Fact-checked by Grok 2 weeks ago

BAZAN Group

BAZAN Group, operating through Oil Refineries Ltd., is Israel's preeminent integrated energy conglomerate specializing in and production, situated in the industrial zone. With a daily crude processing capacity of 197,000 barrels, it generates fuels, , , and aromatics, fulfilling over 70% of the nation's domestic requirements while exporting the balance primarily to markets. The group encompasses subsidiaries Carmel Olefins Ltd. and Gadiv Industries Ltd., enabling synergistic operations that position BAZAN as a cornerstone of Israeli industry and a high-complexity facility ranked 9 on the . Despite its economic significance and adherence to Euro V standards, BAZAN has encountered environmental challenges, including criminal charges for violations and structural failures such as a cooling tower collapse. In June 2025, the complex suffered damage from an Iranian missile strike, claiming three lives and necessitating partial shutdowns, though operations have since partially resumed with full restoration anticipated.

History

Founding and Pre-State Operations (1930s–1948)

The Haifa , precursor to the BAZAN Group, was established under the British Mandate for Palestine by Consolidated Refineries Limited (CRL), a between Royal Dutch and the Anglo-Iranian Oil Company (now ), to process crude oil arriving via the newly operational Kirkuk- from . Construction of the initial refining units commenced in 1938 near the pipeline terminal in , undertaken primarily by the American engineering firm M.W. Kellogg Company, with construction support provided by , the Jewish Agency-affiliated labor federation's building cooperative. The first unit entered operation in November 1939, enabling initial refining of Iraqi crude into , , and other products, though full complex completion extended into the early 1940s amid disruptions. Operations during the relied on a mix of pipeline-supplied oil from —accounting for roughly half the feedstock—and tanker imports of crude from ports like , reflecting the refinery's strategic role in regional energy supply under oversight. By mid-1943, the facility employed approximately 1,000 workers, positioning it as one of 's largest industrial sites and a hub for both Arab and Jewish labor, with the Palestine Arab Workers Society maintaining a notable presence amid Mandate-era labor tensions. The refinery's output supported military demands during the war, including , but faced supply constraints post-1945 due to geopolitical shifts in Middle Eastern oil transit. As the Mandate unraveled in 1948, escalating violence prompted CRL to halt operations on April 12, 1948, with a short resumption in July under provisional arrangements before permanent closure amid the Arab-Israeli conflict; Iraqi oil flows via the pipeline ceased entirely by late April. This pre-state phase laid the infrastructural foundation for Israel's subsequent energy independence efforts, though CRL's British ownership underscored foreign control until nationalization post-independence.

Post-Independence Nationalization and Expansion (1948–1980s)

Following Israel's in May 1948, the refinery, previously operated by Consolidated Refineries Ltd. (CRL) under British ownership, had ceased full operations on April 12, 1948, amid regional hostilities and strikes. It briefly resumed in July 1948 but remained largely idle until mid-1950, when British companies agreed to partial-capacity operations using imported crude oil, primarily from , to circumvent the Arab oil boycott. This arrangement processed about 25% of pre-1948 throughput by 1949, supporting Israel's nascent energy needs despite supply constraints. Pressures from the boycott on firms trading with prompted the British government to divest from CRL, culminating in the sale of the Haifa refinery to the State of in 1958, with formal agreement in 1959. Renamed Oil Refineries Ltd. (ORL) in 1959 and later confirmed in 1972, the facility transitioned to full , rejecting earlier parliamentary motions for outright without compensation, such as a 1950s Communist proposal targeting partial Shell ownership. Under government control, ORL invested in upgrades to modernize obsolete , expanding refining to heavier crudes and meet rising domestic demand. A pivotal expansion occurred in the late 1960s with the completion of the Eilat-Ashkelon pipeline in 1968, enabling direct transport of Iranian crude oil to and boosting throughput to near-full capacity by August 2, 1968. This infrastructure, developed to evade maritime blockades, facilitated further plant enhancements through the 1970s, including secondary units for higher-value products. By the 1980s, ORL had begun integrating operations, leveraging refining byproducts for basic chemical production, though full-scale diversification awaited later decades; these efforts solidified the site's role as Israel's hub amid global oil shocks.

Privatization and Modern Restructuring (1990s–Present)

In the 1990s, Israel's government pursued energy market liberalization to reduce state monopolies, including deregulating fuel imports and establishing price linkages to global benchmarks, which eroded the protected status of state-owned refineries like Oil Refineries Ltd. (ORL) and prompted efficiency-driven reforms. These measures, implemented amid broader fiscal stabilization efforts since 1990, exposed ORL to competitive pressures and set the stage for by diminishing its import barriers, such as exclusive access to Haifa's refining port. By the early 2000s, the government restructured ORL by splitting it into separate and entities to promote rivalry and enhance sale value, repurchasing shares from private holders like between 2002 and 2005 for approximately $120 million to facilitate . In September 2006, the refinery was privatized and sold to Paz Oil for $676 million, marking the first major in the sector. The operations, rebranded as BAZAN Group (formerly ORL), followed in February 2007 with Israel's largest-ever , generating $1.57 billion as the state fully exited ownership; control passed to a consortium including (initially around 33.5%) and other investors, with shares listed on the under the symbol "BAZAN." Post-privatization restructuring focused on and operational . In , BAZAN merged with Carmel Olefins Ltd. to streamline production, followed in 2010 by full acquisition of Haifa Basic Oils Ltd., consolidating refining inputs and reducing external dependencies. These moves enhanced supply chain efficiency amid competitive duopoly with Paz Oil, though they drew scrutiny for potential environmental trade-offs in . Ownership evolved further, with Israel Enterprises Ltd. acquiring a controlling stake from for NIS 550 million in a complex transaction, positioning it as the primary shareholder alongside public holdings of about 51.5%. Ongoing modernization includes facility upgrades for compliance and capacity, such as advanced refining technologies commissioned around , adapting to global shifts toward lower-emission operations.

