BP, ADNOC offer to buy 50% of Israel's NewMed Energy
The offer would involve acquiring NewMed's free floating shares and taking the company private and would mark Abu Dhabi National Oil Co (ADNOC) and BP's entry into Israel's growing energy sector. ADNOC and BP said they intend to form a new joint venture as part of the deal that will be "focused on gas development in international areas of mutual interest including the East Mediterranean."
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