United Arab Emirates Energy Firm Gets a 22 Percent Stake in a Gas Field in Israel

On Thursday, 9th December, the Ministry of Energy of Israel said that Mubadala Petroleum of the United Arab Emirates (UAE) had secured 22 percent of stakes in the Tamar gas field situated off the northern coast of Israel.

The UAE-based company bought the stakes for 1.1 billion US dollars from the Israel-based energy company, Delek Drilling. A deal was signed between the two companies in April this year and has now been approved by th....