Corporate Structure and Operations

Core Refining and Petrochemical Facilities

The BAZAN Group's core facilities form an integrated and complex in , , processing crude oil into fuels and chemical feedstocks. The refinery handles multiple crude types through units for , vacuum processing, and catalytic cracking at temperatures up to 900°C and pressures of 180 atmospheres. Refining capacity reaches a maximum of 197,000 barrels per day, equivalent to 9.8 million tons annually, with typical utilization around 90%. This yields outputs including , , , , and , alongside and other intermediates supplied to on-site operations. Petrochemical production leverages refinery byproducts and , with subsidiaries such as GADIV Petrochemical Industries Ltd. generating over 500,000 tons yearly of aromatics like and , aliphatic solvents, and intermediates for plastics, paints, and pharmaceuticals. Olefins Ltd. adds capabilities, producing approximately 450,000 tons of and 170,000 tons of per year. Overall aromatics output approximates 580,000 tons annually, supporting downstream applications in textiles, automotive components, and chemicals. The complex's design enables synergistic feedstock flows, enhancing efficiency and product diversity.

Subsidiaries and Integrated Entities

The BAZAN Group, through its parent company Oil Refineries Ltd., maintains full ownership of key subsidiaries focused on petrochemical production, which are operationally integrated with the core refining complex in to enable efficient feedstock utilization and product synergy. These entities process refinery outputs into higher-value chemicals and polymers, contributing to the group's in the energy and materials sectors. Carmel Olefins Ltd., 100% owned by BAZAN, operates facilities for producing olefin-based polymers, including and , with applications in plastics for , automotive parts, and consumer goods. This subsidiary leverages propylene feedstock derived from the adjacent refinery processes. Gadiv Petrochemical Industries Ltd., also 100% owned, specializes in aromatic such as , paraxylene, orthoxylene, and , which are essential feedstocks for downstream industries like synthetic fibers, solvents, and resins. Its production is tightly coupled with the refinery's cracking units for optimal yield. Carmel Olefins further owns Ducor Petrochemicals B.V., a fully consolidated entity located in , , with an annual polypropylene production capacity of 180,000 metric tons, expanding BAZAN's global footprint in polymer markets. The subsidiaries function as integrated extensions of the refinery, sharing infrastructure for utilities, storage, and logistics, which enhances and reduces costs through captive supply chains. This structure supports BAZAN's position as Israel's primary integrated refining and hub, processing up to 197,000 barrels of crude oil daily to feed downstream operations.

Products and Technological Capabilities

Refined Petroleum Outputs

The BAZAN Group's refinery processes crude oil into a range of refined products, with a maximum capacity of approximately 197,000 barrels per day, equivalent to 9.8 million tons annually, operating at an utilization of around 90%. The refining process involves at high temperatures up to 900°C and pressures up to 180 atmospheres, followed by catalytic cracking and finishing treatments to meet product specifications, yielding a of 9 out of 10 for advanced processing capabilities. Key outputs include (LPG), primarily used for cooking, heating, and vehicle fuel, separated at boiling points around 20°C. , distilled at approximately 50°C, serves as a feedstock for , polymers, paints, and chemicals. (petrol), produced for motor vehicles with boiling points up to 100°C, adheres to low benzene levels of 0.55%, below the 1% regulatory standard achieved through optimized hydrotreating. Kerosene, refined at around 170°C for use as jet fuel in aviation, meets international aviation standards. Diesel fuel, distilled at approximately 270°C for heavy vehicles, cars, and heating, includes a green diesel variant (B7 blend) introduced in 2022 incorporating biodiesel components. Heavier fractions yield fuel oil at 500°C for shipping and industrial heating, and bitumen for road paving, roofing, and marine fuels. These products supply domestic markets in for transport, industry, agriculture, and households, with portions exported to regional Mediterranean countries and beyond. Production volumes vary with crude slate and demand, but the refinery's integration with downstream petrochemical units enhances yield efficiency for lighter fuels like and .

Petrochemical and Polymer Productions

The operations of the BAZAN Group are integrated with its refining activities in , primarily through subsidiaries Carmel Olefins Ltd. (CAOL) and Gadiv Petrochemical Industries Ltd., producing key intermediates and downstream products derived from crude oil fractions. CAOL operates a steam cracker unit with an annual capacity of 240,000 metric tons of and 160,000 metric tons of , serving as feedstocks for manufacturing. These olefins represent core outputs, with and used both internally and externally as building blocks for plastics and chemicals. Gadiv focuses on aromatics production, manufacturing , , mixed , orthoxylene, paraxylene, , and solvents such as Solgad series products, with an annual output exceeding 500,000 metric tons of . The facility processes approximately one million tons of reformate and 100,000 tons of dripolene annually to yield these compounds, which are supplied to industries for resins, solvents, and further . and , for instance, are key raw materials in plastics and production, while xylenes support and applications. Polymer production is handled by CAOL, established in 1989 and acquired by BAZAN in 2009, making it Israel's sole producer of (PP) and (LDPE). The company operates a four-line LDPE cluster with a total capacity of 180,000 tons per year and two-line PP facilities, utilizing advanced technologies for standard and specialty grades under trademarks like Ipethene® for LDPE and Capilene® for PP. PP accounts for about 66% of output, with LDPE comprising the remainder, serving approximately 350 domestic and 200 international customers in the plastics sector for , films, and molded goods. Recent initiatives include plans for renewable feedstock integration to produce bio-based olefins and polyolefins, aiming to expand sustainable capacities.

Financial Performance

BAZAN Group's financial performance has been characterized by high volatility, primarily influenced by global price fluctuations, crack spreads, and geopolitical events affecting energy markets. From 2016 to 2024, adjusted consolidated EBITDA varied significantly, reaching a low of $121 million in amid the COVID-19-induced demand collapse and a high of $776 million in driven by surging prices following Russia's invasion of . The nine-year average adjusted EBITDA during this period was $493 million, underscoring the cyclical nature of the sector. Net income mirrored these swings, with profits of $441 million in 2022 contrasting losses or minimal gains in earlier downturns, such as the post-2014 oil price crash that strained operations in the mid-2010s. followed suit, peaking at $10.8 billion in 2022 before contracting to $8.3 billion in 2023 and $7.5 billion in 2024, attributable to normalizing margins (from $14.9 per barrel in 2023 to $10.2 in 2024), deferred maintenance, and impacts from the Israel-Hamas war. Operating profit declined from $594 million in 2022 to $224 million in 2024, reflecting higher costs and lower throughput. Debt metrics improved over time through , asset sales, and profitability cycles. Net financial fell from $617 million in to $452 million in , with (net to EBITDA) reducing from highs above 7x in 2013 to around 2-3x by the late , aided by financial and operational efficiencies. remained stable, supporting payouts during profitable years despite persistent capital-intensive maintenance needs.
YearAdjusted EBITDA ($M)Refining Margin ($/barrel)Net Income ($M)
20164277.1-
20175528.8-
20185078.0-
20194166.8-
20201213.4-
2021511--
2022776-441
202372714.9408
202439610.2113

