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{{Other uses|Paz (disambiguation)}} |
{{Other uses|Paz (disambiguation)}} |
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{{Infobox company |
{{Infobox company |
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| name = Paz Oil Company Ltd.<br/>{{Script/Hebrew|פז חברת הנפט בע"מ}} |
| name = Paz Oil Company Ltd.<br/>{{Script/Hebrew|פז חברת הנפט בע"מ}} |
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==Operations== |
==Operations== |
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===Retail and Wholesale=== |
===Retail and Wholesale=== |
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* 260 filling stations across Israel |
* 260 filling stations across Israel |
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===Industries and Services=== |
===Industries and Services=== |
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* Paz Aviation |
* Paz Aviation |
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* Paz Solar |
* Paz Solar |
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* Paz Lubricants & Chemicals Ltd. |
* Paz Lubricants & Chemicals Ltd. |
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* Pazkar Ltd. - manufacturer of bituminous products, waterproofing membranes, coatings and adhesives |
* Pazkar Ltd. - manufacturer of bituminous products, waterproofing membranes, coatings and adhesives |
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==Criticism== |
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===Involvement in Israeli settlements=== |
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{{See also|List of companies operating in West Bank settlements}} |
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On 12 February 2020, the [[United Nations]] published a [[List of companies operating in West Bank settlements|database]] of 112 companies helping to further [[Israeli settlement]] activity in the [[West Bank]], including [[East Jerusalem]], as well as in the occupied [[Golan Heights]].<ref name=unlist_ohchr>{{cite news|date=12 February 2020|title=UN rights office issues report on business activities related to settlements in the Occupied Palestinian Territory|url=https://www.ohchr.org/EN/NewsEvents/Pages/DisplayNews.aspx?NewsID=25542|work=[[Office of the United Nations High Commissioner for Human Rights]]|access-date=5 July 2021}}</ref> These settlements are considered [[International_law_and_Israeli_settlements|illegal under international law]].<ref name=unsc2334>{{cite news|date=23 December 2016|title=UN Security Council Resolution 2334, 2016 (S/RES/2334(2016))|url=https://undocs.org/S/RES/2334(2016)|work=[[United Nations Security Council]]|access-date=5 July 2021}}</ref> Paz Oil was listed on the database on account of its "provision of services and utilities supporting the maintenance and existence of settlements" and "the use of natural resources, in particular water and land, for business |
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purposes" in these occupied territories.<ref>{{cite web|url=https://reliefweb.int/report/occupied-palestinian-territory/database-all-business-enterprises-involved-certain-activities|title=Database of all business enterprises involved in certain activities relating to Israeli settlements in East Jerusalem and the West Bank (A/HRC/43/71)|date=12 Feb 2020|publisher=UN OCHA|access-date=2021-09-12}}</ref> |
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On 5 July 2021, [[Norway]]'s largest pension fund [[Kommunal Landspensjonskasse|KLP]] said it would divest from Paz Oil together with 15 other business entities implicated in the UN report for their links to Israeli settlements in the occupied West Bank.<ref>{{cite web|url=https://www.reuters.com/world/middle-east/nordic-fund-klp-excludes-16-companies-over-links-israeli-settlements-west-bank-2021-07-05/|title=Nordic fund KLP excludes 16 companies over links to Israeli settlements in West Bank|first1=Gwladys|last1=Fouche|first2=Simon|last2=Jessop|date=5 July 2021|publisher=Reuters|access-date=2021-09-13}}</ref> |
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==See also== |
==See also== |
Revision as of 18:42, 8 November 2021
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Company type | Public |
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TASE: PZOL | |
Industry | Energy, Retail |
Founded | 1922 |
Headquarters | , |
Key people | Zadik Bino, Owner Yona Fogel, CEO |
Products | Petroleum, Petrochemical |
Revenue | ![]() |
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Number of employees | 2000~ (2009) |
Divisions | Refining and Logistics Retail and Wholesale Industries and Services |
Subsidiaries | Yellow Convenience Stores Paz Ashdod Refinery Ltd. Pazgas Ltd. Paz Solar Paz Aviation |
Website | www.paz.co.il |
Paz Oil Company Ltd. (Hebrew: פז חברת הנפט בע"מ) (TASE: PZOL) is the largest Israeli fuels company. Paz distributes gasoline and other petroleum products through a network of gas stations, as well as LPG and natural gas for home use (cooking and heating) through its subsidiary PazGaz. The company holds 30% of the Israeli fuel market and 31% of the Israeli gas stations.[1]
History
Paz was founded in 1922, as Anglo-Asiatic Petroleum. From 1927 it operated as part of Royal Dutch Shell, under the name Shell Palestine. In 1958 Shell withdrew from Israel under economic pressure from Arab countries. The symbol of the company, a yellow triangle, still resembles that of Shell.
The company changed to the ownership of the Briton Isaac Wolfson and the French Nahmias brothers and changed its name to Paz Petroleum Company Ltd. Wolfson sold his company holdings in 1981 to the State of Israel, who sold it in 1988 to the Australian Jack Liberman. Since 1999 Israeli Zadik Bino owns the majority of the shares, with the Liberman family and other groups holding minority interests.
Also in 1999, Paz acquired 74 percent of the Israeli fast food chain Burger Ranch. In late 2001, Paz completed the acquisition, becoming 100 percent owners of the chain. New branches of Burger Ranch were opened at Paz gas stations. In 2006, Paz sold the chain to the Israeli businessman Yossi Hoshinski. Paz operates combined cafes and stores in many gas stations, through another subsidiary by the name "Yellow".
In August 2006 Paz won a tender to acquire the Ashdod Oil Refineries with a NIS 3.5 billion bid, from Oil Refineries Ltd; which was forced to break its monopoly on oil refining in Israel. The acquisition made Paz Israel's most powerful energy company, and its owner Zadik Bino the industry's most powerful figure.[2]
Operations
Retail and Wholesale
- 260 filling stations across Israel
- 255 "Yellow" convenience stores
- Pazgas - Israel’s largest gas company, supplying LPG to over half a million customers
Refining and Logistics
Industries and Services
- Paz Aviation
- Paz Solar
- Paz Lubricants & Chemicals Ltd.
- Pazkar Ltd. - manufacturer of bituminous products, waterproofing membranes, coatings and adhesives
See also
References
- ^ "Paz Oil Company - Company Profile", BusinessWeek, archived from the original on 2012-10-01, retrieved 2010-05-28
- ^ Kedmi, Sharon (1 Aug 2006), "Paz wins Ashdod refinery tender", Haaretz, retrieved 2010-05-28