State royalties on natural resources totaled NIS 305 million in the first half of 2014, and the Ministry of National Infrastructures, Energy and Water Resources expects royalties to reach NIS 705 million for the year.
State royalties on natural gas and oil jumped 51% in the first half of 2014, compared with the first half of 2013, due to gas production from the Tamar reservoir.
Most of the royalties on natural resources came from natural gas and oil, which totaled NIS 297 million in the first half of the year: NIS 292 million from the Tamar and Yam Tethys reservoirs, and the rest (NIS 5 million) from oil production royalties.
State royalties from Israel Chemicals Ltd. (TASE: ICL) for phosphates amounted to NIS 4.5 million in the first half, less than in the corresponding period last year. "The decrease resulted from a drop in the global price of phosphate and the fall in the shekel-dollar exchange rate," the Ministry of National Infrastructures said.
Revenues from fees and various operations totaled NIS 3 million.
Published by Globes [online], Israel business news - www.globes-online.com - on September 7, 2014
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