In this article, we will discuss the 15 Biggest Private Oil Companies in the World. You can skip our industry overview and go directly to the 5 Biggest Private Oil Companies in the World. Oil is an essential resource powering industries and economies around the world. The industry is dominated by large multinational corporations, such […]
Energy major BP plc (NYSE: BP), along with the UAE energy company ADNOC, has made a non-binding offer to take Israel’s NewMed Energy private. The proposed acquisition, through an acquisition of the free float and partial purchase of Delek’s stake, would result in BP and ADNOC holding 50% of NewMed Energy. Both parties intend to form a new joint venture that will be focused on gas development in international areas of mutual interest, including the East Mediterranean. The deal is expected to stre
BP has teamed up with the Abu Dhabi National Oil Company to launch a $2bn bid for a 50 per cent stake in an Israeli natural gas group as part of a plan to jointly pursue gas projects in the eastern Mediterranean. Tel Aviv-listed NewMed, which has a market capitalisation of Shk8.6bn ($2.4bn), is majority owned by Israel’s Delek Group. BP said it had partnered with Adnoc to make a non-binding offer to take the company private by acquiring the 45 per cent of NewMed that is publicly traded and 5 per cent of Delek’s stake.