Delek's Q3 profit soars above NIS 1b after Tamar sale - GLOBES

Asi Bartfeld, CEO, Delek Group

29 Nov, 2017 14:16
Globes correspondent

Delek Group also announced that it intended to cash in its super royalties from the Tamar and Dalit reservoirs in the near future.

Yitzhak Tshuva-controlled Delek Group Ltd. (TASE: DLEKG), whose share price has fallen 30% this year, today reported that its net profit had risen steeply to NIS 1.024 billion in the third quarter. NIS 873 million of this came from the sale of 9.25% of Delek Drilling Limited Partnership's (TASE: DEDR.L) holding in the Tamar natural gas reservoir to the Tamar Petroleum partnership. Delek Group's net profit in the third quarter of 2016 was NIS 85 million.

Israel's gas royalties up 8.5% in 2016 - GLOBES

16 Feb, 2017 7:06
Nati Yefet

Royalties from the Tamar reservoir rose 7%, despite the fall in the price of natural gas.

Natural gas royalties from the Tamar reservoir totaled NIS 819 million in 2016 (Note: €1=3,93 NIS, $1=3,70 NIS), accounting for most of the royalties from natural resources in that year. 2016 natural resources royalties totaled NIS 854 million, up 8.5%, compared with NIS 788 million in 2015. Additional natural gas royalties came from the Yam Tethys (NIS 1.8 million), Meged (NIS 4.7 million), Heletz (NIS 313,000), and Tamrur Cliff (NIS 11,000) gas fields.

According to the Ministry of National Infrastructure, Energy, and Water Resources, royalties from Tamar grew 7%, despite the fall in the price of natural gas. Fees from various projects totaled NIS 5 million.

Israel made NIS 3B in natural gas royalties in 2016, minister says - ISRAEL HAYOM

Energy Minister Yuval Steinitz, Thursday

Friday February 3, 2017Shlomo Cesana

• A delegation from the Turkish Energy Ministry is expected to visit Israel next week for talks on a joint pipeline project, Energy Minister Yuval Steinitz says

• Israel is pursuing a similar venture with Italy, in a project involving Greece and Cyprus.

Israel's royalties from the production of natural gas came to 3 billion shekels ($798 billion) in 2016, Energy Minister Yuval Steinitz said Thursday, during a media tour aboard the Atwood Advantage, an ultra-deepwater drill ship exploring the Tamar offshore gas field.

Atwood Advantage is one of the three largest vessels of its kind in the world. It is expected to finish its work in Tamar by April 2017 and move on to the development of the nearby Leviathan offshore gas field.

Israel's gas royalties hit new record - GLOBES

16/08/2016, 14:16
Globes correspondent

Royalties from gas and oil rose 12.8% in the first half of 2016, the Ministry of Energy reports.
The Ministry of National Infrastructures, Energy and Water Resources has reported a new NIS 411 million (96 million euro) record in revenues from fees and royalties related to natural gas, oil and minerals in the first half of 2016.

The lion's share of these revenues was due to natural gas and oil royalties, a total of NIS 394 million in the first half of 2016. NIS 392 million royalties were received for a 4.5 BCM natural gas output at the Tamar gas field. This constitutes an impressive 12.8% rise from the corresponding period last year.

The Energy Ministry sees gas royalties of NIS 2.1 billion annually by 2020 | Globes

Natural gas royalties to quadruple by 2020

19/05/2014, 18:57

Amiram Barkat

The Energy Ministry sees gas royalties of NIS 2.1 billion annually by 2020.

Government revenues from natural gas royalties will consistently grow until 2020 from when they will total NIS 2.1 billion annually according to a forecast from the Ministry of National Infrastructures, Energy and Water Resources' Natural Resources Administration Division of Royalties, Accounting and Economics.
This is quadruple the revenue from royalties in 2013 which amounted to NIS 543 million, and tenfold the royalty revenues of NIS 233 million in 2012.

The forecast includes natural gas royalties, oil and natural quarrying materials such as phosphates and copper (not including royalties from the Dead Sea Works). According to this forecast overall royalties between 2014 and 2020 will amount to NIS 9.7 billion. Natural gas royalties will account for 94% of the royalties received over this period. The Sheshinski Committee kept the rate of royalties from natural gas at 12.5%.
Energy Minister Silvan Shalom said, "The Ministry is working to expand royalty collection to increase State revenues and reduce the cost of living. The special expertise that the ministry has gained allows it to operate the best and most effective control mechanism in natural resources royalties."

According to the Energy Ministry there will be a sharp rise in State revenue from 2018 when gas starts flowing from the Leviathan field. In March, The Petroleum Commissioner issued owners notes for Leviathan requiring the field's operators to develop and produce natural gas from the license area according to a prearranged timetable.

Published by Globes [online], Israel business news - www.globes-online.com - on May 19, 2014
© Copyright of Globes Publisher Itonut (1983) Ltd. 2014


Link to source: http://www.globes.co.il/en/article-natural-gas-royalties-to-quadruple-by-2020-1000939755