Recent Results (2020s)

BAZAN Group's financial performance in the 2020s fluctuated significantly due to global , geopolitical events, and operational factors. In 2020, adjusted EBITDA stood at $121 million, reflecting reduced demand from the that curtailed refining volumes and sales. Recovery followed in 2021 with adjusted EBITDA rising to $511 million amid rebounding energy prices. The period peaked in 2022, driven by elevated refining margins following Russia's invasion of , which disrupted global supplies and boosted crack spreads; adjusted EBITDA reached $776 million, while net profit was $441 million on revenues approximating $10.4 billion. Performance moderated in 2023, with adjusted EBITDA at $727 million and net profit at $408 million, as margins normalized despite ongoing regional tensions from the Israel-Hamas war that increased logistics costs and delayed maintenance. In 2024, results weakened further to adjusted EBITDA of $396 million and net profit of $113 million on revenues of $7.542 billion, impacted by a major periodic shutdown (costing $95 million plus $55 million in lost profits), lower global margins, and disruptions including a temporary suspension of trade with . The board approved a $50 million , representing 75% of the year's profit.
YearRevenue ($M USD)Adjusted EBITDA ($M USD)Net Profit ($M USD)
2020Not specified121Not specified
2021Not specified511Not specified
2022~10,400776441
2023~8,000727408
20247,542396113

Innovations and Strategic Initiatives

Research and Development Focus Areas

The BAZAN Group's efforts, coordinated through its centralized R&D unit and innovation arm Bnnovation (established in 2019), emphasize advancements in and processes, with a strategic pivot toward and low-carbon technologies. Key priorities include optimizing production efficiency via linear planning systems—computerized models for crude oil and product mix allocation—and synergy projects integrating materials across facilities to reduce , which improved from an index of 112 in 2008 to 98 by 2018. A primary focus area is polymers and solutions, particularly at subsidiary Carmel Olefins, where the R&D team of 15 researchers develops customized and variants for industries like automotive and , alongside low-carbon footprint products incorporating domestic waste powders. This includes 11 patents for unique compositions as of 2024, supporting targets of 15% sales by 2025 and 30% by 2030, backed by planned investments of USD 170–240 million through 2030. Initiatives encompass chemical and mechanical , such as the 2022 acquisition of VPM Plast (76% stake, capacity 12,000 tons/year) and Carmel Eco (full acquisition by September 2024, 10,000 tons/year), plus consortia like CIRCLE (concluded 2022) for recycled composites and SMART (concluded 2023) for agro-materials. Hydrogen and alternative fuels represent another core domain, with up to USD 50 million allocated by 2030 for commercial production and infrastructure, positioning BAZAN as a leader in Israel's ecosystem. Projects include collaborations with H2Pro for , development of compression systems (supported by grants), and operational milestones like Israel's first fueling station at Junction (with Sonol, under construction as of 2022), a -powered purchase, and bus orders. The Valley initiative with municipality, Technion, and further integrates into transport and industry. Refining innovations target clean fuels and emissions reduction, leveraging the hydrocracker facility (operational since 2013) to boost and kerosene yields while adapting to standards like IMO 2020 for low-sulfur fuels. Efforts incorporate 4.0 tools for and to lower the , alongside USD 680 million invested from 2007 to 2024 in environmental technologies such as advanced burners and odor treatment. Bnnovation facilitates through the Environmental Sustainability Innovation Lab (ESIL, launched 2020 with and ), investing in 14 ventures by 2024 and partnering with the Innovation Authority on startups in clean energy and sustainable plastics.

Partnerships and New Ventures

In 2019, BAZAN Group established Bnnovation, an internal dedicated to fostering startups and technologies in clean energy, sustainable plastics, and related fields through direct investments, collaborations, and ecosystem development. Through Bnnovation, BAZAN has pursued targeted investments, including a $2 million stake in Feelit Technologies in December 2022 to advance vibration-sensing for efficient and sustainable processes. In August 2023, BAZAN invested in APERIO Systems' Series A-II round to support optical inspection innovations applicable to industrial operations. More recently, in October 2025, BAZAN and Bnnovation committed funds to , a deep-tech firm developing AI-driven solutions to optimize efficiency. A pivotal new venture occurred in August 2025 when BAZAN acquired a 52% stake in U.S.-based Cantium for $100 million, marking the company's entry into upstream oil in the and diversifying beyond refining and petrochemicals. This strategic investment aims to secure supplies and integrate with BAZAN's downstream capabilities, with Cantium operating mature fields producing approximately 20,000 barrels per day. On the partnership front, BAZAN signed a (MOU) with UAE-based Mazrui International in November 2020 to facilitate polymer imports to , enhancing amid regional normalization efforts. In April 2023, BAZAN collaborated with to explore sustainable mobility solutions, focusing on advanced materials and low-carbon technologies aligned with both firms' decarbonization goals. Additionally, BAZAN's 2023 ESG initiatives included joint ventures with industry leaders for gray and delivery, supporting industrial applications while planning transitions to greener variants. These efforts reflect BAZAN's broader strategy to leverage alliances for technological advancement and market expansion.

