BP and UAE’s $2 Billion Israel Gas Deal Suspended as War Rages

NewMed says firms still interested in the deal despite pause
Suspension due to uncertainty in the external environment

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By Galit Altstein, Laura Hurst, and Anthony Di Paola

March 13, 2024 at 8:54 AM UTC

Updated on

March 13, 2024 at 11:56 AM UTC

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BP Plc and the United Arab Emirates’ state oil firm suspended a $2 billion bid to buy a major stake in Israel’s NewMed Energy as the war in Gaza upends politics across the region.