Murphy Oil Draws Boycott Call Over Israeli Gas Licenses

Pro-Palestinian activists targeting Murphy Oil for its involvement in an Israeli offshore gas venture are pressuring the Houston-based company to relinquish six Zone G exploration licenses. These licenses, held in partnership with Israel's Ratio Energies, cover approximately 1,700 square kilometers of seabed near the Leviathan gas field.

Murphy Oil operates under the licenses, which were awarded to Eni, Ratio Energies, and Dana Petroleum in October 2023. Eni withdrew earlier this year due to a reallocation of investments, and Israel's Energy Ministry announced Dana's exit on Monday, following protests and complaints. Both Dana and its parent company, Korea National Oil Corporation (KNOC), have not commented on the matter.

Activists in Scotland, South Korea, and Italy have hailed the exits as victories, urging investors, insurers, and contractors to abstain from the project. The campaigners argue that a portion of Zone G overlaps with maritime boundaries declared by Palestine in 2019, which Israel does not acknowledge. Furthermore, they cite a July 2024 International Court of Justice advisory opinion asserting Israel's unlawful exploitation of natural resources in the occupied territories.

Murphy Oil, which has now replaced Dana and Eni, is expected to face similar pressure. The company announced four production sharing contracts in Cameroon on Wednesday, with Ratio Energies holding 36 months to drill an exploration well in Zone G. Ratio also owns 15% of the Leviathan gas field, which supplies Egypt under a $35 billion export contract.