Israel’s Antitrust Authority has announced its approval for energy giant Israel Opportunity Energy Resources LP to acquire exploration rights in a move that will restructure the market. The rights to Pelagic exploration, Gal and Neta licenses will reportedly allow the nation’s Petroleum Commissioner to approve a new ownership structure of the Roy and Neta licenses, of which Israel Opportunity will own 10 percent. Ratio Oil Exploration will own 70 percent and Edison International SpA, based in Italy, will own 20 percent. The Gal license is a deepwater license west of Netanya; it is part of the Leviathan structure. Antitrust officials first got involved with the case when it initially decided Israel Opportunity would have to divest license rights if it discovered natural gas.
Full Content: Globes
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI