IDT to mine Israeli oil shale

IDT Corp. has been granted a license to produce oil from oil shale in Israel.

The New Jersey-based company, best known for its call center outsourcing business, received a seven-year license from the Ministry of National Infrastructure to mine the shale on a tract of land located between Kiryat Gat and Bet Shemesh, according to the Israeli business daily Globes.

Oil shale is considered an alternative energy source. Israel is rich in oil shale reserves, mostly in the northern Negev.

This will be IDT’s first energy venture in Israel.

NEXT STORY