bp - ADNOC Group Deal For Israel’s NEWMED Under Threat The proposed deal for bp and ADNOC Group to take 50% of key Israeli upstream firm NEWMED is on shaky ground. UK major bp and UAE state firm #Adnoc’s joint bid to take 50% of Israel’s key upstream player NEWMED Energy is in danger of collapsing as months of negotiations have revealed deep-seated issues that could prove to be a bridge too far. While it is not unusual for a deal of this magnitude and geopolitical significance to progress.