Daily Israel Report
17:30
Reported

News Brief

  10/30/2013, Cheshvan 26, 5774

Ex-IDF Chief to Leave Gas Company After Coming Up Dry


He defended Israel in Operation Thunderbolt, and rose to the highest rank in the Israel Defense Forces. But Gabi Ashkenazi seems to know when a battle is no longer worth fighting, as the gas company he headed recently came up dry. The former IDF Chief-of Staff announced Wednesday his decision to leave as head of Shemen Oil and Gas Exploration. He headed the promising company since 2011 amid massive discoveries of other off-shore natural gas.

But two weeks ago, the company announced that despite great expectations, no oil was found in the highly anticipated off-coast well. Ashkenazi said the company will now focus on saving money and consolidating its resources.