Yashar Ben-Mordechai

CEO

  Established in 1938 and privatized in 2007, Oil Refineries Ltd. is among Israel's largest energy groups. It operates one of the largest and most complex refineries in the Eastern Mediterranean, with a maximum production capacity of 197,000 barrels per day. The Company also integrates petrochemical manufacturing facilities and operates a global trading business.
  With its manufacturing center in Haifa, Israel, the Company benefits from its close proximity to abundant and diverse crude oil supplies, enjoys a leading position in its large domestic market and has access to attractive export markets. ORL operates sophisticated, state-of-the-art industrial facilities with refining capacity of up to 9 million tons of crude oil per year and a Nelson complexity index of 7.4, providing a variety of high quality products used in industry, transportation, agriculture and infrastruct...

  Established in 1938 and privatized in 2007, Oil Refineries Ltd. is among Israel's largest energy groups. It operates one of the largest and most complex refineries in the Eastern Mediterranean, with a maximum production capacity of 197,000 barrels per day. The Company also integrates petrochemical manufacturing facilities and operates a global trading business.
  With its manufacturing center in Haifa, Israel, the Company benefits from its close proximity to abundant and diverse crude oil supplies, enjoys a leading position in its large domestic market and has access to attractive export markets. ORL operates sophisticated, state-of-the-art industrial facilities with refining capacity of up to 9 million tons of crude oil per year and a Nelson complexity index of 7.4, providing a variety of high quality products used in industry, transportation, agriculture and infrastructure.
  The Company's three business sectors are: refining, trading and petrochemicals. The petrochemical sector is comprised of polymers, through 100%-held Carmel Olefins, and aromatics, through 100%-held Gadiv Petrochemical Industries. In late December 2009, the Company purchased the remaining 50% of Carmel Olefins from Israel Petrochemical Enterprises.
  Growth Strategy - In November 2007, ORL launched a comprehensive strategic investment plan aimed at increasing its competitive standing. This is being achieved by upgrading key assets — in particular the Haifa-based oil refinery and the integrated petrochemical infrastructure — while exploiting the company's unique competitive advantages, such as the extensive know-how of company engineers, seasoned management and its global trade network. At the heart of this strategic plan is the establishment of a 25,000 barrel per day hydrocracking unit at a total investment of $500 million. Upon activation by early 2012, this hydrocracker is expected to substantially increase the refinery's complexity and flexibility, enabling products with higher added-value from each barrel of oil. In February 2010, the Company finalized the financing for this investment has has begun installing the facility.
  In June 2009, the Company activated the first stage of its mild hydrocracking unit, increasing its diesel and jet fuel production by 2% per annum. The second phase, due to be completed in June 2010, will add a further 2%. In July 2009, the Company completed the upgrading of its largest crude unit in order to enable the refining of a broader range of crude oils.
  Environmental Policy and Investments - The Company views reducing its environmental impact and producing environmentally friendly products a strategic business direction. Its investment plan allocates $270 million to improve safety and reliability and reduce environmental impact. Transportation fuels produced by the company are fully Euro 5-compliant.
  Meeting the Highest Quality Standards - All of ORL's products undergo strict quality control and assurance procedures and a series of international tests supervised by the Standards Institute of Israel. ORL's products comply with the ISO 9002 standard and most carry the "Green Shield" of the Standards Institute, indicating compliance with environmental quality standards. Environmental management complies with the ISO 14001 standard, and the ORL safety system is IS 18001 certified.

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