Environmental and Regulatory Landscape

Pollution Challenges and Health Impacts

The BAZAN Group's Haifa Bay refinery complex emits substantial quantities of air pollutants, including benzene, nitrogen oxides, sulfur dioxide, and particulate matter (PM2.5 and PM10), which have historically exceeded permitted levels and contributed to the area's ranking as Israel's highest emitter of industrial pollutants. A 2021 Ministry of Environmental Protection study estimated the annual health costs of industrial and vehicular pollution in Haifa Bay at approximately NIS 1.3 billion (about $400 million USD at the time), primarily from respiratory and cardiovascular effects. Specific incidents, such as a 2023 benzene leak during tank evacuation and multiple air pollution violations between 2010 and 2022, have prompted regulatory actions, including convictions and fines totaling over NIS 13 million ($3.6 million USD) since 2015 for exceeding emissions permits and improper waste handling. Epidemiological studies have identified associations between 's industrial —predominantly from sources like BAZAN—and elevated health risks, particularly cancer and respiratory conditions, though establishing direct causation remains challenging due to factors such as and socioeconomic variables. A 2010 spatial analysis in Science of the Total Environment correlated higher modeled concentrations (including PM and NO2) with increased cancer incidence rates across 143 neighborhoods, finding statistically significant gradients where pollution hotspots aligned with elevated lung, bladder, and cases. Similarly, a 2015 study in British Journal of Medicine and Medical Research estimated that to metals and from the area contributed to 16% of Haifa's cancer cases (780 out of 4,860 over a decade), with rates 50% above national averages in proximity zones. A 2023 peer-reviewed analysis in examined adolescence in the Area and reported a 7-16% higher young-adulthood cancer incidence (including lymphomas and leukemias) among those in high-pollution sub-districts compared to lower- groups, attributing risks to emissions. Respiratory health impacts are also documented, with exhibiting asthma prevalence rates up to 20% higher than national figures, linked to PM2.5 and volatile organic compounds from refinery flaring and processing. A government inter-ministerial report, drawing on registry data, found 6-17% elevated cancer risk for individuals aged 16-20 exposed during childhood in versus national baselines, alongside increased allergies and asthma hospitalizations; the report reinforced hypotheses of industrial pollution's role but noted ongoing debates over attribution to specific emitters like BAZAN. State Comptroller audits have highlighted systemic underreporting of emissions and delays in mitigation, with 's disease incidence (e.g., certain cancers and chronic respiratory issues) consistently 10-50% above national medians per surveillance from 2010-2023. While BAZAN has contested direct liability, claiming reductions in benzene emissions (e.g., 66% drop from 2018 to baselines), independent monitoring confirms persistent exceedances during malfunctions, such as the August 2021 refinery outage releasing uncontrolled pollutants.

Mitigation Investments and Sustainability Measures

BAZAN Group has invested over USD 545 million from 2009 to 2022 in enhancing and environmental performance, including technologies. These efforts encompass the installation of recirculation systems to lower emissions and expansions in capacity using technology, with NIS 2.5 million allocated in 2023 alone. A flocculation facility at subsidiary Gadiv, completed in 2023, processes waste to minimize emissions and treatment costs. Air pollution mitigation includes significant reductions in key pollutants: emissions dropped 91% from 2016 to 2023, reaching levels below 0.35 tons annually by 2023, while non-methane volatile organic compounds decreased 68% over the same period. emissions fell 37% and oxides 33% between 2016 and 2022. These measures positioned BAZAN in the top 10th of refineries for lowest environmental impact, as benchmarked against standards, ahead of the 2024 target. Water management initiatives feature an industrial effluent reclamation facility operational since 2017, reclaiming 60% of effluents and saving 2.5 million cubic meters of annually. Overall declined 12% from 2016 to 2023, with total suspended in discharges reduced to 19,701 kg in 2023 from 23,609 kg the prior year. generation decreased 52% over 2016-2023, supporting goals like zero landfilling of isododecane waste by 2023. Sustainability measures extend to greenhouse gas reductions, with Scope 1 and 2 emissions targeted for a 19% cut by 2030 relative to 2015 levels in operations. A 10-year agreement for 50 MW of green electricity, commencing in 2025, is projected to avoid 140,000 tons of CO2 emissions by 2026. BAZAN launched Israel's first fueling station in 2023 and initiated green diesel production from used in 2024, alongside USD 50 million planned investments in solutions by 2030. sustainability targets include 30% green, recycled, or biobased products by 2030, bolstered by acquisitions like VPM for 12,000 tons annual capacity.

Controversies

Environmental Litigation and Fines

In 2015, the Israeli Ministry of indicted three BAZAN facilities, including the crude , for environmental violations such as accumulating approximately 28,000 tons of sludge and failing to properly manage emissions. Subsequent convictions and fines followed, with BAZAN facing four separate cases by 2022 for and permit breaches, resulting in court-imposed penalties totaling 7.3 million alongside 3.6 million in administrative sanctions from the ministry. By September 2022, BAZAN and its subsidiaries had been indicted five times in seven years for offenses, with the latest charges alleging 15 incidents across 10 facilities from 2017 to 2021, including exceedances of permitted emission levels for substances like nitrogen oxides and volatile organic compounds. The October 2022 indictment extended to senior executives for oversight failures in these events, which BAZAN contested as lacking intent. In October 2021, the imposed a NIS 895,420 fine on BAZAN for violating hazardous substance permit conditions at its Haifa port operations, involving improper handling that risked and . Gadiv Industries Ltd., a BAZAN affiliate, received a NIS 634,300 penalty in 2020 for similar emissions exceedances in . The Haifa Magistrate's Court convicted BAZAN, Carmel Olefins Ltd., and Gadiv in May 2024 for severe and emissions permit violations, fining BAZAN 2 million, Carmel Olefins 1,018,500, and Gadiv 732,500, with BAZAN additionally committing to 1 million in remediation funding. These cases primarily involve regulatory under Israel's Clean Air Law, focusing on operational lapses in monitoring and control systems rather than deliberate misconduct, though repeated violations have prompted stricter oversight.
DateEntityViolation TypeFine Amount (NIS)Source
July 2015BAZAN facilitiesHazardous waste accumulation, emissions failuresNot specified in indictment (subsequent fines applied)
2020Gadiv PetrochemicalEmissions exceedances634,300
October 2021BAZAN ( port)Hazardous substance permit breaches895,420
May 2024BAZAN, Olefins, GadivAir pollution, emissions violations2,000,000 (BAZAN); 1,018,500 (); 732,500 (Gadiv)

