 |
Louisiana Light • 2 days | 86.79 | -0.77 | -0.88% | ||
|
Bonny Light • 1 day | 85.43 | -2.61 | -2.96% | ||
|
Opec Basket • 3 days | 88.72 | +0.00 | +0.00% | ||
|
Mars US • 181 days | 77.26 | -1.51 | -1.92% | ||
|
Gasoline • 10 mins | 2.582 | +0.005 | +0.18% |
|
Bonny Light • 1 day | 85.43 | -2.61 | -2.96% | ||
|
Girassol • 1 day | 86.37 | -2.70 | -3.03% | ||
|
Opec Basket • 3 days | 88.72 | +0.00 | +0.00% |
|
Peace Sour • 8 hours | 72.20 | -2.93 | -3.90% | ||
|
Light Sour Blend • 8 hours | 75.25 | -2.93 | -3.75% | ||
|
Syncrude Sweet Premium • 8 hours | 82.20 | -2.93 | -3.44% | ||
|
Central Alberta • 8 hours | 72.60 | -2.93 | -3.88% |
|
Eagle Ford • 2 days | 78.41 | -0.70 | -0.88% | ||
|
Oklahoma Sweet • 2 days | 78.25 | -0.75 | -0.95% | ||
|
Kansas Common • 2 days | 72.25 | -0.75 | -1.03% | ||
|
Buena Vista • 3 days | 87.60 | -1.22 | -1.37% |
Oil Prices Move Higher After a Volatile Week
After a volatile week, oil…
Russia's LNG Expansion Plans Hit the Wall
The Kremlin has set an…
Chevron Shuts Down Israeli Natural Gas Field After Hamas Attack
Following this weekend’s attack by Hamas on Israel, Chevron, the operator of the Tamar gas field offshore southern Israel, has shut down production at the field per instructions from the Israeli energy ministry.
“Chevron Mediterranean Limited was instructed by Israel’s Ministry of Energy to shut in production at the Tamar Production Platform,” the local unit of the U.S. supermajor said in a statement carried by Reuters.
Chevron Mediterranean Limited operates Tamar and has a 25% stake in the field, alongside Isramco (28.75%), Tamar Petroleum (16.75%), Mubadala Energy (11%), Tamar Investment 2 (11%), Dor Gas (4%), and Everest (3.5%).
At Tamar, six production wells produce volumes of natural gas ranging from 7.1 to 8.5 million cubic meters per day each. Most of the natural gas processing takes place on the Tamar platform situated 24 kilometers (15 miles) west of Ashkelon. Tamar supplies 70% of Israel's energy consumption needs for electricity generation, Chevron says.
Chevron has an interest in another gas field offshore Israel, the Leviathan gas field, the biggest energy project in Israel ever, after it bought Noble Energy.
While Tamar was ordered shut after the Hamas attack on Israel, the giant Leviathan field continues to operate normally, Chevron said on Monday.
After the shutdown of the Tamar field, Israel will seek alternative sources to meet its energy needs, the Israeli energy ministry said.
Following the surprise attack on Saturday, Israel declared war on Hamas and began retaliation on the Gaza Strip, while cutting off power supply to the Palestinian territories.
The weekend attack on Israel and the continued fighting between Hamas and Israel sent oil prices jumping by $4 a barrel early in Asian trade on Monday.
The price surge follows the biggest attack on Israel in years, after in the early hours of Saturday Hamas fighters entered the country by land, sea, and even air, and attacked Israeli towns.
ADVERTISEMENT
By Tsvetana Paraskova for Oilprice.com
More Top Reads From Oilprice.com:
- OPEC Hikes Oil Demand Forecast To 116 Million Bpd In 2045
- Oil Prices Soar After Hamas Attacks Israel
- Exxon Shale Boss Arrested On Sexual Assault Allegations
Tsvetana Paraskova
Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.
Related posts
Open57.81
Trading Vol.6.96M
Previous Vol.241.7B
Hard to see where oil demand would be coming from as Global Airlines start retreating from the Middle East and look elsewhere for more peaceful and certainly non-violent destinations almost all of which are now in the USA and Canada with even that somewhat suspect at the moment. Remarkable to see the XOM bid for PXD still not be marked at the price allegedly offered. Presumably there is an actual bid.