Author: Gastón Saidman


    Since the start of the covid19 pandemic, the oil price WTI fell from 45$ per barrel to 10$ BPD, considering that although the price was between 45-50$, this was still not enough to see large gains. Since that, ,  over  the last few years, the price has suffered a drop from $ 80 to the $ 45 mentioned before the pandemic arises. The black gold market has not lived its best moment for a long time.


    With the covid19 pandemic the market get close, airports, ports and therefore the transfer of crude oil reached its minimum, affecting the producing countries, which decided after a long discussion with Russia to cut production and try to revive the price, something that did not happen, at least not at the desired time.

    Saudi Arabia along with the OPEC+  associated countries was the one who led the first production cut when the fall price was in its beginnings, the idea was to see the possibility of balancing the price and reducing losses, the problem was that this strategy did not was as expected , investors did not see that this move achieves an expected rise, something very different from previous years, so they did not collaborate and a massive sale together with the effect of the pandemic, ended by lowering the price of a barrel to $ 10.


    On May 4, countries such as New Zealand and India reported a relaxation in the restrictions implemented by the pandemic, due to the low numbers of infected people. Expectations were very positive, since together with these changes the same day the charts showed an upward change placing the price at $ 20.85, the feeling of relief when also hearing that other countries opened their borders enthusiasm the investors who saw the opportunity. The end of the fall had ended and is confirmed on May 15 with a closing of $ 29.51 BPD, bringing the price we see today between $ 39-41 BPD. Although for the producing countries to see relevant gains, the price should reach 70 dollars, Saudi Arabia revived mass production, breaking with the implemented cut-off rules dictated by OPEC+, and let’s not forget that they were requested by Saudi Arabia, who today breaks the pact taking advantage of the situation and the future demand that is approaching when the heavens open, which implies fuel consumption again.


    Currently Saudi Arabia is suffering one of its worst economic crises where the sale of crude oil is not a fort as we knew years ago, this influences its desire to be the leading country in the Arab world, a position that competes against Iran, and part of its strategy is to begin to make public its approach to the West. It is not new that Saudi Arabia has relations with the United States, England or France; it is new that the last two years it has begun to make public its relations with Israeli businessmen that until the moment they were behind the scenes.


    The Saudi interest is to start a series of investments in new technologies with the aim of being able to align with the modern world and get out of the aforementioned crisis.


    Israel strengthens in the zone            


    At a time when conflicts between the United States, Russia and China are growing, Israel could be the most reliable country at the moment, even that other Gulf countries are also interested in beginning a careful approach to the Jewish state.


    Saudi Arabia may be interested in purchasing the Firefly, a marauding kamikaze drone built in Israel, part of the Spike family of missiles, which was sold to several countries in Europe and sparked the kingdom’s (Saudi) interest, while it was under Iranian threats.
    The same interest is being born in other countries in the Middle East, increasing the importance of Israel in the eyes of various Gulf States. The problem arises from the accusing finger of the United States who criticizes the sale of the Russian S-400 anti-missile defense system to the Saudis, at a time when Trump criticizes Turkey for closing a purchase of the same anti-missiles, describing the agreement as a business with a country that said leader supports terrorism, referring to Erdoğan, which puts the Saudis in a quite conflictive situation, so what better than to start closing agreements with Israel, a country that apart from being an advantage against China and Russia, does not maintain relations with Iran which is also considered by Saudi Arabia as the UAE its arch enemy and a threat to the Middle East.
    Let us also remember that the lack of support from the Americans during the season of revolts in the Middle East known as the “Arab Spring” revolution, weakened the image of the United States creating a distrust that lasts until today, followed by the same American disinterest in failing to react forcefully to alleged Iranian attacks on key Saudi oil facilities, as well as oil tankers off the coast of the United Arab Emirates.


    Gulf states may be beginning to understand that cooperation with Israel could be very positive, being in a very good time today to buy Israeli weapons at a time when the interest in erasing Iran’s influence in Syria is mutual with Saudi Arabia and the UAE. This is an opportunity for all the opponents of the Islamic Republic that governs from Tehran; we can say that now Israel would be the best ally for this fight.
    Seeing everything so positive from the West, we have to understand that normalizing relations between the Gulf countries and Israel is still not so easy. Although it is difficult, it is not impossible in a few years.


    At the moment they can start to build these relationships, very carefully. The Gulf countries at the same time must take care of their image before the public opinion of their citizens who base their way of life, beliefs and customs still under the strict law of Islam and its traditions that partly see western culture as a threat to the union between their cultural legacy and religion.


