Oil Refineries
| Oil Refineries Ltd. Qvutzat Bazan Məchuyyavim lə-Machar
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|---|---|
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| legal form | Limited |
| ISIN | IL0025902482 |
| founding | 1958 |
| Seat | Haifa , Israel |
| management |
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| Number of employees | 1444 (2016) |
| Branch | Petroleum industry |
| Website | www.bazan.co.il |
The Oil Refineries Ltd. (ORL) ( Hebrew בָּתֵּי זִקּוּק לְנֶפְט בע"מ B attej S iqqūq lə- N epht BaʿAM , German 'Houses of Refining for Naphtha GmbH' , as the acronym B a S a N ,בז״ן, or anglophone Bazan Ltd. with z for voiced s ) is an Israeli petrochemical company based in Haifa , which is also the operator of Israel's largest refinery .
The company's history goes back to the time of the League of Nations mandate for Palestine , when Consolidated Refineries Limited (CRL) was founded in the 1930s , a joint venture between Royal Dutch Shell and the Anglo-American Oil Company (part of Esso). The refinery complex in Haifa was built until 1944 at the end of the pipeline between Mosul and Haifa. Due to the Arab boycott , the British government sold the company CRL in 1958 to the State of Israel, which changed the name to ORL and carried out restructuring and expansion. The Ashdod Oil Refineries also belonged to the state group ORL until 2006 , making ORL the refinery monopoly in Israel.
In the course of privatization, ORL went public and sold the refineries in Ashdod to the Paz Oil Company .
In the Bazan Ltd. 1444 people were employed in 2016. The Israel Corporation , which is majority owned by the Ofer Brothers Group , holds 33% of the company's shares. Israel Petrochemical Enterprises Ltd. held a further 16% . , the remaining shares are freely traded.
See also
Web links
Individual evidence
- ↑ Bazan Group Basan: Committed to tomorrow .
- ↑ a b Annual Report 2016 (page 49)
- ↑ Raphael Semiat, Emily Frangenberg: Israel's Chemicals Industry: From the Desert to the Dead Sea (online publication, published October 2015; accessed July 27, 2017)