As ever, supply security is a dominant theme in Israel’s oil sector. Domestic output is rising, albeit from a miniscule base. The country is expanding its list of crude sources, whilst looking to maximize the use of plentiful local gas at the expense of imported oil.
Israel’s two refineries – 197,000 b/d Bazan (ORL) at Haifa and 100,000 b/d Paz at Ashdod, both on the Mediterranean –delivered a record 306,300 b/d of products output in 2019. This is comfortably ahead of 230,000 b/d domestic oil demand, with key output 110,800 b/d of diesel/gasoil, 72,800 b/d of gasoline and 30,300 b/d of jet-kerosene (see chart 1 and table). (CONTINUED - 1106 WORDS)