Category: Financial / Legal / Administrative / Political

A reference to the volume weighted average of realised prices for a month and an oil producing region is a reference to the amount (expressed as an amount of dollars, calculated to the nearest cent, per kilolitre) obtained by dividing the sum of the transaction prices in respect of quantities of excisable crude petroleum oil obtained from that region that are entered for home consumption during the month by the total volume of that oil.

Auction to price 1 million bundles

The Submarine Areas Law stipulates that the territory of the State of Israel shall include the sea floor and underground of the submarine areas adjacent to the shores of Israel that are outside Israel territorial waters, to the extent that the depth of the superjacent water permits the exploitation of the natural resource situated in such areas