BP And ADNOC Make $2 Billion Bid For Stake Israeli Gas Producer ...Middle East

OILPRICE - Economy
BP And ADNOC Make $2 Billion Bid For Stake Israeli Gas Producer
source : OILPRICE ( Middle East ) () 48
BP and the Abu Dhabi National Oil Company (ADNOC) have bid to acquire a 50% stake in Israel's NewMed Energy, an offshore natural gas producer. The proposal, valued at roughly $2 billion, could signify a significant shift in relations between the Middle East and Israel. The deal holds the potential to bring considerable investment into the Israeli energy sector. With this agreement, further cooperation between Israel and the United Arab Emirates could also be on the table. NewMed Energy has been operating since 2017 and has developed several…

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