Israel’s two refiners Paz and Bazan kept runs at near record levels in the first half of 2016 despite falling margins.

Total output from the two plants – which have a combined capacity of 296,000 b/d – was 293,600 b/d in Q1 and 291,400 in Q2. For the first half as a whole output was 292,500 b/d, almost bang in line with 2015 numbers. The output data indicate that the plants collectively continue to run at around 95% of capacity as they have done since late 2013 (see table). (CONTINUED - 442 WORDS)