According to FUNDER website data,
61 mutual funds hold NIS 13.55 million in Tamar Petroleum
Funds that hold significant holdings in the stock – for the full list of holdings
In addition to this data, Forte Shares holds Tamar Petroleum shares Missing in scope Of 0.15% of the fund.
The following is a change in the holdings of the mutual funds in the Tamar Petroleum share according to FUNDER-MVF data.
• Net cash flows from operating activities in 2020 amounted to approximately $ 179.5 million
• An increase of over 40% in gas sales from the reservoir in the second half of 2020 compared to the first half of the year
• The Tamar reservoir is the first and only one currently paying the Sheshinsky levy, thereby increasing the state’s revenues
Tamar Petroleum, which holds 16.75% of the rights in the Tamar gas reservoir, publishes its financial statements for the fourth quarter and for the entire year 2020 and shows an increase of 18.8% in the company’s net profit in the fourth quarter to about $ 35.2 million, compared to about $ 29.6 million in the corresponding quarter last year. .
The reports show that the company’s royalties less royalties in the fourth quarter amounted to approximately $ 59.8 million, compared with approximately $ 71.2 million in the corresponding quarter last year. The decrease is mainly due to a decrease of about 13.6% in the average price of natural gas sold in the quarter and a decrease of about 5.5% in the quantities of natural gas sold. In the whole of 2020, the company’s revenues less royalties amounted to approximately $ 212.1 million, compared to $ 292.1 million in 2019.
Meanwhile, the volume of gas sold from the Tamar reservoir in the fourth quarter amounted to about 2.5 BCM, compared to about 2.6 BCM in the corresponding quarter last year, while in 2020 the entire volume of gas sold amounted to about 8.2 BCM, compared to about 10.4 BCM in 2019. The decrease is mostly from the beginning. Production from the Whale Reservoir, partially offset with new agreements signed by the company, including the export agreement to Egypt, under which the supply of natural gas began in July 2020.
In fact, this is the first full quarter in which quantities of transducer gas have been sold to Egypt since the agreement went into effect. Moreover, in recent months, the Tamar reservoir has begun to pay the state a Sheshinsky levy on gas sales agreements, in addition to royalties of more than half a billion NIS paid during 2020 from the Tamar reservoir alone.
Liami Weissman, CEO of Tamar Petroleum: “We conclude the fourth quarter of 2020 with positive momentum in gas sales from the Tamar reservoir, following the growing demand for gas in the economy, and we also enjoy significant districts signed in the last year. Accordingly, in the second half of 2020 there was an increase of over 40% in gas sales from the reservoir.” Of the year and we expect a significant increase in demand in the local market, among other things in light of the government’s policy to stop using coal. “
The company mentions that during 2020, agreements were signed with the rest of the partnership in the database for the sale of gas to Bazen and ICL, with an estimated amount of approximately $ 240 million. Moreover, in January and after ongoing negotiations led by Tamar Petroleum, Isramco Alon Gaz and Everest, the entire partnership in the Tamar reservoir signed an agreement that allows each partner to market gas separately and effectively removes Chevron’s “block” (marketing right) from the reservoir.
Accordingly, it was decided in the agreement that the IEC would purchase additional quantities of gas in the amount of at least 0.44 BCM during the first half of 2021 beyond the minimum amount to be charged under the supply agreement.
Weissman adds that “The steps we have taken, including a compromise agreement signed by all Tamar and IEC partners, the gas supply agreements with Bazan and ICL and the gas export agreement to Egypt will support increasing sales from the reservoir. We continue to work to sign new agreements with other customers and be a significant player in the Israeli gas economy.”