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Yossi Abu | |
|---|---|
 Yossi Abu, 2020 | |
| Born | July 9, 1977 |
| Nationality | Israeli |
| Alma mater | Hebrew University of Jerusalem |
| Occupation(s) | CEO of NewMed Energy (Delek Drilling) Chairman of Tamar Petruleum Former CEO of Avner Oil & Gas |
Yossi Abu (Hebrew: יוסי אבו; born December 7, 1977) Is an Israeli executive currently serving as the chief executive officer of NewMed Energy (formerly Delek Drilling) of the Delek corporation. In his former position he served as a professional adviser to the Minister of Finance, Roni Bar-On.
Biography
editYossi Abu was born in the Jerusalem district of Israel. Abu has a bachelor's degree in law from the Hebrew University of Jerusalem, which he graduated with honors, and he completed an internship in law at the lawyer's office Yigal Arnon in Tel Aviv.[1] [2]
In the years 2007–2009 Abu served as a professional adviser to the Minister of Finance, Roni Bar-On (of the 17th Knesset of Israel) until in March 2009 he was appointed to Commerce and Regulations manager at Delek Energy.
In 2011 he was promoted to the position of NewMed Energy (Delek Drilling) CEO and has been filling this position since then.[3]
As NewMed Energy CEO, Abu led the development of the Tamar gas field, which was the first major natural gas finding off-shore Israel, and today generates more than 60% of Israel's electricity.[4] In addition, he led the discovering of the Leviathan Natural Gas reservoir finding in 2010 – one of the world's largest offshore gas finding of the past decade.[4][5][6]
As CEO of NewMed Energy he led the financing of the Leviathan Project in the amount of $1.75 billion (The total investment in the first stage of the project was $3.75 billion), and the negotiations with Jordan and Egypt on signing regional export agreements of natural gas from Tamar and Leviathan Reservoirs with an estimated worth of $15 billion.[7][8]
In the years 2016–2017 he also served as CEO of Avner Oil and Gas until its merge with NewMed Energy (Delek Drilling) was signalized.[9] From 2017 Abu serves as chairman of Tamar petroleum (resigned during the year 2019) and as of 2018 he also serves as CEO of Delek Energy.[10]
In September 2021, he signed the sale of Newmed Energy's holdings (22%) in the Tamar gas field to the Emirati's Mubadala Petroleum. The total value of the transaction is estimated at approximately 1.1 billion dollars, and it is considered the largest commercial agreement signed between the United Arab Emirates and Israel since the signing of the Abraham Agreement in September 2020.[11] With the sale of the holdings, NewMed Energy fully fulfilled its obligation in the gas plan, which was approved by the government.
In August 2022, signed a memorandum of understanding with Enlight on a joint venture to establish green energy projects in Egypt, the United Arab Emirates, Morocco and more.[12] Abu also leads the partnership for trading on the London Stock Exchange. [13]
See also
editReferences
edit- ^ Pilot, Adrian (25 November 2010). "Yossi Abu - Director of Trade and Regulation in Fuel Energy". Globes. Retrieved 13 February 2023.
- ^ Sijnja, Jennifer (2018-11-01). "Yossi Abu, CEO of Delek Drilling". The CEO Magazine. Retrieved 2018-12-22.
- ^ Pilot, Adrian (27 March 2011). "Received a promotion: Yossi Abu was appointed CEO of Delek Drilling". Globes. Retrieved 13 February 2023.
- ^ a b Lidman, Melanie. "10 things to know about Israel's natural gas". www.timesofisrael.com. Retrieved 2018-12-22.
- ^ Yaacov Benmeleh and Mirette Magdy (2018-09-27). "Israel, Egypt Gas Partners Buy Control of Key Export Pipeline". Retrieved 2018-12-22.
- ^ Bronner, Ethan (2010-12-30). "Israel Confirms Major Natural Gas Discovery". The New York Times. ISSN 0362-4331. Retrieved 2018-12-24.
- ^ "Israeli Leviathan partners get up to $1.75 billion HSBC, JPMorgan..." Reuters. 2016-11-27. Retrieved 2018-12-22.
- ^ "Egyptian, Israeli firms sign $15bn natural gas deal | Egypt News | Al Jazeera". www.aljazeera.com. Retrieved 2018-12-22.
- ^ "Israeli energy firms Delek Drilling, Avner Oil to finally merge". Reuters. 2017-05-17. Retrieved 2019-01-03.
- ^ "Gideon Tadmor leaves Delek Drilling, Yossi Abu is upgraded". Ynet. 7 January 2016. Retrieved 13 February 2023.
- ^ "Deal of the year: Delek Drilling sold its stake in "Tamar" to a company from Abu Dhabi". Walla. 30 December 2021. Retrieved 13 February 2023.
- ^ "Renewable energy: the revolution of Enlight and NewMed Energy". Walla. 15 August 2022. Retrieved 13 February 2023.
- ^ Ruchwerger, Michael (29 September 2022). "New-Med Energy is merging with the British Capricorn - and will start trading in London". TheMarker. Retrieved 13 February 2023.
External links
edit- Yossi abu's profile on the NewMed Energy website
- Israel looks to new Arab allies to export gas in volatile region, Financial Times, July 22, 2016