On Wednesday, BP Inc. (NYSE:BP) reassured investors that its $2B deal with Abu Dhabi National Oil Co. (Adnoc) to jointly buy a 50% stake in Israeli gas producer NewMed Energy (OTCPK:DKDRF) remains on track, despite Israel’s ongoing war with Hamas in Gaza. According to Reuters, BP’s head of gas and low-carbon energy Anja-Isabel Dotzenrath told shareholders at the company’s investor day in Denver that they remain “very optimistic” about the deal. The two companies are reportedly weighing on whether to improve their initial offer. NewMed Energy (OTCPK:DKDRF) is the majority shareholder and main operator of the giant Leviathan Natural Gas Field with a 45.3% working interest, while Chevron Corp.(NYSE:CVX) and Ratio Oil Corp. have a 39.7% and 15% stake, respectively.
But that reassurance does not necessarily mean the deal is close to being consummated.
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