Geopolitical Risks and Security Incidents

The location of BAZAN Group's primary refining complex places it in a high-risk zone for geopolitical threats stemming from Israel's conflicts with in and Iran-backed proxies, given its proximity to the northern border and status as a strategic asset. has repeatedly targeted with rocket and missile barrages, viewing industrial sites like the refinery as legitimate military objectives due to their economic and logistical importance to . These risks have led to operational disruptions, heightened security measures, and elevated war risk insurance premiums for amid escalating regional tensions. During the 2006 Second Lebanon War, Hezbollah fired rockets into that landed near the oil refinery and adjacent gas storage tanks, killing eight civilians at a nearby train station and underscoring the vulnerability of the site to indirect hits from unguided munitions. No direct structural damage to the refinery was reported, but the attacks highlighted the potential for cascading effects, such as fires or explosions in hydrocarbon facilities. In October 2024, amid heightened cross-border exchanges, Hezbollah launched multiple rocket salvos at , with informed sources indicating strikes on or near the BAZAN refinery complex as part of broader assaults on the port city. These incidents caused no confirmed refinery damage but prompted temporary alerts and evacuations, reflecting ongoing exposure to short-range threats despite Israeli air defenses. Cybersecurity incidents have compounded physical risks, with pro-Iranian actors claiming responsibility for a distributed denial-of-service (DDoS) attack that rendered BAZAN's inaccessible for days in , attributed to groups like Cyber Avengers and Anonymous Sudan in retaliation for Israeli actions. The attack did not disrupt core operations but exposed digital vulnerabilities in amid Iran's shadow war with . The most severe recent incident occurred on June 15, 2025, when Iranian ballistic missiles struck the BAZAN complex during a direct barrage, damaging pipelines, transmission lines, and a essential for steam and , resulting in the full shutdown of facilities and the deaths of three employees. The 197,000 barrels per day facility sustained significant but repairable harm, with partial reopening by late June after assessments confirmed no total operational collapse, though the event tested Israel's energy resilience and fueled debates over relocating high-risk assets southward. This , part of Iran's following prior conflicts, amplified geopolitical premiums on chemical and refining sectors, with insurers monitoring for further Iranian reprisals.

Economic and Strategic Significance

Contributions to Israeli Energy Independence

The BAZAN Group's refinery serves as Israel's primary domestic oil processing , enabling the country to refine imported crude into usable fuels and thereby bolstering self-sufficiency in liquid hydrocarbons, which complement domestic production. With a of approximately 197,000 barrels per day—equivalent to about 9.8 million tons of crude annually—the distributes roughly 70 percent of its output to the market, including , , and essential for , industry, and . This infrastructure mitigates vulnerabilities associated with importing fully refined products, providing a strategic against international interruptions. In 2024, BAZAN accounted for 65 percent of Israel's transportation , 59 percent of , and 52 percent of supplies, highlighting its dominance in fulfilling critical domestic requirements. The company's high-complexity operations, rated 9 on the , allow for efficient production of high-value products from diverse crude sources, supporting economic resilience. BAZAN has demonstrated its strategic importance during conflicts, maintaining uninterrupted fuel supplies to the , Ministry of Defense, and broader economy following the , 2023, escalation. By postponing non-essential maintenance and prioritizing defense needs, it ensured continuity for and civilian , as detailed in its 2023 ESG report, which affirms BAZAN's role in upholding Israel's . Even amid 2024 disruptions, including an Iranian missile impact on ancillary , the group sustained the and , preventing shortages. These efforts underscore BAZAN's function as critical , reducing external dependencies in volatile geopolitical conditions.

Employment and Broader Economic Role

The BAZAN Group directly employs approximately 1,400 permanent workers in , primarily at its facilities, with an additional 1,000 contract workers engaged annually to support operations such as maintenance and specialized projects. These roles span , production, , and administrative functions, with the company offering competitive wages, benefits, and programs under and personal contracts. As of 2024, total headcount stood at around 1,394 employees. Indirectly, BAZAN's operations sustain an estimated 16,300 nationwide through supply chains, , and downstream industries, according to a 2022 assessment; an earlier 2018 BDO study pegged the figure at 14,400. This multiplier effect arises from the group's procurement of , as well as its role in fueling and sectors that rely on its refined products and outputs. Economically, BAZAN contributes roughly 0.43% to Israel's GDP, equivalent to about 8 billion in overall impact as of 2022, including direct output and induced activities. It accounts for approximately 2% of national industrial production and holds a dominant 62% share of Israel's capacity, enabling self-sufficiency in fuels and supporting export revenues from like polymers and aromatics. These activities position BAZAN as a foundational element of Israel's and chemical sectors, with revenues exceeding $4 billion annually in recent years, bolstering trade balances despite volatility in global markets.

