Bazan

Bazan Group faces a 2.5 million shekel class action lawsuit over high benzene emissions recorded in Haifa Bay during October 2026 maintenance work.

American hedge fund Community Fund, led by Jeremy Blank, bought 23 million NIS worth of Bazan shares after a drop caused by facility pollution, securing a quick profit.

A severe benzene pollution spike was detected in Haifa Bay near the Bazan petrochemical complex, prompting environmental officials to demand urgent government action and facility closures.

The Tel Aviv Stock Exchange closed with a mixed trend as the TA-35 fell 0.16% to 4,089.94 points and the TA-125 edged up 0.04% to 3,934.01 points amid fluctuating stock performances.

Rafael Maman, CEO of Bazan, stated that relying solely on fuel imports is utopian for Israel, emphasizing that the country must maintain independent refining capabilities given current security realities.

The Bazan Group has valued the cost of its planned evacuation from Haifa Bay at over $5 billion. The company's management has submitted these figures to the head of the National Economic Council, Prof. Avi Simhon.

The National Planning and Building Council has set conditions for the demolition of a tank damaged during the 'Roar of the Lion' war and the construction of a new one. The Haifa Bay Association of Towns for Environmental Protection demands a binding resolution on environmental hazards at the BAZAN complex.

Bazan Chairman Moshe Kaplinsky stated that the company prefers to invest abroad due to uncertainty regarding the future of Israel's refining sector and government plans for its closure.

The company moved from a loss of $37 million to a profit after the refining margin jumped to $17.9 per barrel. Ukrainian attacks on oil refineries in Russia and the blocking of the Strait of Hormuz reduced the supply of fuel products and boosted profitability.

Shapir attempted to acquire the oil refinery in Ashdod, but the Concentration Committee recommended against the deal. We examine the authority and criteria this body uses to evaluate the influence of major players on the economy.

Since Friday, more than 130 benzene measurements above the alert value have been recorded at the Bazan station. The Haifa Bay Cities Association demands to locate the source of the emissions and clarifies that a spot check without a leak is not sufficient.

Local refining companies have faced a challenging year marked by operational disruptions and the impacts of war. Despite these hurdles, a sharp surge in refining margins has led to a doubling of the value of Bazan and BAZA shares year-to-date, providing significant returns for shareholders.