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Three Groups Apply for Oil Drilling Licenses in Israel

September 3, 1952
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Three foreign and local groups of investors have already applied for permits to drill for oil in Israel, it was learned here today.

In an address at the Berl Katznelson Institute, Minister of Trade and Industry Dov Joseph today declared that Israel’s total industrial export potential is in the vicinity of $130,000,000 annually. He compared this goal with Israel’s $16,000,000 worth of exports during 1951 and cited Israel’s basic needs as more electrical power and raw materials.

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