Israel’s Petroleum Council has backed the acquisition of Noble Energy by Chevron.
Noble Energy raised the possibility of selling out to Chevron on May 12. The super-major took only until May 28 to indicate it would be keen for such a deal.
Delek Drilling has raised $2.25 billion through a bond issue to refinance debt taken out for its Leviathan project.
Delek Group’s reliance on restructuring its debt and selling its assets in order to cover its liabilities has led it to note some concerns that it would able to continue as a going concern in its annual report.
A pipeline in Egypt’s Sinai has been bombed, according to reports on February 2, but imports from Israel have continued unabated.
Gas exports from Israel’s Leviathan field to Egypt began on January 15.
A decade after its discovery was lauded as a guarantor of Israel’s energy security, the giant Leviathan natural-gas field started production Tuesday. But instead of anticipating a coal-free future, residents living near the gas platform have abandoned their homes for a day.
An Israeli court issued a temporary injunction against the Leviathan project, a giant natural gas field led by Delek Drilling LP and Noble Energy out of concerns that it may endanger the health of the public.
Israel has approved permits to export gas to Egypt, from offshore fields. First exports are expected in January.
Egypt and Israel have signed a natural gas supply deal at the Investment for Africa Forum, with the US government stepping in to provide insurance on the agreement.
Heerema’s Sleipnir vessel broke a world record over the weekend, completing a lift of 15,300 tonnes.
Delek Drilling today confirmed that project partners have taken a final investment decision (FID) on the Leviathan field development in the Mediterranean.
An Israeli company has inked a deal to buy up to $700million of natural gas from the Leviathan field, which is under development in the Mediterranean.
The companies that own the rights to Israel’s largest natural gas pool are close to securing the $4 billion financing needed to develop the field, according to the chief executive officer of one of the partners.
Israel’s monopoly watchdog has forced energy firm Delek Group and its partner, Noble Energy, to sell their interests in two gas fields in the Mediterranean amid competition concerns.
Israel has approved the development of the $5billion Leviathan natural gas field which is set to give Israel a second source of gas supply and turn it into a gas exporter.
Partners in the Leviathan natural gas site in Israel are said to be in talks to supply gas to a number of companies in the region. A statement to the Tel Aviv Stock Exchange showed a message from units of Delek Group which said the firms were private electricity producers and industrial companies.
Israel plans to leave its biggest offshore natural gas project, Leviathan, in the hands of a U.S.-Israeli consortium while opening the industry to more competition, under a proposal announced on Tuesday. Prime Minister Benjamin Netanyahu had been adamant in seeking a deal that would allow Leviathan to be developed and sought a parliament vote to let the state circumvent the antitrust authority, which has expressed opposition. When some ministers said they would not support such a position, Netanyahu faced a coalition crisis and ultimately the vote was postponed due to lack of a majority.
A forum of top Israeli ministers will meet on Thursday to try to break up a regulatory logjam stalling the development of Israel’s biggest natural gas field. Disputes over ownership and pricing have held up the production of gas from the offshore Leviathan gas field, controlled primarily by Houston-based Noble Energy Inc. and Israel’s Delek Group Ltd. Ministers will be asked to declare gas resources a national security issue, overriding the country’s antitrust authority to push ahead a contested natural gas policy.