Delek Group

What Delek Group does

Delek Group is an Israeli public holding company, founded in 1951 and listed on the Tel Aviv Stock Exchange in the TA-35 Index under the ticker DLEKG, controlled by Yitzhak Tshuva through Tashluz Investments and Holdings since 1998. Headquartered in Herzliya, the Group operates through majority-owned subsidiaries across three verticals: upstream energy via Ithaca Energy (50%) in the UK North Sea, NewMed Energy (54.7%) across the Eastern Mediterranean, and InPlay Oil in Canada; financial services via Isracard (40%), Israel's largest credit card company with 4.7 million+ active cards; and real estate and agriculture via Mehadrin, which holds tens of thousands of dunams of Israeli land and is pursuing agrovoltaics through a partnership with TeraLight.

Core operations span deepwater gas exploration, development and production, with a flagship position at the Leviathan field (approximately 635 BCM of recoverable reserves as of December 2025) and a combined production capacity of approximately 96,000 boe/d across the energy portfolio. The Group's revenue model combines transaction-fee-based energy sales (gas and oil to utilities, industrial off-takers and export markets), transaction-fee and interest-based financial services revenue from Isracard's payment infrastructure, and agricultural product sales plus potential real estate development from Mehadrin.

Distribution is multi-channel: securities are listed on the TASE, London Stock Exchange (Ithaca), and Toronto Stock Exchange (InPlay), while natural gas flows through direct B2B pipeline relationships and potential FLNG infrastructure, and Isracard operates a nationwide point-of-sale and online payment network serving Israeli consumers and more than 100,000 SMB merchants. Geographically the Group operates in Israel, the UK, Cyprus, Bulgaria, Morocco, and Canada, and reported Q1 2026 group revenue of approximately ₪4.7 billion, ₪45 million in net profit, and ₪250 million in dividends paid, supporting an ~8% annual dividend yield at a market capitalization of approximately ₪14.7 billion as of July 2026.

Name

Delek Group

Legal name

Delek Group Ltd. (קבוצת דלק בע"מ)

Website

https://delek-group.com

Company type

Public

Founded year

1951

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Delek Group is an Israeli public holding company (TASE: DLEKG, TA-35) controlling Ithaca Energy, NewMed Energy, InPlay Oil, Isracard, and Mehadrin, with operations spanning upstream oil and gas across Israel, the UK North Sea, Eastern Mediterranean, and Canada, plus Israeli financial services and agricultural real estate.

Ownership category

akta.pro rank

Headquarters

HQ city

Netanya

HQ country

Israel

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Oil and Gas Exploration & Production: Revenue from exploration, development, and production of oil and natural gas through subsidiaries Ithaca Energy (UK North Sea), NewMed Energy (Eastern Mediterranean), and InPlay Oil (Canada). Group revenue for Q1 2026 was approximately 4.7 billion shekels.
2. Financial Services (Isracard): Credit, payment processing, and other non-banking financial services through Isracard (40% owned). Manages over 4.7 million active credit cards. Revenue from transaction fees, interest income, and financial services provision.
3. Real Estate and Agriculture (Mehadrin): Agricultural operations and real estate development through Mehadrin, holding tens of thousands of dunams of agricultural land. Revenue from agricultural product sales (primarily export-oriented) and potential real estate development.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Delek Group is a publicly traded Israeli holding company that operates through majority-owned subsidiaries across three core sectors: (1) oil and natural gas exploration, development and production via Ithaca Energy (UK North Sea, 50% owned), NewMed Energy (Eastern Mediterranean, 54.7% owned), and InPlay Oil (Canada); (2) credit card and financial services via Isracard (40% owned, Israel's largest credit card company serving over 4.7 million active cards and 100,000+ merchants); and (3) real estate development and agricultural operations via Mehadrin.

Product overview

Delek Group is a diversified holding company operating through multiple subsidiaries across three core sectors. In Energy, it holds stakes in Ithaca Energy (50%, UK North Sea oil and gas), NewMed Energy (54.7%, Eastern Mediterranean gas including Leviathan field), and InPlay Oil (Canadian onshore oil and gas). In Financial Services, it controls Isracard (40%), Israel's largest credit card company. In Real Estate/Agriculture, it owns Mehadrin, a significant landholder with real estate development and agricultural operations. The company was founded in 1951 and discovered major Israeli gas reserves including Leviathan, transforming Israel into a regional energy power.

