Market sources believe a compromise formula has been found to the antitrust issues surrounding the Tamar and Leviathan fields.
Shares in Leviathan’s Israel partners rose sharply on the Tel Aviv Stock Exchange (TASE) today. Investors sense that a compromise is in the offing, ahead of the hearing that will be held later this week for the Leviathan partners by Antitrust Authority head David Gilo.
Market sources believe that the compromise will involve Delek Group Ltd. (TASE: DLEKG), controlled by Yitzhak Tshuva, selling its stake in the Tamar field. At the same time, Noble Energy Inc. (NYSE: NBL), which is the well operator for the Tamar and Leviathan fields, will keep all its holdings, but agree not to sell natural gas in Israel but export its share.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
Delek’s share price was up 3.73% in late afternoon trading while Delek’s energy units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling Limited Partnership (TASE: DEDR.L) rose 5.72% and 6.42% respectively. Ratio Oil Exploration (1992) LP (TASE:RATI.L) rose 7.72%.
Gilo defends gas decision, attacks Energy Ministry
Published by Globes [online], Israel business news – www.globes-online.com