References

  1. [1]
    about bazan group
    The Bazan Group comprises three industrial companies operating in Israel primarily in the production of petroleum products, polymers used as raw materials in ...
  2. [2]
    About Bazan
    The Bazan Group, Oil Refineries Ltd., is located in the Haifa Bay area and is one of the most complex and largest energy groups in Israel.
  3. [3]
    Environment Ministry files criminal charges against Bazan Group for ...
    Jul 10, 2022 · The Environmental Protection Ministry on Sunday filed a criminal indictment against Carmel Olefins, a subsidiary of Israel's Bazan oil conglomerate.Missing: controversies | Show results with:controversies
  4. [4]
    Can Israel quit dependence on Oil Refineries? - Globes English - גלובס
    Jun 25, 2020 · One of the two famous cooling towers on the Bazan Group Oil Refineries (TASE: ORL) site had collapsed. All that was left to view was a pile ...
  5. [5]
    Haifa oil refinery partly reopens after shutdown caused by deadly ...
    Jun 29, 2025 · The company, Bazan, tells regulator it will likely resume full operations in October; missile impact killed three employees.
  6. [6]
    Israel's Haifa-based Bazan group says all refinery facilities ... - Reuters
    Jun 16, 2025 · Israel's Haifa-based Bazan Group said all refinery facilities have been shut down after a power station used to produce steam and electricity were ...
  7. [7]
    Israel's Energy Past... and Future - ISRAEL21c
    Sep 6, 2014 · Oil Refineries origins, according to Wikipedia, “date to the British Mandate for Palestine when Consolidated Refineries Limited (CRL), a joint ...Missing: founding | Show results with:founding
  8. [8]
    Israel's Chemicals Industry: From the Desert to the Dead Sea | AIChE
    one in Haifa and one in Ashdod. Oil Refineries Ltd. (ORL), also known as Bazan Group, operates Israel's largest oil ...
  9. [9]
    Ofer-Federman Group Wins Control of Haifa Oil Refineries - Haaretz
    Feb 20, 2007 · Construction on the refineries began in 1938, undertaken by the American company M. W. Kellogg. The first refinery unit began operation in ...
  10. [10]
    The Iraq-Haifa oil pipeline • "Establishment of the largest ... - חי פה
    It was only at the end of April 1948, about three weeks before the declaration of statehood, that the pipeline was closed and Iraqi oil stopped reaching Haifa.
  11. [11]
    The Haifa Refinery - UNCCP working paper - Question of Palestine
    Mar 12, 2019 · It was until 1948 fed half by the Iraq Petroleum Company's pipeline from Kirkuk and half by tanker carrying crude oil either from the Tripoli ...
  12. [12]
    The Petroleum Sector, 1943–48 - UC Press E-Books Collection
    By the middle of 1943 the Haifa refinery employed about a thousand workers, making it one of Haifa's (and Palestine's) largest workplaces. The PAWS had a strong ...Missing: pre- | Show results with:pre-
  13. [13]
    Historical Documents - Office of the Historian
    The refinery at Haifa owned by Consolidated Refineries, Ltd. (CRL) ceased operations on April 12, 1948. Except for a brief period in July when it was operated ...Missing: BAZAN founding
  14. [14]
    Oil and the Arab-Israeli Conflict, 1948-63 – EH.net
    In mid-1950 Israel seemed to have finally circumvented the Arab oil blockade. The British companies agreed to operate the Haifa refinery at partial capacity,.
  15. [15]
    Role of the Haifa Refinery in the Iranian Crisis | CIA, 1951
    Feb 9, 2018 · Since 1949, the Haifa refinery has been in partial operation and is now producing about 25 percent of capacity. Crude oil obtained from ...
  16. [16]
    H-Net Reviews
    This process culminated in the 1959 agreement to sell the Haifa refinery to the Israeli government. While this process must be viewed as an Arab League success, ...
  17. [17]
    Knesset Defeats Motion on Nationalization of Haifa Refineries
    The Israel Parliament overwhelmingly rejected today a Communist demand that the Haifa oil refineries, owned in part by Shell Oil Company, be nationalized ...
  18. [18]
    Oil & Natural Gas in Israel - Jewish Virtual Library
    Oil began to flow to Haifa on August 2, 1968. Thirty years later, following the fall of the Shah of Iran, Israel took over the company and, subsequently, ...<|separator|>
  19. [19]
    Oil Refineries and the Path to Privatization - Haaretz Com
    Nov 26, 2004 · In the past, there was an obstacle to imports; the sole refining port [in Haifa] that served Bazan. At the end of the 1990s, the government set ...
  20. [20]
    [DOC] g157_e.doc - World Trade Organization
    ​ Since 1990, Israel's fiscal and monetary policies have been formulated and coordinated with the goals of reducing Israel's high tax burden, narrowing the ...
  21. [21]
    [PDF] Privatization of Israel's Refineries - Shir Hever
    Like many other countries in the world, Israel has embarked on a rapid and wide-scale privati- zation process for over a decade. This.Missing: restructuring | Show results with:restructuring
  22. [22]
    State Bids Adieu to Bazan - Haaretz Com
    Feb 19, 2007 · The largest public offering ever in Israel's capital markets is set to be launched today, as the government completes privatization of ...
  23. [23]
    [PDF] Bazan- annual report for 2022
    Aug 18, 2022 · 1959 under the name Haifa Refineries Ltd., which has absorbed the operations of the Haifa refinery that began operating in 1938 under the ...
  24. [24]
    Israel Petrochemical Enterprises acquired the controlling interest in ...
    The controlling interest was acquired from previously joint holder of Bazan Group, Israel Corporation (TASE: ILCO), resulting in Israel Chemical Enterprises ...
  25. [25]
    fuelsoperation - Bazan group
    The maximum daily refining capacity of the Bazan Group's facilities is approximately 197,000 barrels of crude oil (approximately 9.8 million tons per year). ...
  26. [26]
    GADIV Petrochemical Industries Ltd
    Gadiv Petrochemical Industries Ltd. is one of Israel's leading petrochemical companies. Using the most advanced available technology and best materials.Our Products · Contact Us · Products · Quality certificates
  27. [27]
    Company Profile - GADIV Petrochemical Industries Ltd
    With the largest oil-refining complex in Israel, Bazan group operates as an integrated refinery and petrochemical complex offering a broad range of high added ...
  28. [28]
    Company Profile - Carmel Olefins
    Ducor Petrochemicals, which is located in Rotterdam Netherlands, is part of the Bazan Group with an annual production of 180kT Polypropylene. These are used in ...Missing: subsidiaries entities
  29. [29]
