Production platform on the Leviathan field
BP and Adnoc bid a further twist in Leviathan tale
Could the NOC/major play for Newmed stake precipitate further changes to the Israeli field’s expansion roadmap?
Israeli independent Newmed Energy’s late-February announcement of an almost $100mn investment by partners in the Leviathan gas field in a pre-Feed expansion study seemed a conclusion of sorts to its development story. But a late March swoop by Abu Dhabi’s state-owned Adnoc and BP for a 50pc interest in Newmed—the field’s largest shareholder—might muddy the waters again. The NOC and major have proposed taking listed Newmed private by hoovering up its 45pc free float and taking a further 5pc ownership from current parent Delek. The two firms will “form a new joint venture that will be focused on gas development in international areas of mutual interest, including the East Mediterranean”. There
Also in this section
14 April 2025
US consumers are not likely to see gasoline prices fall to Trump’s ‘beautiful number’, at least if the president also wants to encourage more drilling
11 April 2025
The Gulf state’s offer to supply electricity-starved Syria is an opportunity to support a key ally, but Doha’s ambitions to build broader pipeline networks to Turkey and Europe face challenges
11 April 2025
As the global economy grows, demand for materials is expected to increase. The way materials are made could incorporate new technologies in the future to ensure economic growth is more sustainable
10 April 2025
Technology, policy and narrative are the three biggest factors that could change the course of our 2050 outlook
