Zion Oil And Gas Inc's Comment on Sales, Marketing and Customers
The company operates within the Israeli domestic crude oil market, which consists of two local oil refineries. According to the Petroleum Law, the company may be obligated to offer first refusal of any discovered oil and gas to Israeli domestic purchasers at market prices. Since Israel imports nearly all of its crude oil, the company anticipates a local market for its oil at market prices, with the possibility to export to the international market if exploratory wells prove commercially productive.
Zion Oil And Gas Inc’s Comment on Sales, Marketing and Customers
The company operates within the Israeli domestic crude oil market, which consists of two local oil refineries. According to the Petroleum Law, the company may be obligated to offer first refusal of any discovered oil and gas to Israeli domestic purchasers at market prices. Since Israel imports nearly all of its crude oil, the company anticipates a local market for its oil at market prices, with the possibility to export to the international market if exploratory wells prove commercially productive.
Sources:
Zion Oil and Gas Inc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
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