NEW: Exxon Mobil Corp is considering exploring for oil and gas in Israel, said a person with direct knowledge of the matter, in what would make Exxon the first oil major to operate in the country still technically at war with Gulf Arab states
HOUSTON - Exxon Mobil Corp is considering exploring for oil and gas in Israel, said a person with direct knowledge of the matter, in what would make Exxon the first oil major to operate in the country still technically at war with Gulf Arab states.
Exxon executives held talks with Israeli Energy Minister Yuval Steinitz in Houston this week about bidding for the right to explore and pump oil from offshore blocks in an auction that Israel will hold in June, said the person with direct knowledge. The U.S. major and competitors such as Royal Dutch Shell and France's Total have avoided investing in Israel, for fear of souring relationships with the governments of giant regional oil and gas producers such as Saudi Arabia, Kuwait and Iraq. Those countries do not recognize Israel.
On Tuesday, U.S. Secretary of State Mike Pompeo urged oil and gas companies to use their clout in world markets to advance the Trump administration's foreign policy agenda. That included helping the administration's efforts to isolate Israel's arch-enemy Iran, and Venezuela.
Israel gas production is dominated today by a handful of local, Greek and U.S. companies. The country became a producer in 2013 with the launch of the Tamar field, operated by U.S. explorer Noble Energy Inc. Noble is developing the Leviathan and is scheduled to begin production later this year.
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