Palestinians sign Paz supply deal
The Palestinian Finance Ministry in early October signed a two-year contract with Israel's Paz Oil for the supply of fuel to the Palestinian Territories. The rolling agreement, which comes into effect on 1 January 2007, replaces a contract with Israel's Dor Alon, which has supplied the Palestinian Territories since 1994. The new deal saves the Palestinian Authority (PA) about $17 million a year. The fuel will be supplied at international market prices. Paz will assume responsibility for installing the necessary infrastructure in Gaza, including pipelines and fuel tanks.The agreement allows the PA to import crude from outside Israel. The crude will then be refined at Paz's Ashdod refinery, with the Palestinians paying for the cost of refining. The Palestinian Territories require about 1.5 million litres of diesel and 250,000 litres of gasoline a day.
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