Bazan Group ltd

What Bazan Group ltd does

Bazan Group Ltd (legal name: Oil Refineries Ltd., TASE: ORL) is Israel's largest and most complex energy conglomerate, operating an integrated oil refining and petrochemical complex in the Haifa Bay area. The company was founded in 1958 and privatized in 2007, with Israel Petrochemical Enterprises Ltd. (IPE) holding 24% of shares and approximately 76% held publicly. The Group comprises three operating companies: Oil Refineries Ltd. (ORL) for fuels, wholly-owned Carmel Olefins Ltd. (CAOL) for polyolefins with a Netherlands facility (Ducor Petrochemicals B.V.), and wholly-owned Gadiv Petrochemical Industries Ltd. for aromatics.

The core asset is a 197,000 barrels-per-day refinery (approximately 9.8 million tons of crude oil per year) with a Nelson Complexity Index score of 9 out of 10, supported by polymer capacity of approximately 450,000 tons/year of polypropylene and approximately 170,000 tons/year of polyethylene (Israel), approximately 180,000 tons/year of polypropylene (Netherlands), and aromatics capacity of approximately 580,000 tons/year. Approximately 85% of operations are in fuels, with the balance in polymers and aromatics. The Group is deploying AI-driven optimization tools, smart manufacturing protocols, and IoT sensors across its physical assets, operates Israel's first hydrogen fueling station for trucks and the country's first hydrogen lab, and pursues a four-pillar sustainability strategy (hydrogen, polymers, fuels and infrastructure, ESG).

Revenue is generated through direct B2B sales under long-term contracts to approximately 350 domestic polymer customers, approximately 200 European polymer customers, Israeli fuel and gas marketing companies, and overseas industrial buyers for aromatics (Mediterranean Basin, USA, Europe). Approximately 70% of products are sold domestically and approximately 30% exported, primarily to the eastern Mediterranean. The Group employs approximately 1,500 people and contributed approximately 0.45% of Israel's GDP (~NIS 8 billion) in 2023. The business is currently navigating margin compression, conflict-related facility damage in 2026, and a CEO transition, while pursuing energy transition initiatives in green hydrogen and circular economy polymers.

Name

Bazan Group ltd

Legal name

Oil Refineries Ltd.

Website

https://bazan.co.il

Company type

Public

Founded year

1940

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Bazan Group Ltd is Israel's largest integrated oil refining and petrochemical conglomerate, operating a 197,000 barrels-per-day refinery and polymer and aromatics subsidiaries from Haifa Bay, supplying fuels, polyolefins, and aromatics to Israeli and eastern Mediterranean B2B customers under long-term contracts.

Ownership category

akta.pro rank

Product category

Oil Refining and Petrochemicals

NAICS

Petroleum Refineries (32411), Petrochemical Manufacturing (325110)

SIC

Petroleum Refining (2911), Industrial Organic Chemicals (2860)

akta.pro primary industry

Base Olefins (Ethylene, Propylene, Butadiene) (IMAEADAA)

akta.pro secondary industry

Olefins (Ethylene, Propylene, Butadiene) (EUALAHAD)

Keywords

• Oil refining
• Petrochemical manufacturing
• Polypropylene production
• Aromatics chemicals
• Refined petroleum products

Headquarters

HQ city

Haifa

HQ country

Israel

HQ region

Middle East

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Fuels (Oil Refining): The largest revenue stream, representing approximately 85% of the company's operations. Activities include purchase of crude oil and intermediate products, refining, separation, and processing into fuel products such as gasoline, naphtha, diesel fuel, kerosene, fuel oil, LPG, and bitumen. Products are sold to customers in Israeli and international markets.
2. Polymers (CAOL & Ducor): Production and sale of polypropylene (approximately 66% of plant output) and polyethylene (approximately 33%) through wholly-owned subsidiary Carmel Olefins Ltd. (CAOL) and Ducor Petrochemicals B.V. in the Netherlands. CAOL serves approximately 350 domestic customers and approximately 200 customers outside Israel (mainly Europe). Profits correspond to stable supply alongside constant demand for polypropylene.
3. Aromatics (Gadiv): Production and sale of approximately 580,000 tons per year of aromatics products including benzene, toluene, xylene, paraxylene, orthoxylene, phthalic anhydride, and solvents through wholly-owned subsidiary Gadiv Petrochemical Industries Ltd. Approximately 95% of products are sold to overseas customers in the Mediterranean Basin, USA, and Europe. The company holds approximately 13% market share in the Mediterranean Basin aromatics market.
4. Trading Operations: Leasing of tankers for marine transport of fuel products and procurement of raw materials from third parties via trading companies.
5. Infrastructure Services: Supply of power services to industrial customers in the Haifa Bay area, and infrastructure services including storage and transportation of fuel products.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels8 records