    [PDF] ESG Report Bazan Group 2023
    Dec 11, 2024 · Bazan (Oil Refineries Ltd.), one of the largest and most complex energy groups in Israel, owns and operates the leading refining and ...
  30. [30]
    [PDF] Periodic Report 2024
    Dec 31, 2024 · Breakdown of Bazan Group's net consolidated debt to financial institutions and Bazan Group's ... financing, mergers and acquisitions ...
  31. [31]
    [PDF] Polyolefins Business Unit
    Carmel Olefins Ltd. operates its own steam cracker that supplies. 240 kT ethylene, and. 160 kT propylene;. The metathesis ...
  32. [32]
    Israel-Iran conflict rattles chemical markets | S&P Global
    Jul 2, 2025 · Iran's chemical production halted due to Israeli attacks. Bazan's Haifa refinery, petrochemical complex shut down.
  33. [33]
    Our Products - GADIV Petrochemical Industries Ltd
    They include a diverse range of products such as clothing, pharmaceuticals, cosmetics, computers, paints, vehicle components, household fabrics and many more.Missing: facilities capacities
  34. [34]
    Gadiv Petrochemical Industries - Wikipedia
    The company manufactures and markets over 500 thousand tons of petrochemical products each year including aromatics, aliphatic solvents and intermediates.
  35. [35]
    Aromatics - Bazan group
    The principal aromatics manufactured by Gadiv are benzene, toluene, xylene, paraxylene, orthoxylene phthalic anhydride and solvents. These are aromatics ...
  36. [36]
    polyolefinsoperation - Bazan group
    It manufactures and markets polymers, primarily polypropylene and low-density polyethylene, which are used as raw materials for the plastics industry.
  37. [37]
    Israeli integrated refiner to produce renewable olefins, polyolefins
    Mar 5, 2024 · At the ORL refinery—which has a combined distillation and vacuum crude processing capacity of about 197,000 b/d—Bazan told investors it is also ...Missing: specifications | Show results with:specifications
  38. [38]
    [PDF] Summary of the year 2024
    Mar 12, 2025 · Company's financial statements and Board of Directors' report ... (2) Financial net debt divided by adjusted EBITDA in the last 4 quarters.
  39. [39]
    [PDF] The Israeli Refining & Petrochemicals Market Bazan Group - iene eu
    The Group converted fully to the use of. NG as fuel for its units. Ashdod refinery was sold to Paz Oil as part of government privatization policy.Missing: expansion | Show results with:expansion
  40. [40]
    Bazan Group reports 2024 performance | The Jerusalem Post
    Mar 12, 2025 · Bazan posts a net profit of $113M for 2024. The board approves a $50M dividend, reflecting 75% of annual profit.Missing: trends 2000-2024
  41. [41]
    bnnovation
    Bnnovation is Bazan Group's unique innovation platform with one mission promoting technology ecosystems in the fields of clean energy, sustainable plastics.
  42. [42]
    [PDF] Bazan Group ESG Report 2019-2021
    Nov 8, 2022 · The Bazan Group will serve as an essential bridge to the future of Israel's transportation energy sector, leading a transformation focused on ...
  43. [43]
    [PDF] Our commitment for the future
    Bazan Group has set itself a goal to become a leader in the world of energy innovation. We are currently exploring various ventures and our relationships as an ...
  44. [44]
    Bazan Group to Invest $2 million in Feelit Technologies
    Dec 28, 2022 · Bazan Group, Israel's largest petrochemical concern, will invest $2 million in Israeli company Feelit Technologies through its innovation unit.
  45. [45]
    Bazan Group - Investments - CB Insights
    Bazan Group has made 3 investments. Their latest investment was in APERIO Systems as part of their Series A - II on August 15, 2023. CBI Logo. Bazan Group ...Missing: projects alliances
  46. [46]
    Bazan and Bnnovation invest in Gain, a deep-tech company ...
    Oct 16, 2025 · The team is revolutionizing financial operations through AI-powered automation, helping companies streamline their accounting and financial ...
  47. [47]
    Bazan enters oil production market with $100m. investment in US firm
    Aug 4, 2025 · Israeli energy company Bazan has made a significant strategic move by investing $100 million in US-based Cantium to begin oil production.Missing: joint | Show results with:joint
  48. [48]
    BAZAN Group - Wikipedia
    BAZAN Group formerly Oil Refineries Ltd. (ORL), is an oil refining and petrochemicals company located in Haifa Bay, Israel. It operates the largest oil ...
  49. [49]
    Shared vision for advancing sustainability between Continental and ...
    Apr 22, 2023 · Continental AG, a mobility giant, and BAZAN Group Oil Refineries Ltd. are teaming up to push the boundaries of sustainability and pave the ...Missing: joint | Show results with:joint
  50. [50]
    Bazan Group Presents its ESG Report for 2023 | The Jerusalem Post
    Dec 29, 2024 · Bazan Group has published its ESG Report for 2023, whose primary focus is on the company's efforts to contend with the challenges posed by the Swords of Iron ...Missing: research | Show results with:research
  51. [51]
    Air Pollution Severely Harms Public Health, But How Much Does it ...
    Jan 12, 2021 · A new study commissioned by the Ministry of Environmental Protection finds the cost of industrial and vehicular pollution in Haifa Bay reached ...Missing: impacts | Show results with:impacts
  52. [52]
    Israel's biggest polluters: See who made the 'red list'
    Aug 14, 2023 · Bazan's score was lowered to 502 due to significant air pollution and a hazardous occurrence involving a benzene leak during a tank evacuation ...
  53. [53]
    Israeli Oil Refinery and Its Senior Executives Indicted on Air ...
    Oct 6, 2022 · Bazan has been convicted of environmental violations in four separate cases since 2015. The ministry and the courts have imposed 3.6 million ...Missing: health | Show results with:health
  54. [54]
    Bazan oil refinery group and subsidiaries fined almost $1 million for ...
    May 20, 2024 · Bazan was found guilty of air pollution and violations of an emissions permit and was fined NIS 2 million ($540,000). It underwrote a NIS 1,356 ...Missing: health studies
  55. [55]
    [PDF] Spatial analysis of air pollution and cancer incidence rates in Haifa ...
    Spatial analysis of air pollution and cancer incidence rates in Haifa Bay, Israel ... The Haifa Bay study area with topographic contours every 50 m, main roads ...
  56. [56]
    [PDF] Chronic Metal Exposure, Air pollution and Cancer in Haifa, Israel
    ... air pollution and cancer in the Haifa Bay. 17 region. In the last ten years, sixteen percent of the cancer cases in Haifa, 780 out of 4,860, have been. 18.
