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Chevron Ordered to Halt Leviathan Gas Production Amid Rising Tensions [Yahoo! Finance]
Last chevron corporation earnings: 5/1 06:45 am
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US:NYSE Investor Relations: chevron.com/investors
Chevron Corporation CVX has declared force majeure at the Leviathan natural gas field after Israel's government ordered a temporary production halt on security grounds. The move follows escalating regional tensions, including joint U.S.-Israeli strikes on Iran and retaliatory developments across the region. This marks the second disruption in less than a year impacting Eastern Mediterranean gas flows. The Leviathan field, Israel's largest offshore gas reservoir, is operated by Chevron Mediterranean Limited with a 39.66% stake. Other key partners include NewMed Energy (45.34%) and Ratio Energies (15%). Regional Energy Supply Disrupted With Leviathan offline, a significant share of Israel's gas export capacity has been effectively frozen. The field is a cornerstone of energy supply to Israel, Egypt and Jordan. Israel's Leviathan gas field is its most significant energy asset, containing an estimated 22.9 trillion cubic feet of recoverable natural gas. Since commencing productio
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