Core offering

Bazan Group operates an integrated oil refining and petrochemical complex in Haifa Bay, Israel, processing approximately 9.8 million tons of crude oil per year into refined petroleum products (gasoline, diesel, kerosene, LPG, bitumen, naphtha, fuel oil). Through wholly-owned subsidiaries Carmel Olefins Ltd. (CAOL) and Gadiv Petrochemical Industries Ltd., it produces polypropylene, polyethylene, and aromatics (benzene, toluene, xylene) for industrial customers in Israel and international markets. The company also supplies power and infrastructure services to industrial customers in the Haifa Bay area.

Product overview

Bazan Group is an integrated energy and petrochemical conglomerate operating as Oil Refineries Ltd., the largest and most complex energy group in Israel. The company operates a major oil refinery in Haifa Bay with approximately 197,000 barrels per day capacity, complemented by wholly-owned subsidiaries Carmel Olefins Ltd. (polyolefins/polymers) and Gadiv Petrochemical Industries Ltd. (aromatics). The portfolio consists of Fuels (refined petroleum products including gasoline, diesel, kerosene, LPG, bitumen), Polyolefins (polypropylene and polyethylene via Carmel Olefins), and Aromatics (benzene, toluene, xylene compounds via Gadiv). The company also operates trading, power services, and infrastructure businesses, with a strategic sustainability focus including green hydrogen and recycled polymers initiatives.

Differentiator

Problem solved

Functional benefit

Brands

• CAOL (Carmel Olefins Ltd.): Israel's sole manufacturer of petrochemical products used as raw materials for the plastics industry, producing polypropylene and low-density polyethylene.
• Gadiv Petrochemical Industries Ltd.
• Ducor Petrochemicals
• CarmelEco

Products and services

• Fuels (Refined Petroleum Products) Refined petroleum products including gasoline, naphtha, diesel fuel, kerosene, fuel oil, liquefied petroleum gas (LPG), and bitumen, sold to Israeli fuel and gas marketing companies and international customers primarily in the eastern Mediterranean. Produced at the Haifa Bay refinery with average utilization rates of approximately 90% per year. Represents approximately 85% of company operations.
• Polyolefins (Polypropylene and Polyethylene) Polypropylene (approximately 450,000 tons/year in Israel via CAOL, plus approximately 180,000 tons/year in the Netherlands via Ducor Petrochemicals B.V.) and low-density polyethylene (approximately 170,000 tons/year). Raw materials for the plastics industry supplied to approximately 350 domestic Israeli customers and approximately 200 international customers (mainly in Europe), with most under long-term agreements.
• Aromatics Aromatics compounds including benzene, toluene, xylene, paraxylene, orthoxylene, phthalic anhydride, and solvents, with annual production capacity of approximately 580,000 tons. Sold to overseas customers in the Mediterranean Basin, USA, and Europe, where approximately 95% of production is exported. Serves as raw materials for textile, chemical, paint, and plastic manufacturing.
• Trading Operations Commercial trading operations including leasing of tankers for marine transport of fuel products and procurement of raw materials from third parties via trading companies.
• Power and Infrastructure Services Supply of power services to industrial customers in the Haifa Bay area as well as infrastructure services including storage and transportation of fuel products.
• Green Hydrogen Fueling and Lab Services Hydrogen fueling station for trucks (Israel's first, located in the north of the country) and a dedicated hydrogen laboratory (Israel's first and only of its kind), supporting Bazan's green hydrogen development as part of its four-pillar sustainability strategy (hydrogen, polymers, fuels and infrastructure, and ESG).

Quantifiable outcome

• ~90% refinery utilization rate (up to ~98% during peak months)
• +6 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature6 records

Partnerships

Four partnerships are on record, tiered minor.

