Chevron sees East Med value
The major was attracted first by Noble’s gas assets. This could be promising for breaking the deadlock on the rocky road to monetising the region’s finds
The timeline of Chevron’s $5bn takeover offer for US independent Noble Energy makes for interesting reading, particularly for the nascent Eastern Mediterranean gas industry. The major’s announcement of the deal in July focused on both Israeli and US Permian and DJ basin assets, but an August SEC filing makes it clear that its interest was first in East Med gas. Chevron’s general manager for M&A, Frank Mount, first approached a Noble executive in October, the filing records, to say that it “had been monitoring Noble Energy’s progress in the Eastern Mediterranean”. Mount then “indicated that Chevron was contemplating entry into the upstream sector in Egypt and indicated potential interest
Also in this section
29 April 2026
The UAE’s exit from the alliance marks a decisive step towards a world in which oil markets are shaped less by collective management and more by national strategy
29 April 2026
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
29 April 2026
The UAE’s departure from the oil producers’ group was a surprise to many, but the move can be traced back to a single point five years ago
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
