Israel’s two refiners kept runs at near-record levels in the first half of 2018. Combined output from Haifa’s 197,000 b/d Bazan refinery and the 100,000 b/d Paz plant at Ashdod averaged 303,300 b/d, just down on the record of 312,000 b/d set in the second half of last year. On a quarterly basis, 1Q 2018’s 317,200 b/d was marginally down on the preceding quarter’s record volumes (see table).
Recent records come amid a sustained period of bumper margins, which Bazan pegs at $6/B (based on Russian Urals crude) since the start of 2018. (CONTINUED - 555 WORDS)