  57. [57]
    Associations of Adolescence Exposure to Industrial Air Pollution with ...
    Jun 8, 2023 · ABSTRACT: There is substantial public concern about the health risks of proximity to petrochemical industries. In the Haifa Bay Area (HBA), ...
  58. [58]
    Childhood exposure to Haifa pollution linked to increased cancer risk
    Aug 2, 2022 · The study also found a higher incidence of asthma and allergies among Haifa Bay ... Bazan gained full ownership of Haifa Basic Oils, which ...
  59. [59]
    Gov't Report Ties Air Pollution in Haifa Bay to High Cancer Risk
    Aug 3, 2022 · Gov't Report Ties Air Pollution in Haifa Bay to High Cancer Risk ... The Bazan Group said: “Every attempt to tie government pollution in ...Missing: rates | Show results with:rates
  60. [60]
    [PDF] Aspects of Government Actions on Environmental Pollution in Haifa ...
    This reinforced the hypothesis that environmental exposure to industrial air pollution in Haifa Bay increased cancer risk. In June 2023, the Ministry of ...
  61. [61]
    [PDF] Bazan Group ESG Report 2022
    This report will guide you along the path we took through environmental, social, and -governance issues. Ducor, the Group's polymer manufacturing subsidiary in ...Missing: controversies | Show results with:controversies<|control11|><|separator|>
  62. [62]
    Malfunction in Haifa Refinery Causes Environmental Pollution ...
    Sep 2, 2021 · The Oil Refineries Haifa Group (Bazan) reported a malfunction in one of its refineries on August 27. The malfunction has sparked protests from the local ...
  63. [63]
    Environment Ministry indicts three Israel Oil Refineries factories
    Jul 9, 2015 · ... Oil Refineries Ltd., also known as the Bazan Group, citing numerous air pollution and toxic waste treatment violations between 2010 and 2013.Missing: rates | Show results with:rates<|separator|>
  64. [64]
    Israeli Oil Refinery and Its Senior Executives Indicted on Air ...
    Oct 2, 2022 · The ministry and the courts have imposed 3.6 million shekels ($1 million) in financial sanctions and fines on Bazan and some 7.3 million shekels ...Missing: litigation | Show results with:litigation
  65. [65]
    Bazan Group indicted for pollution for 5th time in seven years
    Sep 29, 2022 · Israel's biggest oil refinery and subsidiaries, fined nearly NIS 7.3 million for offenses over last 5 years, is now accused of 15 air pollution events at 10 ...Missing: litigation | Show results with:litigation
  66. [66]
    Ministry of Environmental Protection imposes financial sanctions ...
    Oct 10, 2021 · The fine of 895,420 shekels against the Bazan Corp.at the Haifa port is a result of the pollution violations there. It was issued by the ...
  67. [67]
    Gadiv Petrochemical fined NIS 634k for Haifa Bay pollution
    Nov 24, 2020 · The Environmental Protection Ministry imposed a NIS 634,300 fine upon Haifa Bay-based Gadiv Petrochemical on Tuesday for violating the ...
  68. [68]
    The Haifa Magistrate's Court has convicted Oil Refineries Ltd. for air ...
    May 19, 2024 · The Haifa Magistrate's Court has convicted Oil Refineries Ltd. for air pollution incidents and violations of its emissions permit, and Gadiv ...Missing: studies | Show results with:studies
  69. [69]
    Hezbollah Fires Rockets into Haifa, Killing Eight - NPR
    Jul 16, 2006 · Rockets from the Labanese guerillas hit a train station where at least eight people died, and landed near an oil refinery and gas storage tanks.
  70. [70]
    War insurance costs to Israel soar after Iranian attacks, sources say
    Jun 17, 2025 · War risk insurance premiums for shipments to Israel are as much as three times higher than a week ago as the war between Israel and Iran entered its fifth day.
  71. [71]
    Haifa oil refinery comes under attack: Informed source
    Oct 4, 2024 · Informed sources reported that the Haifa oil refinery was targeted in the new round of rocket attacks by Hezbollah, which began this morning.
  72. [72]
    Updates: Hezbollah rockets hit Haifa after Israel pounds Beirut
    Oct 6, 2024 · Rockets from southern Lebanon strike Israeli port city of Haifa. Israel's army unleashes a new wave of attacks on the southern suburbs of ...
  73. [73]
    Israel's largest oil refinery website offline after DDoS attack
    Jul 30, 2023 · Website of Israel's largest oil refinery operator, BAZAN Group is inaccessible from most parts of the world as threat actors claim to have hacked the Group's ...
  74. [74]
    Website of Israeli Oil Refinery Taken Offline by Pro-Iranian Attackers
    Jul 31, 2023 · The website of Israel's largest oil refinery was reportedly inaccessible after an Iranian hacktivist group called Cyber Avengers claimed an attack on it.
  75. [75]
    Bazan oil refinery in Haifa damaged by Iranian missile strike
    Jun 16, 2025 · A missile barrage from Iran hit Bazan oil refinery pipelines and transmission lines in the Haifa Bay over the weekend, forcing a partial temporary shutdown.Missing: security incidents
  76. [76]
    Israel's Haifa refinery hit in Iran missile attack | Latest Market News
    Jun 15, 2025 · Israel's 197,000 b/d Haifa refinery has suffered damage from an Iranian missile attack but remains operational, operator Bazan said on ...Missing: Solel Boneh
  77. [77]
    INSIGHT: Iran conflict adds to growing risk premium paid by chems
    Jun 23, 2025 · Israel's BAZAN Group had shut down all operations at its refinery and its subsidiaries at its complex in Haifa Bay after a missile attack ...
  78. [78]
    Haifa refinery operating, despite piping hit in Iran attack - JNS.org
    Jun 15, 2025 · Israel's largest oil refinery—the Bazan Group complex in Haifa—sustained damage from Iranian attacks to conduit piping, requiring it to shut ...
  79. [79]
    BAZAN Group Oil Refineries Ltd - LinkedIn
    Bazan Group is the largest refinery and petrochemicals company in Israel, and the Haifa Refinery compound consists of three plants and included Carmel ...
  80. [80]
    Career - Bazan group
    Bazan Group offers excellent employment conditions, welfare, and comfortable hours, with opportunities in head office, production, and R&D, and promotes ...
  81. [81]
    Oil Refineries (Israel) 2025 Company Profile - PitchBook
    Oil Refineries (Israel) was founded in 1938. Where is Oil Refineries (Israel) headquartered? Oil Refineries (Israel) is headquartered in Haifa, Israel. What ...
  82. [82]
    Bazan group - commited to tommorow
    Oil Refineries Ltd. (Bazan), located in the Haifa Bay area, is one of the largest and most complex energy groups in Israel and it operates a refinery and ...Investor relationsAbout BazanAbout UsCareerFuels