Chairman of the Board
Paz Oil Company Ltd.
Paz Oil Company Ltd.
View ProfileYona Fogel
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 272 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 242 stores, which serve thousands of customers daily, in addition to a range of roadside services and subsidiaries, each leading in its field (Pazgas, Paz Oils, Pazkar, Paz Aviation Services, 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 share 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 flagship TA-35 index, which tracks the shares of the top 35 companies with the highest market capitalization. Paz’s credit rating according to S&P Maalot is ilAA-/Stable.
Paz operates three business divisions: Retail and Wholesale; Refining and Logistics; and Industries and Services. 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 Division
Paz owns Israel’s largest gas stations chain with 272 gas stations, 59 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 Division
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 Division
The division incorporates a number of leading subsidiaries in their fields each specializing in developing, producing and marketing oil residual products and alternative energy.
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.
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.
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 “Gold” in 2018. 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.