• Gain (startup by Trigo co-founder Michael Gabay)minorStrategic or Co-development Partner · 1 June 2025Gain, the startup founded by Trigo co-founder Michael Gabay, emerged from stealth with a $12 million seed funding round. Bazan Group participated alongside The Garage (lead investor) and BlueRed Partners. Bazan Group is piloting Gain's autonomous procurement and operational workflow technology with energy organizations. The investment funds R&D, new AI employee product launches, and business expansion across the US and Europe.
• CarmelEco (formerly VPM)minorStrategic or Co-development PartnerBazan Group acquired CarmelEco (formerly VPM), a company specializing in industrial waste recycling, as part of its sustainability strategy and circular economy initiatives.
• Various Israeli and international sustainability and energy partnersminorStrategic or Co-development PartnerBazan Group collaborates with startups in the energy and sustainability sectors and has signed its first agreement for the purchase of green electricity. The company works in close collaboration with academic institutions on safety programs (Climate Safety program) and hydrogen initiatives, and partners with green suppliers and environmental organizations.
• GES (Sewage Recycling Facility)minorStrategic or Co-development PartnerBazan Group partners with GES (GES — Gesher for Environmental Solutions), a sewage recycling facility that uses advanced filtering technology to treat and recycle wastewater from Bazan's operations. The partnership enables water reclamation for steam boilers, cooling towers, and reverse osmosis applications.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Motor Oil Hellas Corinth Refineries: Greek integrated oil refining and petrochemicals company operating one of the largest refineries in the Eastern Mediterranean. Directly comparable to Bazan in terms of regional Mediterranean refining footprint, integrated fuels/petrochemicals portfolio, and similar NCI complexity range.
• HelleniQ Energy (formerly Hellenic Petroleum): Major Greek energy group with refining, petrochemicals, and fuel marketing operations across the Eastern Mediterranean. Comparable to Bazan in vertical integration from refining to retail fuels and petrochemicals distribution in adjacent regional markets.
• Saras SpA: Italian refiner operating the Sarroch refinery in Sardinia with significant Mediterranean focus. Similar integrated refining model with comparable throughput capacity and product mix to Bazan's Haifa operations.
• LyondellBasell Industries: Global leader in polyolefins (polypropylene and polyethylene) production with integrated refining-feedstock operations. Directly comparable to CAOL/Ducor's polyolefins business in product mix, customer base, and technology positioning.

Regional players

• Delek Group: Israeli energy conglomerate holding refining (via Delek Israel), fuel retail, and natural gas exploration interests. Competes directly with Bazan in the Israeli domestic fuel market, though with a different operational footprint focused on downstream retail rather than integrated petrochemicals.

Broad incumbents

• Repsol: Spanish integrated energy major with significant refining and petrochemicals operations across the Iberian Peninsula and beyond. Overlaps with Bazan in petrochemicals and refining, though operating at significantly larger scale and with global rather than regional focus.
• INEOS Group: Global petrochemicals conglomerate with major polyolefins and aromatics production. Comparable to Bazan's petrochemicals segments (CAOL polyolefins, Gadiv aromatics) in product portfolio and European customer overlap, though operating at substantially larger scale globally.
• TotalEnergies: French integrated supermajor with significant refining, petrochemicals, and trading operations across Europe and the Mediterranean. Overlaps with Bazan in refined products, polyolefins, and aromatics, with comparable European customer reach.
• ORLEN (formerly PKN Orlen): Central European integrated oil and petrochemicals group with refining, polyolefins (polypropylene and polyethylene), and aromatics operations. Comparable to Bazan in integrated business model and product portfolio, though operating at larger scale across multiple geographies.
• Turkish Petroleum Refineries Corporation (TÜPRAŞ): Turkey's largest refining company operating four refineries with significant petrochemicals integration. Comparable to Bazan in regional Mediterranean refining position, integrated fuels-petrochemicals model, and export orientation to European markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCzjHqZh8KWe5KM2SGG9_EPQ
• Facebookfacebook.com/BazanIL
• LinkedInlinkedin.com/company/orl
• Instagraminstagram.com/bazangroup
• Xx.com/BazanGroup

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bazan Group ltd