sufficient to meet the country’s energy needs. As a result, Israel relies on oil imports to fulfill its energy requirements. To supplement its domestic production, Israel imports oil from various sources, making it largely dependent on foreign oil supplies to meet its energy demands.

Israel’s Oil Imports: A Complex Network

Since mid-May, Israel has been importing approximately 220,000 barrels of crude oil per day. An intriguing aspect of this import is that nearly 60% of it originates from two majority Muslim nations. According to data from the analytics firm Kpler, these nations are none other than Kazakhstan and Azerbaijan. West African producers, mainly Gabon, also play a significant role in Israel’s oil supply network.

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Diverse Supply Alternatives and U.S. Support

Despite the risk of a full-blown embargo by Muslim-majority nations, Israel stands on the cusp of diversification when it comes to oil supply. The United States, Israel’s steadfast ally, has emerged as a substantial additional supplier of crude in the global seaborne market. Furthermore, exports from Brazil, which have been steadily making their way to Israel, are on the rise.

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Challenges on the Home Front: Securing Oil Ports

While navigating the global oil market remains a complex task, Israel’s more immediate concern lies in securing its oil ports and adjacent waters. Israel possesses three crucial crude import terminals: Ashkelon and Haifa on the Mediterranean coast and Eilat on the Red Sea. The Ashkelon terminal, handling approximately 180,000 barrels daily, is of utmost importance, but its proximity to Gaza has led to periodic closures, most recently after a Hamas attack in October. Data from Kpler shows that no crude has been imported via the Red Sea terminal at Eilat since 2020, while flows into Haifa have averaged around 40,000 barrels per day.

Middle East Producers and Iran: A Minimal Role in Israel’s Oil Supply

Interestingly, Middle East producers have only played a minor role in Israel’s crude oil supplies. Iran, a prominent regional player, has had no presence in Israel’s oil market. This unique oil supply landscape underscores Israel’s adaptability and resilience in ensuring its energy security, even as geopolitical dynamics continue to shift.

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