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Much trouble for a small company

Noble Energy, a US concessionaire of Israel’s gas fields, moved its only rig from Israeli to Cypriot waters, where Noble also holds a concession.

The company is hardly profitable, with vastly inflated earnings, and it cannot finance gas exploration on a significant scale. Yet corrupt Israeli officials chose not to annul its license and they have done over the years with a number of domestic companies, especially in shale oil exploration.

Instead, the Israeli Navy and IAF are preparing for a confrontation with their Turkish counterparts over the rights of a near-fake company to drill not even in Israeli, but in Cypriot waters.

Noble Energy

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Comments

What if not the company, but also the gazfield is fake?
As if it is an instrument used to eat strawberries with the big ones?

Bente HøvikNorway 30 September 2011

Even if it is fake. It would be wonderful if Israel together with Cyprus and Greece KICK THE TURKISH ASSES!

Viiit 30 September 2011

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Past coverage: corruption
08.09 Corrupt fridges
19.05 Corruption: the battle of titans
01.04 Israel offended Georgia over dirty money
28.03 Deja vu: Israeli PM investigated over travel expenses
17.03 Netanyahu spoils PR opportunity
07.01 WikiLeaks on corruption in Israeli airports
31.12 Israeli companies finance Fatah