Energean suspends 2026 Israel guidance as war stops production

Israel shutdowns cloud 2026 forecast

The Israeli Energy Ministry ordered partial, temporary closures in February of the country's gas reservoirs, in line with security assessments.

"We are in close and continuous communication with the authorities to ensure that operations can be safely restarted as soon as conditions allow," CEO Mathios Rigas said in a statement.

Average working-interest production at the end of February stood at 155 thousand barrels of oil equivalent per day (kboed), Energean said on Thursday, including 118 kboed from Israel and in line with the 145 to 155 kboed guidance for 2026 issued in January.

The company also reported adjusted core profit of $1.12 billion for the 12 months ended December 31, down from $1.16 billion a year earlier. Its production from Israel averaged 113 kboed for 2025, up one per cent year-on-year, while total production stood at 154 kboed.

(Reporting by Nithyashree R B in Bengaluru; Editing by Sherry Jacob-Phillips and Pooja Desai)