Differentiator

Problem solved

Functional benefit

Products and services

• Ithaca Energy British oil and gas company operating in the UK North Sea, focused on exploration, development and production of natural gas and oil. Holds portfolio including Captain, Stella, Vorlich, Glenlivet and Foinaven fields, plus major development licenses Rosebank (20%, with Equinor) and CAMBO (100%). Delek Group holds 50% and ENI holds 38%. Listed on London Stock Exchange under ticker ITH.

Quantifiable outcome

• 635 BCM of recoverable gas reserves at Leviathan field
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• BPcoreStrategic or Co-development Partner · 1 October 2023NewMed Energy, together with BP and SOCAR, was awarded six licenses for natural gas exploration in Area I of Israel's exclusive economic zone. The license cluster is located near the active Leviathan field, with ownership divided equally between partners.
• SOCARcoreStrategic or Co-development Partner · 1 October 2023SOCAR designated as operator of the exploration licenses in Area I. Six licenses awarded for natural gas exploration in Israel's exclusive economic zone, with ownership: NewMed Energy (33.33%), BP (33.33%), and SOCAR (33.34%).
• Chevron (formerly Noble Energy)coreStrategic or Co-development PartnerHistorical partnership with Noble Energy (now Chevron) led to major gas discoveries including Leviathan. Chevron holds 39.7% in Leviathan field alongside NewMed Energy (45.3%) and Ratio (15%).
• EquinorminorStrategic or Co-development PartnerEquinor (majority-owned by Norwegian government) is partner in the Rosebank field (20%) in UK North Sea. Ithaca Energy holds the remaining interest.
• TeraLightminorStrategic or Co-development PartnerStrategic partnership with TeraLight for agrovoltaics sector through Mehadrin. Collaboration based on dual-use land approach, integrating agricultural activity with clean energy generation.

Scale indicators15 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Tamar Petroleum: Israeli upstream gas company operating the Tamar field in the Eastern Mediterranean. Comparable as a directly competing Israeli-focused gas producer with overlapping reserve geographies and similar regulatory exposure.
• BP: Global energy major and partner with NewMed Energy and SOCAR in Area I exploration licenses offshore Israel. Comparable as a co-venturer in Delek Group's Eastern Mediterranean exploration portfolio and as a supermajor with Mediterranean upstream interest.
• ENI: Italian integrated energy major and 38% shareholder in Delek Group's subsidiary Ithaca Energy. Directly comparable as a partner in UK North Sea upstream operations and as a global E&P with significant Mediterranean exposure.
• Harbour Energy: UK-listed North Sea-focused upstream operator. Comparable as a UK North Sea peer to Ithaca Energy with similar capital-intensive E&P profile and exposure to UK regulatory frameworks.
• Ratio Oil Exploration: Israeli E&P company holding 15% of the Leviathan field alongside NewMed Energy. Directly comparable as an Israeli upstream operator with overlapping Eastern Mediterranean asset base and shared partner ecosystem.
• Chevron: US supermajor and 39.7% partner in the Leviathan field alongside NewMed Energy. Comparable as a partner in Delek Group's flagship gas asset and as a global upstream supermajor with deepwater expertise.
• Equinor: Norwegian state-majority integrated energy company and partner with Ithaca Energy in the Rosebank field (UK North Sea). Directly comparable as a co-venturer in Delek Group's UK North Sea assets and as a major upstream operator with North Sea expertise.
• Cairn Energy: UK-listed upstream E&P company with international asset exposure. Comparable as a similar-sized, geographically diversified independent E&P operator competing for global upstream opportunities.

Broad incumbents

• Azrieli Group: Israeli real estate and investment conglomerate listed on the TASE. Comparable as a fellow diversified Israeli holding company with significant real estate and investment activities, also included in the TA-125 index.
• Israel Corporation: Large Israeli holding conglomerate with diversified industrial and energy interests. Comparable as a peer Israeli holding company structure with diversified portfolio across shipping, energy, and industrial assets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/delekgroup
• Facebookfacebook.com/109418225743784

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

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

M&A

Investments3 records

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

Frequently asked questions about Delek Group