An Israeli oil well has been reported to contain a much larger reserve than originally estimated. The oil exploration company, Givat Olam, has now increased its estimate to 3.53 billion barrels of oil and has already sold $40 million worth of oil from the site.
While Israel is now facing a bright future as an oil producer, there is one problem: Meged 5 is located on the Green Line, the official border between Israel and Palestine. Lying a few dozen meters inside Palestinian territory, according to international law and the Oslo Accords, the well should belong to Palestine .... http://muftah.org