Earlier today Israel granted 12 exploration licenses to 6 companies incl BP, for natural gas along the coast.

This is the best summary I could come up with:

JERUSALEM, Oct 30 (Reuters) - Israel's Energy Ministry said on Sunday it had awarded 12 licences to six companies to explore for natural gas off the country's Mediterranean coast, aiming to create more competition and diversify suppliers.

The licence awards, which came as the Israel-Hamas conflict entered its fourth week, included one group led by Italy's Eni (ENI.MI) along with Dana Petroleum and Israel's Ratio Energies (RATIp.TA) which will explore in an area west of the massive Leviathan field, which supplies Israel with gas and is also used for export.

A second group, involving Azerbaijan's national oil company Socar along with BP (BP.L) and Israel's NewMed (NWMDp.TA), will explore north of the Leviathan, the ministry said.

This, the ministry said, will enable the licence holder to first study the area and only then decide whether to continue development.

Responding to a Reuters request for comment, an Eni spokesperson said on Monday that the bid round was launched in December and the Italian group submitted its offer in July.

Reuters reported in July that BP, Socar and NewMed had jointly taken part in the licensing tender.

The original article contains 374 words, the summary contains 185 words. Saved 51%. I'm a bot and I'm open source!

3 comments

The plot thickens....
When the materialism kicks in
This is the best summary I could come up with:
JERUSALEM, Oct 30 (Reuters) - Israel's Energy Ministry said on Sunday it had awarded 12 licences to six companies to explore for natural gas off the country's Mediterranean coast, aiming to create more competition and diversify suppliers.
The licence awards, which came as the Israel-Hamas conflict entered its fourth week, included one group led by Italy's Eni (ENI.MI) along with Dana Petroleum and Israel's Ratio Energies (RATIp.TA) which will explore in an area west of the massive Leviathan field, which supplies Israel with gas and is also used for export.
A second group, involving Azerbaijan's national oil company Socar along with BP (BP.L) and Israel's NewMed (NWMDp.TA), will explore north of the Leviathan, the ministry said.
This, the ministry said, will enable the licence holder to first study the area and only then decide whether to continue development.
Responding to a Reuters request for comment, an Eni spokesperson said on Monday that the bid round was launched in December and the Italian group submitted its offer in July.
Reuters reported in July that BP, Socar and NewMed had jointly taken part in the licensing tender.
The original article contains 374 words, the summary contains 185 words. Saved 51%. I'm a bot and I'm open source!