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News Breaks | | | | December 25, 2012 | | 14:23 EDT |  | GNE | Israeli Supreme Court rejects petition against IEI oil shale project
Israel Energy Initiatives,IEI, a subsidiary of Genie Energy, said that it was pleased by a favorable ruling issued by the Supreme Court of Israel. The Court’s decision clears a major legal roadblock and enables this nationally important project to move forward to the permitting phase. In its ruling, the Supreme Court of Israel rejected a petition filed by the Israel Union for Environmental Defense (the “Union”) against various ministries of the State of Israel, IEI and another Israeli oil and gas company, seeking to cancel the regulations governing the permitting process of oil and gas exploration, and seeking to cancel the exploration license granted to IEI. In October, the Court rejected a previous petition filed by the Union challenging the issuance of exploratory licenses, including IEI’s license, issued pursuant to those regulations. IEI said that it now looks forward to the issuance of regulations by the Ministry of Energy that will enable it to prepare the environmental documents needed to file its pilot test permit application with the Jerusalem District Planning Committee. | |
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News For GNE From The Last 14 Days Check below for free stories on GNE the last two weeks. |
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| May 7, 2013 | | 07:02 EDT |  | GNE | Genie Energy reports Q1 EPS 9c, one estimate 2c
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