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Israel Orders Chevron to Shut Down Gas Platform Near Gaza - The Wall Street Journal

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Israel Orders Chevron to Shut Down Gas Platform Near Gaza - WSJ

Oct. 9, 2023 2:24 pm ET

Israel has ordered Chevron to shut down natural-gas production at one of the two major offshore platforms it operates in the Eastern Mediterranean Sea, the oil company said Monday, a safety precaution amid the continuing conflict that has left hundreds dead in Israel and Gaza.

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While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.

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