Both Capricorn and New Med boards intend to recommend the merger unanimously
Capricorn and New Med to merge
The deal between the two independents leaves London-listed Tullow Oil without a dance partner
London-listed Capricorn Energy plans to combine with Israeli independent New Med Energy instead of UK-headquartered Tullow Oil. The merged company, which will retain the name New Med Energy, will be “one of the largest upstream energy independents listed in London”, Capricorn says. The Capricorn board “intends to recommend [the merger] unanimously” and “has unanimously decided to withdraw its intention to recommend the Tullow combination”. As recently as early September, the Capricorn board was still in favour of the Tullow merger but admitted they were also “assessing all options” and “exploring a number of expressions of interest”. New Med’s board will also unanimously recommend the deal.
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
