Ithaca Energy faces scrutiny over ties to Israeli settlements

Ithaca Energy is facing criticism and legal warnings regarding its ownership by the Delek Group, an Israeli conglomerate linked by the United Nations to activities in occupied Palestinian territories.

In the United Kingdom, Ithaca Energy recently announced a major dividend payout. Following this, it was reported that the Delek Group, which owns more than 50 per cent of Ithaca, was set to receive nearly £100m from profits generated by UK oil fields. This comes as the UK targets firms linked to illegal Israeli settlements.

In Canada, the provincial government of Newfoundland and Labrador has indicated it does not intend to block Ithaca Energy’s entry into the local oil sector. The company is acquiring stakes from Suncor in the Terra Nova, White Rose, and West White Rose offshore projects. Human rights advocates and legal experts have raised concerns, suggesting that failure to intervene could pose liability risks for federal and provincial governments.