BP Exploration Operating Company Limited and Abu Dhabi National Oil Company made an offer to acquire NewMed Energy - Limited Partnership (TASE : NWMD) from Delek Group Ltd. (TASE:DLEKG) for ILS 7 billion on March 27, 2023. Offer per share of ILS 12.05. As of October 2, 2023, an independent panel reviewing the offer by Abu Dhabi?s national oil company, ADNOC, and BP to acquire a 50% stake in Israeli gas producer NewMed has recommended raising the asking price by more than 10%.

The proposed increase in the acquisition price has introduced an element of uncertainty over the completion of the deal.