About
Israel Energy Initiatives Ltd (IEI) is an Israeli company based in Jerusalem. IEI is developing an environmentally acceptable approach to produce clean transportation fuels from oil shale utilizing its In-Situ conversion technology. The Shfela basin holds a total of 150 billion barrels of oil equivalent, over 40 billion barrels of which are in IEI's license area. IEI is a subsidiary of Genie Energy, which is a publicly traded (NYSE: GNE) company based in Newark, NJ (Genie was recently spun off from the international holding company IDT). IEIs affiliate, AMSO, is engaged in an oil shale project using a different concept of In-Situ conversion, on Federal land in Colorado, through a joint venture with oil giant Total. IEI holds an exclusive exploration and production license granted by the Israeli Government pursuant to Israels Petroleum Law. Under the terms of the license, IEI is obligated to conduct a comprehensive geological reconnaissance study in the license area (70,000 acres), and a subsequent small scale field production test (pilot). The pilot goals are to demonstrate that the In-Situ conversion process (ICP) is technologically feasible, economically viable and environmentally responsible.
Company Intelligence Q&A
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- What is the primary focus of Israel Energy Initiatives (IEI)?
- Israel Energy Initiatives (IEI) is developing an environmentally acceptable approach to produce clean transportation fuels from oil shale using its In-Situ conversion technology.
- Where is Israel Energy Initiatives (IEI) based?
- Israel Energy Initiatives (IEI) is based in Jerusalem, Israel.
- What is the status of Israel Energy Initiatives (IEI) as of December 2014?
- According to startupim data, Israel Energy Initiatives (IEI) has been inactive since December 2014.
- What is Israel Energy Initiatives (IEI)'s relationship with Genie Energy?
- Israel Energy Initiatives (IEI) is a subsidiary of Genie Energy, a publicly traded company on the NYSE (GNE) based in Newark, NJ.
- What is the extent of IEI's license area in the Shfela basin?
- Israel Energy Initiatives (IEI) holds a license area in the Shfela basin containing over 40 billion barrels of oil equivalent, out of a total of 150 billion barrels.
- What license does Israel Energy Initiatives (IEI) hold from the Israeli Government?
- Israel Energy Initiatives (IEI) holds an exclusive exploration and production license granted by the Israeli Government under Israel's Petroleum Law.
- What was the outcome of the Shfela fracking pilot project in September 2014?
- In September 2014, the Jerusalem District Committee rejected the Shfela fracking pilot project, though IEI's VP stated they would not give up on the oil shale project.
- How many employees did Israel Energy Initiatives (IEI) have?
- Israel Energy Initiatives (IEI) had 31 employees, falling into the 11-50 employee bucket.