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BAZAN Group
BAZAN Group (BAZAN, Hebrew: בז"ן – בתי זיקוק לנפט בע"מ), formerly Oil Refineries Ltd. (ORL), is an oil refining and petrochemicals company located in Haifa Bay, Israel. It operates the largest oil refinery in the country. ORL has a total oil refining capacity of approximately 9.8 million tons of crude oil per year with a Nelson complexity index of 9. ORL provides a variety of products used in industrial operations, agriculture and transportation. ORL is Israel's largest integrated refining and petrochemical facility. The company also provides storage and transportation services for oil fuel products, as well as electricity and steam to industrial customers in the region.
The company is traded in the Tel Aviv Stock Exchange under the symbol ORL. Until 2020, it was a component of the Tel Aviv 35 Index.
The company's beginnings date back to the British Mandate for Palestine when Consolidated Refineries Limited (CRL), a joint venture of Shell and the Anglo-Iranian Oil Company (now BP), started constructing a sprawling refinery complex which sat at the end of the British-built Mosul–Haifa oil pipeline which stretched from the oil fields near Kirkuk in then British-controlled Iraq.
Construction of the first refinery unit started in 1938 and was carried out by the M. W. Kellogg Co. with assistance from Solel Boneh, with an annual capacity of two million tons of crude oil. Construction was completed in 1944, increasing the annual yield to four million tons of crude oil.
During World War II, the complex supplied refined products to British and American forces operating in the Mediterranean and Middle East theatre, and was bombed many times during the early stage of the war, by Italy. Damage to the refineries was quickly repaired.
On December 30, 1947, a group from the Irgun hurled two bombs from a passing car into a crowd of Arab workers, killing 6 and injuring 42. In response, Arab workers rioted, beating 39 Jewish workers to death and wounding 49. The two events became known as the Haifa Oil Refinery massacre.
Due to concerns about the Arab League Boycott, the British Government sold CRL to the State of Israel in 1958 which then changed its name to Oil Refineries Ltd.
Since then the complex has undergone significant expansion and upgrades. In the past, ORL also owned the Ashdod Oil Refinery in southern Israel and therefore as a company, it held a monopoly over oil refining in the country. This changed in 2006, when Israel's Government Companies Authority, headed by Eyal Gabbai started privatization processes.
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BAZAN Group
BAZAN Group (BAZAN, Hebrew: בז"ן – בתי זיקוק לנפט בע"מ), formerly Oil Refineries Ltd. (ORL), is an oil refining and petrochemicals company located in Haifa Bay, Israel. It operates the largest oil refinery in the country. ORL has a total oil refining capacity of approximately 9.8 million tons of crude oil per year with a Nelson complexity index of 9. ORL provides a variety of products used in industrial operations, agriculture and transportation. ORL is Israel's largest integrated refining and petrochemical facility. The company also provides storage and transportation services for oil fuel products, as well as electricity and steam to industrial customers in the region.
The company is traded in the Tel Aviv Stock Exchange under the symbol ORL. Until 2020, it was a component of the Tel Aviv 35 Index.
The company's beginnings date back to the British Mandate for Palestine when Consolidated Refineries Limited (CRL), a joint venture of Shell and the Anglo-Iranian Oil Company (now BP), started constructing a sprawling refinery complex which sat at the end of the British-built Mosul–Haifa oil pipeline which stretched from the oil fields near Kirkuk in then British-controlled Iraq.
Construction of the first refinery unit started in 1938 and was carried out by the M. W. Kellogg Co. with assistance from Solel Boneh, with an annual capacity of two million tons of crude oil. Construction was completed in 1944, increasing the annual yield to four million tons of crude oil.
During World War II, the complex supplied refined products to British and American forces operating in the Mediterranean and Middle East theatre, and was bombed many times during the early stage of the war, by Italy. Damage to the refineries was quickly repaired.
On December 30, 1947, a group from the Irgun hurled two bombs from a passing car into a crowd of Arab workers, killing 6 and injuring 42. In response, Arab workers rioted, beating 39 Jewish workers to death and wounding 49. The two events became known as the Haifa Oil Refinery massacre.
Due to concerns about the Arab League Boycott, the British Government sold CRL to the State of Israel in 1958 which then changed its name to Oil Refineries Ltd.
Since then the complex has undergone significant expansion and upgrades. In the past, ORL also owned the Ashdod Oil Refinery in southern Israel and therefore as a company, it held a monopoly over oil refining in the country. This changed in 2006, when Israel's Government Companies Authority, headed by Eyal Gabbai started privatization processes.