    The argument taken by the rulers of these countries to start this new path should be the technological potential of this cooperation and how it could contribute to stabilize the labor market, which was badly damaged by the losses brought about by the fall of the Petroleum. It is very good to imply that cooperation with Israel is not only limited to the field of security. As Israel is a Startup Nation, the installation of laboratories in search of new energy sources, for example, or smart technologies, would provide jobs, goods and public services.
    Today the Middle East is facing an opportunity that if it knows how to use it will be great for all participants, but this cooperation will have to be done intelligently and not quickly, respecting the times and conditions required by the political culture of the zone, understanding that in part there will be things that are beginning to be made public and others that will take a different rhythm, Israel could be the new door to the Middle East for new entrepreneurs and innovators.



    By: Gaston Saidman


    During the last year, due to the failed attempts to create a government in Israel, the parliamentary committees were inactive; with only the Finance Committee being allowed to continue working in order to deal with issues such as the annual budget and the possibility of having control over the budget permits in case of elections. (more…)


    By: Gaston Saidman

    The new plague known as the corona virus keeps the world on alert. The price of the
    oil stock prices was already worryingly low. In the energy market, the mineral better
    known as black gold (oil) has been unstable since 2018.The new virus definitely
    caused the price to drop to $ 20.30 BPD. (more…)

  • Is Israel facing a great opportunity in the gas market?

    Is Israel facing a great opportunity in the gas market?


    By: Gaston Saidman


    In recent weeks, the Persian Gulf was the scene of violent events that are viewed as acts of aggressive offensive by Iran in response to US sanctions, and it is obvious that the tension influences the energy market. However, the price of crude oil did not rise as expected. (more…)

  • Israel, Cyprus and Argentina – A new initiative for peace, business and more

    israel cyprus chamber of commerce

    Author: Gastón Saidman

    The new management team of the Chamber of Commerce Israel – Cyprus is preparing for a year of new initiatives with an extensive agenda. The Chamber of Commerce will be part of not only commercial projects but will also work together with the different governmental institutions to improve mutual relations between the two countries in the near future.

    The board began a series of meetings with the aim of marking its contribution on political, social and of course, commercial issues. (more…)

  • Israel and Cyprus launch commercial and parliamentary cooperation

    From left to right: Eran Cohen, Leon Amiras, Ambassador Salina Shambos, Mr. Sofronis Papageorgiou and Gastón Saidman.

    The meeting was attended by the President of the Chamber of Commerce Israel Cyprus, Adv. Leon Amiras, the General Manager of the Chamber of Commerce, Mr. Eran Cohen, the Ambassador of Cyprus in Israel, Ms. Salina Shambos and the Head, Commercial and Economic Affair  Mr. Sofronis Papageorgiou. The meeting was organized by Yediot Ha Knesset, which always supports this type of activities as a journalistic medium, granting a parliamentary information service from an internal base. (more…)

  • The gas era will revolutionize the Middle East

    Author: Gaston Saidman

    Oil was always the most used mineral because of its use in the development of multiple products that are necessary for our daily lives without us even realizing it, such as the construction of asphalt, plastic to create a simple pen and even the ink for the pen. (more…)

  • Israel-Europe gas pipeline MoU signed

    Energy Ministers from Israel, Greece, Italy and Cyprus agreed to push ahead with the 2,100 kilometer pipeline linking Israel and Italy.

    Ministers of Energy from Israel, Cyprus, Greece and Italy today signed in Cyprus a memorandum of understanding (MoU) for the laying of an underwater gas pipeline from Israel to Italy, Israel’s Ministry of National Infrastructures, Energy and Water Resources has announced. The ministry said, ‘This is a major step in promoting the laying of an underwater gas pipeline from Israel via Cyprus, Greece and Italy.”During the summit in Nicosia, the four minister put out a joint statement that this is a strategic infrastructure project representing the shared interests of the countries and the EU regarding natural gas.

    The planned pipeline will be 2,100 kilometers long, cost NIS 25 billion, and will be completed by 2025.

    Minister of National Infrastructures, Energy and Water Resources Yuval Steinitz who has worked intensively to promote the project, said after the signing ceremony, “The vision that I declared in Israel took shape at the meeting in Cyprus today. The Israel-Italy underwater gas pipeline will make Israel an important player in the European energy market.”

    The planned pipeline will allow Israel to sign long term deals to export gas to Greece, Italy and other European markets. Steinitz said, “This project will strengthen the energy security of the EU and diversify Europe’s sources of supply of natural gas.”

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    From 1.1.2014 the corporate tax in Israel has increased to 26.5% from 25%.
    On dividend a shareholder that hold 10% and above will pay 30%, all the other will pay 25%

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    Before you decide to open a company in Israel you have to know some important issues about the tax system in Israel
    The corporate tax from 1/1/16 is 25% after that tax we have to know the rate tax on dividend.