You have 0 unused credits!

Unlock Reports Now

Payment Card information

Cardholder Name

Card Number

Expiry Month

Expiry Year

CVV

45credits

Are you seeking a comprehensive overview of the latest developments?

Explore Subscriptions >>

Related Topics

Browse all published reports >>
45credits

Friday, March 22, 2024

UAE-ADNOC: MBZ’s reasons behind halting Israel’s NewMed dealnote

ADNOC and BP announced on 15/3/2024 the halt of discussions regarding a 50% acquisition of Israel’s NewMed Energy, citing associated risks with the deal and the Gaza War.

Note that on 23/10/2023, the panel reviewing ADNOC and BP’s offer recommended NewMed to increase the asking price by 10-12%, casting uncertainty on the deal.

UAE President Sheikh Mohammad Bin Zayed (MBZ) indicates that several factors, other than the Gaza War, have played a role in halting ongoing discussions for the deal.

The note highlights the following key aspects:

- The factors that led to the discussions’ halt

- MBZ's views on the status of the deal

- MBZ's and ADNOC's conditions to reconsider resuming the deal

The note also sheds light on the effects of the halt on other UAE-Israeli partnerships.


Subscribe to Newsletter

Join 5,000+ Experts in Defense, Energy, and Government Sectors.