NEW analysis has shown that a fossil fuel firm with links to an Israeli company supplying fuel to the IDF is set to make millions from the Rosebank oil field.
The Aberdeen-headquartered Ithaca Energy is majority-owned by the Delek Group — an Israeli company which also part-owns Delek Israel, a firm which allows IDF vehicles to refuel at its petrol stations in the country.
Ithaca Energy owns 20% of the proposed Rosebank oil field, which was granted approval by the UK Government in September last year despite the protestations of climate campaigners.
Yet analysis conducted by WWF Norway has found that the Delek Group is expected to receive around £253 million in revenue from Rosebank, which is set to start producing oil in 2026.
The Delek Group was among 112 firms included in a UN Human Rights Council list of companies whose activities in the occupied West Bank “raised particular human rights concerns”.
The list stated that the Delek Group was included due to its provision of “services and utilities to support the maintenance of Israeli settlements” and for using natural resources in the West Bank for “business purposes”.
The Delek Group owns 25% of Delek Israel.
Last month, The Ferret reported that Delek Israel’s contract to supply fuel to the IDF was renewed and increased by a further £130 million in 2024.
The Rosebank field, which sits around 80 miles off the coast of Shetland, is currently subject to legal challenges from campaign groups who argue that the UK Government’s decision to approve the project is unlawful due to its incompatibility with climate change commitments.
He said: “Offering up even more of the North Sea to oil and gas giants is an act of extraordinary environmental vandalism from the UK Government, but with these newly revealed connections to the horrific genocide in Gaza, it would be scandalous to let these plans go ahead.
“I hope that Labour will finally pull the licence of the Rosebank development and bring this disaster of a scheme to an end for good.”
Ithaca Energy recently merged with Italian oil giant ENI.
Following the merger, the Delek Group remains the largest shareholder with a 50.7% stake in Ithaca Energy.
While Ithaca owns 20% of Rosebank, the further 80% is owned by the Norwegian state-owned oil company Equinor.
Stine Wilhelmsen, a climate and energy campaigner for Greenpeace Norway, said pressure to scrap the project was growing.
"It’s completely indefensible that Equinor is continuing to pursue the Rosebank oil field despite knowing how this could fuel the illegal and bloody occupation of Palestine,” she said.
"Rosebank will send more than 300 million USD in profits to a company that also supplies fuel to the Israeli military. This is unacceptable.
"As Norwegians, we all own a stake in Equinor.
“We refuse to stay silent while our state-owned oil company is contributing to the suffering of the Palestinian people.
“The public and political pressure is growing, and we won’t stop until Equinor cuts all ties with Ithaca and cancels Rosebank once and for all."
“Delek Group is a shareholder of Ithaca Energy and their shareholding has recently been reduced following the business combination with Eni UK.
“The communications team has forwarded this to the Group’s counsel and are weighing its legal course of action in relation to the article.”
A spokesperson for Equinor said: “Equinor has no relationship with Delek Group.”
The UK Government, the Delek Group, and the Israeli embassy have all been contacted for comment.
