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Company's Profile

Established: 1922
Line of Business: Energy and Retail
Address: Euro Park, Holland Building, Kibbutz Yakum 6097200
Phone: 972-9-8631111
Fax: 972-9-8631255
Email: [email protected]
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Company Executives

  • Avraham  Bigger, Paz Oil Company Ltd.

    Avraham Bigger

    Chairman of the Board

    Paz Oil Company Ltd.

  • Nir Sztern, Paz Oil Company Ltd.

    Nir Sztern


    Paz Oil Company Ltd.

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About Paz Oil Company Ltd.

Paz Group is Israel’s largest and leading energy and retail company and a unique player in the Israeli economy. The Group has a varied activity range from owning an upgraded refinery and private power cogeneration plants, to retail gas stations and convenience stores, wholesale fuel marketing, LPG and jet fuel, to oils and sealants. Activities throughout the supply chain have synergetic value and create significant advantages for the Group, allowing it to lead in all areas of its operations.

Paz is the only Israeli energy group to own a refinery and a leading chain of 265 gas stations. “Paz” has a strong and leading brand preferred by consumers in the field of convenience stores through the operation of the “Yellow” convenience store chain of 240 stores, which serve thousands of customers daily, in addition to a range of roadside services and subsidiaries, each leading in its field (Pazgas, Paz Lubricants, Pazkar, Paz Aviation Services, and Paz Aviation Assets).

Paz was founded in 1922 and became a Shell subsidiary in 1927. From 1999-2016 Paz was controlled by Bino Holdings Ltd., owned by Zadik Bino with Dolphin Energy and Instanz Holdings (Lieberman Group). Since 2016, Paz no longer has a controlling stake and the company is wholly owned by the public. 

In November 2006, Paz held one of the largest shares and bond IPO’s known by the Tel Aviv Stock Exchange (TASE) and is since considered one of the leading companies in the Israeli economy. Paz is listed on the TASE’s TA-125 index, which tracks the shares of the top 125 companies with the highest market capitalization. Paz’s credit rating according to S&P Maalot is ilAA-/Negative.

Group Structure

Paz operates four business segments: Retail and Wholesale; Refining and Logistics; Industries and Services, and Real Estate. The divisional structure has the expertise to meet customer needs, enhance competitiveness and product quality to continue growth. Paz also emphasizes long-term planning and investment to uphold values of excellence and leadership.

Retail & Wholesale Segment

Paz owns Israel’s largest gas stations chain with 265 gas stations, 60 retail areas throughout the country and hundreds of Yellow convenience stores located in gas stations. The chains offer advanced services and a broad range of products that are the Division’s engine of growth together with retail complexes that increases traffic to gas stations and Yellow stores and bring in extra revenue. The Division’s activities include wholesale fuel marketing to large customers and marketing fuel to vehicle fleets through Pazomat, Israel’s largest electronic fueling company.

Paz’s broad customer base includes industrial, institutional, aviation and governmental companies and organizations. Paz owns a quality asset portfolio allowing optimal performance in the retail network and maintaining its status as a leading company.

Refining & Logistics Segment

The division manages the Group’s oil refinery, import of crude oil and products, manufacturing oil derivatives and producing electricity and steam for its own use and electricity for sale. The division coordinates the Group’s logistic activities including storing fuels, production, streaming, transport, and procurement services. The oil refinery operates to the strictest environmental and safety standards, strives for high product quality, and invests hundreds of millions of dollars in improving capabilities and content. In 2013, after investing NIS 1.5 billion, and completing installation of the new projects, the refinery was upgraded so that refining capacity increased to approximately 5.4 million tons annually, improving and diversifying product composition, operating flexibility and energy consumption. The complexity of the refinery is rated 9.5 according to the Nelson complexity index. The company produces 109 MW per hour through two cogeneration plants on the refinery complex.

The geographic advantage of proximity to consumers, accessibility to infrastructures, the fact that Paz is the anchor customer of the oil refinery, the range of income sources and electricity sales, the range of customers and sales markets put together, allow the creation of refining margins with positive premiums above benchmark refining margins. 

Industries & Services Segment

The division incorporates a number of leading subsidiaries in their fields each specializing in developing, producing and marketing oil residual products and alternative energy.

Pazgas: Israel’s largest supplier of LPG (cooking gas) for household and industrial use.

Paz Lubricants & Chemicals: Manufactures, imports and markets lubricant and solvent products for the domestic and export markets.

Pazkar: Develops, produces and markets advanced sealing and insulation solutions: waterproofing membranes (bitumen), coatings, sealants and adhesives, for infrastructure and building companies in domestic and international markets.

Paz Aviation Services and Assets: Provides jet and aviation fuel and storage and fueling services to local and international airfields.

Real Estate Segment

In the Real Estate Segment, the Company is engaged in optimizing the use of its owned real estate properties while promoting rezoning plans for achieving land potential and appreciation; leasing income-producing commercial real estate to third parties and providing related property management services. The fair value of real estate assets of Paz Group total approximately NIS 4.0 billion.

Corporate Social Responsibility

Along with leadership and initiative in the business sector, the Paz Group is committed to corporate social responsibility (CSR). Paz is a member of the Ma’ala CSR Index since 2009 and was rated “Platinum” in 2020. In line with this outlook, Paz implements operation in the environmental sector in cooperation with the Ministry of Environmental Protection including soil surveys, and rehabilitation work, as required. Since acquiring Oil Refineries, Paz has made many investments in improving the environment including building biological sulfur reclamation and wastewater treatment facilities and building cogeneration plants to produce electricity from natural gas. Paz views integrating business activities with environmental responsibility as a strategic goal.

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