An energy company on its way to the renewable energy industry – the capital market

Navits Petroleum enters the green energy industry? The company has informed stock market investors that it is currently reviewing projects and promoting collaborations in the field of renewable energies. How high are Navits’ chances of entering the industry?

Navits Peter Yahsh
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According to the wording of the announcement, it is clear that the company is very serious about expanding its activities and is awaiting the final approval of ISA.

The Navits share is soaring today in trading and the company’s market value crosses NIS 0.8 billion. Navits Petroleum is part of a limited partnership engaged in exploration, development and production of oil and natural gas – in the United States (in the Gulf of Mexico and in the states of Texas and Louisiana) and Canada. The stock exchange, which will enable gas-oil partnerships to incorporate projects in the field of renewable energy into their activities.

It should be noted that Navits is not the only energy giant, in local terms, that is considering entering the renewable energy industry. Also an Israeli opportunity

Opportunity will
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She turned to the Securities Authority to expand its field of activity beyond the exploration and production of oil and gas to the field of renewable energy as well. After them, other companies are expected to come and take advantage of this, as happened in 2016 when the partnerships requested and received permission from the PA to operate outside Israel.

In conversation with BizPortal In December, people close to the company

Energian
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His message that in the face of falling energy prices leads the company to look for activity in other energy channels. “Based on the huge jump in the company’s solar energy shares, they did not rule out penetration into this industry and stated that as long as the investment is economic and it is in the area of ​​the company’s operations, they do not rule it out.”

Although the Energian statement is a softer statement than the Navits report and the confidence expressed in the company’s environment, it also testifies to the huge interest the industry is arousing among the veteran energy players.

A similar process is taking place around the world. British Petroleum (BP) plans to reach a destination similar to that of. Both companies are aggressively investing in wind and solar energy projects around the world – for this purpose, they are selling polluting projects.

Another example is the Velro (VLO) company that distills oil, sees how this division is falling apart, while it sees handsome sums of money flowing into the department of turning cooking oil into diesel. French energy giant Total (TOT) spends $ 3 billion a year on renewable energy projects.