DayofPal—Italian energy giant Eni has withdrawn from a gas exploration consortium offshore Israel, according to an announcement by Ratio Energies.
The consortium, also involving UK-based Dana Petroleum, had been formed to explore natural gas in the offshore area known as Block “G” off Israel’s coast.
Ratio Energies said it and Dana Petroleum will continue efforts to secure the necessary licenses following Eni’s exit, adding that they are currently evaluating potential compensation the Italian firm may be required to pay for withdrawing from the agreement.
In a statement, Eni said the decision was part of a broader strategy to streamline and diversify its exploration and production activities.
But the move was welcomed by the Boycott, Divestment and Sanctions (BDS) movement, which described it as a “major victory.”
In a post on X, the group said Eni’s withdrawal from “illegal operations” in waters off occupied Palestinian territory represents a significant loss of confidence in Israel’s economy.
The BDS movement also called for increased pressure on Eni to end all forms of “complicity,” referring to the company’s broader investments linked to Israel.
The development comes amid ongoing scrutiny of international energy projects in the region and growing calls by advocacy groups to hold corporations accountable for activities tied to the Israeli-Palestinian struggle.
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