Noble Energy has played a key role in discovering and developing Israel’s mammoth offshore natural gas fields, Tamar and Leviathan
Chevron Corporation, the multinational energy firm, said Monday it had entered into a definitive agreement with Noble Energy, Inc. to buy all of the outstanding shares of the Huston, Texas-based oil and gas explorer, in an all-stock transaction valued at $5 billion, or $10.38 per share.

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This is an amazing economic development for Israel.  For nearly the first time, one of the major international oil companies will be investing in Israel.  With such energy multinational investment also comes the political support of the energy industry.  Traditionally, the energy companies supported the Arab lobbying efforts, since they are active in Arab countries, and the Oil Companies came to become a political arm of the Arab lobbying efforts.  With Chevron's investment in Israel, this will now begin to change.

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