Sale of UAE share in Leviathan field put on hold, New Med Energy announces

Yitzhak Tshuva's company, New Med Energy, has announced to the Tel Aviv Exchange that negotiations for the sale of 50% of its shares have been terminated due to "a high level of uncertainty."

The potential buyers of this stake in New Med Energy, which holds 45% ownership of the Israeli Leviathan gas field, were slated to be the British oil-producing company British Petroleum and the state oil-producing company of the Abu Dhabi emirate, ADNOC.

It's worth noting that Tshuva had previously sold his rights to the Tamar field to another state-owned company from Abu Dhabi; Mubadala Investment Company.