Israel shares higher at close of trade; TA 35 up 0.30%
- ByInvesting.com
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Oil Refineries Ltd., together with its subsidiaries, primarily engages in the production and sale of fuel products, intermediate materials, and aromatic products in Israel and internationally. The company operates through two segments: Refining and Polymers. The Refining segment distills and separates crude oil and intermediate materials into end products and feedstock, including light gases, liquefied petroleum gas, naphtha, gasoline, kerosene, diesel fuel, fuel oil, waxy substances, bitumen, aromatic materials, benzene, toluene, xylene, paraxylene, orthoxylene, phthalic anhydrides, and solvents, as well as manufactures hydrogen from natural gas. The segment offers its products to fuel and gas marketing companies; and manufacturers in the textile, paint, chemicals, and plastics industries. The Polymers segment engages in the manufacture and marketing of polymers comprising polypropylene and low-density polyethylene, which are the principal feedstock in the plastics industry; ethylene and propylene used as feedstock in the production of polymers; and manufacture of recycled plastic. It is also involved in the lease and management of tankers for marine transportation of fuel products; and trading and shipping activities. The company was formerly known as Haifa Refineries Ltd. and changed its name to Oil Refineries Ltd. in June 1972. Oil Refineries Ltd. was incorporated in 1959 and is headquartered in Haifa, Israel.