Menu JTA Search

Israel to Have Enough Oil for Country’s Needs; Pacts Concluded

Israel’s Delek Oil Company has concluded agreement to acquire enough oil to meet the country’s needs, it was announced here today.

The oil, to be carried in the three vessels of Israel’s tanker “fleet” will come partly from Mobiloil and partly from Shell. Both companies now operate in Israel. Shell will refine and sell 33 percent of the total, Mobiloil will handle 20 percent and the remainder will be Deleks share for sale on the Israel market.

The Palestine Electric Company, Israel’s largest consumer, is currently shopping around for an independent source for the oil it needs. The Soviet abrogation of the contract to provide Israel with oil will not be felt until later, Israeli circles say.

Meanwhile, Moshe Carmel, Minister for Transport has told the public there is no need for a panic and that oil supplies are nearly adequate. Restriction in the use of electric power and transportation were introduced to save as much oil as possible, he said.