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Israel Electric in talks to cut Tamar gas price

Israel Electric in talks to cut Tamar gas price
globes.co.il - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globes.co.il Daily Mail and Mail on Sunday newspapers.

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Chevron allows Tamar partners to sell gas separately


Chevron allows Tamar partners to sell gas separately
The new agreement announced by the Israel Competition Authority will save Israel Electric Corp. NIS 100 million.
The dispute between the partners holding rights to the Tamar and Leviathan offshore gas fields, which has been continuing over the past year, has finally been resolved, resulting in estimated savings of NIS 100 million for the Israel Electric Corporation (IEC) (TASE: ELEC.B22). From now on the Tamar Partners Isramco, Tamar Petroleum, Dor Gas and Everest Infrastructures, who hold 53% of the rights to the Tamar field will be abler to sell gas more cheaply to the IEC. ....

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Bezeq takes a hit as communications minister approves huge rate cut


Dec. 16, 2020
As days go, Tuesday couldn’t have been worse for Bezeq, Israel’s dominant telecommunications provider.
First, the Communications Ministry said it would back arch-rival Hot Telecom’s plan to buy the fiber-optic network provider IBD. Then the ministry announced it would be holding hearings to slash rates of Bezeq’s key landline telephony service by 40%.
Shares of Bezeq tumbled 12% over Tuesday and Wednesday in heavy trading to end at 3.44 shekels ($1.04) on the Tel Aviv Stock Exchange. More than a billion shekels was wiped off the company’s market capitalization in a single stroke.
“We are coming out today with a move designed to right a long-suffered consumer wrong that affects every household in Israel, in which we are revising Bezeq’s controlled fixed line telephone prices downward,” Communications Minister Yoaz Hendel said in a statement. ....

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