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BP and ADNOC Target Eastern Mediterranean Gas Riches: Report

BP p.l.c. (NYSE:BP) shares are trading lower today. The British oil giant and Abu Dhabi National Oil Co (ADNOC) reportedly met with Cypriot Energy Ministry officials on Friday to discuss potential investments in Cyprus’s emerging natural gas sector. Recent major gas discoveries and developments in Egypt and Israel have attracted top companies, especially after disruptions in Russian gas flows due to its invasion of Ukraine, reported Reuters. The report cited a source who said, “The meeting with the ...