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May 31, 2012

Occupied Palestine | فلسطين

Wednesday May 30, 2012 10:45 by William Temple – IMEMC & Agencies

Two Israeli oil companies have signed 2 year contracts which will supply all of the gasfuel requirements of the West Bank and Gaza Strip thus extending Israel’s monopoly and strategic leverage over the Palestinian Authority and the lives of Palestinians.

Gaza’s Fuel Crisis

The Paz Oil Company Ltd has extended the Palestinian Authority gas supply contract by two more years. The contract is worth an estimated NIS 1.8 billion annually, or 11.6% of Paz’ total sales, and constitutes 50% of the total gas demand within the West Bank and Gaza Strip.

CEO Yona Fogel said: “This is an important client for us. I see the renewal of the contract as an achievement and which will mark seven years of the relationship between the two sides”. He added: “We were never the sole supplier, and as part of our…

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