Israeli firm Paz, which operates the country’s second largest refinery with 100,000 b/d capacity at Ashdod south of Tel Aviv saw output rebound in Q4 to a near three-year high 90,500 b/d following the completion of full maintenance in June and July (MEES, 26 August 2022). This wasn’t enough though to prevent whole-year 2022 output slipping to a ten-year low 75,300 b/d, down a further 7% on 2021 levels which were already depressed due to the coronavirus pandemic (MEES, 1 April 2022).

Q4 output was up 45% on Q3 for the highest quarter since Q1 2020 (see chart). Gasoline output rebounded strongly by 49% quarter on quarter to 37,700 b/d; diesel output was up 40% to 30,000 b/d, jet-kero up 50% to 10,900 b/d and fuel oil more than doubled to 7,500 b/d. (CONTINUED - 381 WORDS)