Israel Refiners Ramp Up Throughputs On Back Of Cut-Price KRG Barrels

Israel’s two refineries racked up record output last year despite domestic oil demand falling. A cut-price crude source – distressed cargoes from Iraqi Kurdistan – is the likely explanation.

Both of Israel’s refineries – the 196,000 b/d capacity Bazan plant in Haifa and the 100,000 b/d Paz plant in Ashdod achieved record runs in 2014. Total products output was 295,000 b/d, up by 4.5%...