London and Tel Aviv-listed oil and gas group Energean was Europe’s worst-performing stock on Monday, shedding almost a fifth of its market value after the outbreak of war in Israel, even as its production remained unaffected.
Energean shares plunged 19.1 per cent, putting them on track for their worst daily decline since March 2020, LSEG data showed.
Energean has operations in eight countries across the Mediterranean, as well as in the North Sea. Its sites include the Karish, Karish North and Tanin fields, between 75km and 120km off the coast of Israel.
Energean said its operations, based in northern Israel, had not been affected by the fighting.
“We are and will continue monitoring the events closely and are prepared to manage any scenario and will update as and when necessary,” Energean said.
Chevron said it had been instructed to halt production at its offshore Tamar gasfield, which lies to the south of Energean’s Karish field.
