Israeli Energy Firm Delek Boosted By Tamar Gas Sales

Israeli energy conglomerate Delek Group said on Nov. 29 that third-quarter profit more than doubled, boosted by record sales at its main natural gas field.

Delek reported quarterly profit of 323 million shekels (US$87 million), up from 151 million shekels a year earlier, which excluded the sale of part of its stake in the Tamar offshore gas field.

In 2017, subsidiary Delek Drilling recorded a one-time profit of $567 million from the sale of a 9.25% stake in the Tamar Field, Israel’s main natural gas source.