Israeli conglomerate Paz, operator of the 100,000 b/d Ashdod refinery, on the country’s southern Mediterranean coast says it is looking to exit the refining business. As part of its “strategic plan” Paz is “examining alternatives for Paz Ashdod Refinery including a sale,” the firm says in its Q4 results this week.
The planned shake-up will see the firm “focus on retail.” Paz is Israel’s top fuel retailer and also has a growing network of convenience stores. (CONTINUED - 199 WORDS)