10/27/2026
Canadian offshore oil set to finance activities that violate international law and human rights.
• Financing Settlements and Military: Ithaca's dividends flow to Delek Group, which is on the UN OHCHR database for activities related to Israeli settlements. Delek also holds contracts to supply fuel to the Israeli military (IDF).
• The "Underwriting" Concern: Critics argue this creates a moral taint. Activist group Palestine Action YYT stated: "Newfoundlanders and Labradorians did not build an offshore industry to underwrite that. Not one barrel of our oil should pad the profits of anyone tied to apartheid and ethnic cleansing.".
• Legal Complicity: The CJPME argues that under International Court of Justice (ICJ) rulings, political leaders are obliged to avoid economic dealings with companies involved in the occupation, calling the acquisition "unacceptable.".
🏛️ Political Objections: A Contradiction in Policy
The political objections center on the deal directly undermining the Canadian government's public commitments.
• Undermining Sanctions: The deal is seen as contradicting Prime Minister Mark Carney's September 8 commitment to ban trade with Israeli settlements and enforce measures against those who facilitate them. Critics question how Canada can enforce this while allowing a major asset sale to a company that profits from settlements.
• Federal Parliamentary Pressure: The NDP has pushed for federal intervention. MP Heather McPherson asked in the House of Commons if the government will "step in to stop this acquisition." In response, Liberal MP Robert Oliphant suggested the government may be "investigating" the matter.
• Provincial Reluctance: In Newfoundland and Labrador, Premier Tony Wakeham declined to comment on Ithaca's "political things," stating the entry "bodes well for our industry". The provincial government does not intend to stop the deal.
• Legal Liability Concerns: Law professor Heidi Matthews warns that the federal and provincial governments, as well as Suncor and the provincial crown corporation OilCo, could face legal risks for failing to intervene, given the company's ties.
• Corporate "Shield": Both Ithaca and the provincial government have deflected criticism by pointing to Ithaca's status as a UK-incorporated, London Stock Exchange-listed company with its own independent board, framing it as a standard corporate governance matter rather than a political one.
💎 Summary
The ethical and political objections are fundamentally about consistency. Critics argue that allowing dividends from Canadian resources to flow to a UN-blacklisted entity with military contracts directly contradicts Canada's stated commitments to international law and human rights. The political response has so far been cautious, with federal authorities hinting at an investigation while provincial leaders prioritize economic benefits over the ethical concerns raised.
Proposed Ithaca Energy acquisition of Suncor’s interests in Terra Nova, White Rose and West White Rose.
Ithaca Energy is majority-owned by Delek Group, an Israeli energy conglomerate controlled by billionaire Yitzhak Tshuva. Delek has been named in the United Nations human-rights database concerning companies involved in Israeli settlements in the occupied Palestinian territory. It has reportedly held contracts to supply fuel to the Israeli Ministry of Defense and the Israel Defense Forces (IDF).
Ithaca has already funneled billions in dividends to Delek from its international operations. If this Suncor acquisition proceeds, profits from our offshore oil will flow directly through Ithaca to this Israeli parent company.
political leaders are celebrating this transaction without adequately accounting for who ultimately owns these assets.
🔗 The Ownership Chain: Ithaca → Delek → Tshuva
The connection starts with a direct corporate chain leading back to Israel:
• Ithaca Energy's Parent: Ithaca Energy is majority-owned by Delek Group, an Israeli oil and gas company. Delek holds approximately 50.56% of Ithaca, making it the controlling shareholder.
• Delek Group's Controller: The controlling shareholder of Delek Group is Israeli billionaire Yitzhak Tshuva. According to Forbes, Tshuva served in the Israeli army and worked in Israel's Ministry of Defense, and he is estimated to be worth USD $6.9 billion.
• Delek's Origins: Delek Group was founded in 1951 as Israel's first fuel marketing company and is one of the largest and most established companies in Israel. Together with its subsidiaries, it was responsible for Israel's energy revolution through the discovery of major gas reservoirs like Leviathan and Tamar.
🇮🇱 Delek's Direct Ties to the Israeli State and Military
Beyond its corporate identity, Delek has direct, documented ties to Israeli state and military apparatus:
• IDF Fuel Contract: Delek reportedly holds a multi-million-pound contract to provide fuel to the Israeli Ministry of Defence and the Israel Defense Forces (IDF). This contract has been described as worth hundreds of millions of pounds.
• Settlement Operations: Delek reportedly owns petrol stations in Israeli settlements in the occupied West Bank. It is accused of providing "services and utilities supporting the maintenance and existence of settlements, including transport," and using "natural resources, in particular water and land, for business purposes".
• UN Blacklist: Because of these activities, Delek Group was named on a United Nations database of 112 companies whose activities in the West Bank "raised particular human rights concerns". The database was compiled after a UN fact-finding mission investigated the impact of settlements on Palestinians.
💰 The Financial Pipeline: Dividends Flowing to Israel
The financial relationship between Ithaca and Delek is significant and ongoing:
• Over $1 Billion in Dividends: Since 2020, Ithaca Energy has funneled over $1 billion (£754 million) in dividends to Delek Group from its UK oil and gas interests.
• More Profits Expected: Analysis from an investigation by The Ferret showed that Delek would be set to receive over £200 million more if the Rosebank oil field is approved.
🛢️ The Newfoundland and Labrador Connection
This is where the social media post you shared comes in: the Suncor deal would directly expand this pipeline into Canadian waters. If the sale goes through, Ithaca Energy would take over Suncor's stakes in the Terra Nova, White Rose, and West White Rose projects off the coast of Newfoundland and Labrador. This means billions of dollars in potential profits from Newfoundland and Labrador's offshore oil could ultimately flow to Delek Group in Israel.
In short, the post was correct to flag the Israeli connection. The chain is: Newfoundland and Labrador oil → Ithaca Energy → Delek Group (Israel) → Yitzhak Tshuva.
If you would like to look into any specific part of this further, feel free to ask.
Still looking good for being out on the banks coming up on 30 years, I wonder how many foggy days she has seen 🤔.