Aftermath of an Israeli strike in Lebanon
IOCs undeterred by Middle East conflict
Companies operating offshore assets in the region are unlikely to halt development plans for now, even as hostilities intensify
ExxonMobil, Italy’s Eni and a host of other IOCs operating offshore assets in the Middle East and North Africa (MENA) are expected to soldier on through the widening hostiles that are engulfing Israel, Iran, Lebanon, Yemen, Syria and the Palestinian territories. So far, Chevron is the only IOC that has publicly revealed the suspension of work on an offshore MENA project. NewMed Energy, Chevron’s Israeli partner on development of the Leviathan gas field, said on 6 October that the US oil major had halted the expansion plans until April 2025. NewMed had already suffered a setback this year after BP and Emirati state-owned ADNOC suspended talks to buy 50% of the company, which is the biggest sh
Also in this section
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
