VOL. XLV

No 43

28-October-2002

ISRAEL

Israel Oil Refineries Mulls Closure Of Ashdod Refinery

The board of directors of Israel Oil Refineries (IOR), the majority state-owned company that operates the countrys two oil refineries, has discussed options for the closure of its 90,000 b/d Ashdod plant in an effort to stem financial losses, according to a report in the daily Ha'aretz of 14 October. In 2001, IOR lost IS22mn ($4.6mn), and its losses in the first quarter of 2002 amounted to IS93mn, while...