Energean Slashes Dividend After Israel Gas Shutdown Cuts Output

UK-based oil and gas producer Energean plc on Wednesday slashed its first-quarter dividend and full-year production outlook following a 41-day halt to production at a gas field offshore Israel due to the Middle East conflict.

Energean suspended production at the Karish platform offshore Israel in early March under orders by the Israeli Energy Ministry. Operations resumed on April 9, after the ministry instructed the company to restore production following the announcement of the U. S. -Iran ceasefire.