Delek Group Explained

Delek Group Ltd.
Type:Public
Location:Netanya, Israel
Key People:Idan Wallance (CEO)
Equity: ₪ 4.877 billion (2010)
Revenue: ₪ 44.567 billion (2010)
Assets: ₪ 91.896 billion (2010)
Net Income: ₪ 1.225 billion (2010)
Industry:Conglomerate
Products:Oil, gas, automotive

Delek Group (Hebrew: קבוצת דלק) is an Israeli holding conglomerate mainly operating in the petroleum industry. Delek Group's largest subsidiary is Delek – The Israel Fuel Corporation, one of the largest chains of filling stations in Israel. Delek Group also owns E&P operations across the Levant, in the North Sea and in the Gulf of Mexico. Beyond the oil industry, it also owns coffeehouse chain Café Joe as well as 70% of the Israeli franchisee of Burger King.

Delek Group is listed on the Tel Aviv Stock Exchange under the ticker symbol, DLEKG,[1] and is a member of the TA-35 Index of leading Israeli companies. Delek Group previously held major shares in automobile import company Delek Motors, nutraceuticals company Gadot Biochemistry, desalination company IDE Technologies and holding company Phoenix Holdings, all of which were later sold.

History

Delek Group was first founded as Delek – The Israel Fuel Corporation Ltd in 1951.

In August 2007, Delek Benelux took over marketing activities for Chevron Global Energy Inc. in Benelux, including 869 fueling stations, mostly under the Texaco brand.[2] The same month, Delek Israel's Delek Pi-Glilot, a fuel storage and distribution company operating in Ashdod, Jerusalem and Beersheba, won a Government Companies Authorities tender to run the fuel storage facilities in Ashdod. A few months later in November, they announced the hiring of former police commissioner Moshe Karadi to run Delek Pi-Glilot. had recently resigned.[3] Gabi Last, former commissioner and commander of the Tel Aviv Central District, has been chairing Delek Group for several years.[4] On January 1, 2020, Idan Wallance became Delek's new CEO.[5]

Holdings

Energy and infrastructure

Upstream

Assets include holdings in Yam Tethys Partnership, Tamar gas field, Leviathan gas field, Tanin gas field, and Aphrodite gas field.

Downstream

Food and restaurants

Former holdings

Infrastructure

Insurance and finance

Automotive

Nutrition

Criticism

Involvement in Israeli settlements

See also: List of companies operating in West Bank settlements.

On 12 February 2020, the United Nations published a database of 112 companies helping to further Israeli settlement activity in the West Bank, including East Jerusalem, as well as in the occupied Golan Heights.[9] These settlements are considered illegal under international law.[10] Delek was listed on the database on account of its "provision of services and utilities supporting the maintenance and existence of settlements" and "the use of natural resources, in particular water and land, for businesspurposes" in these occupied territories.[11]

On 5 July 2021, Norway's largest pension fund KLP said it would divest from Delek together with 15 other business entities implicated in the UN report for their links to Israeli settlements in the occupied West Bank.[12]

See also

External links

Notes and References

  1. Web site: Delek Group - Investor Relations - Stock Quote and Chart . dead . https://web.archive.org/web/20130906005057/http://ir.delek-group.com/phoenix.zhtml?c=160695&p=irol-stockquote . 2013-09-06 . 2011-10-11.
  2. Web site: Delek Petroleum, Ltd. . dead . https://web.archive.org/web/20081227145652/http://www.delek-group.com/Content.aspx?Page=petroleum . 2008-12-27 . 2008-06-20.
  3. Web site: Jerusalem Post on Karadi . dead . https://web.archive.org/web/20110924134105/http://fr.jpost.com/servlet/Satellite?pagename=JPost%2FJPArticle%2FShowFull&cid=1195546734857 . 2011-09-24 . 2019-07-21.
  4. http://www.haaretz.com/hasen/pages/ShArt.jhtml?itemNo=928357&contrassID=2&subContrassID=2 Haaretz: Delek Hires top cop
  5. Web site: Delek Group Appoints New CEO . dead . https://web.archive.org/web/20191129230740/https://www.rigzone.com/news/delek_group_appoints_new_ceo-28-nov-2019-160455-article/ . 2019-11-29 . 2020-01-06.
  6. Web site: Delek on Dankner . dead . https://web.archive.org/web/20071226052022/http://www.delek-group.com/Content.aspx?Page=real&Child=35 . 2007-12-26 . 2008-06-20.
  7. Web site: Press Releases - Starbucks Dissolves Joint Venture with the Delek Group of Israel . dead . https://web.archive.org/web/20140819082811/https://gr.starbucks.com/en-US/_About+Starbucks/_Press+Room/Starbucks+Dissolves+Joint+Venture+with+the+Delek+Group+of+Israel.htm . 2014-08-19 . 2014-08-20.
  8. http://www.bdcentral.co.nz/afa.asp?idWebPage=8338&idBobDeyProperty_Articles=3266&SID=41588497 The Bob Bey Property Report
  9. News: 12 February 2020. UN rights office issues report on business activities related to settlements in the Occupied Palestinian Territory. Office of the United Nations High Commissioner for Human Rights. 5 July 2021.
  10. News: 23 December 2016. UN Security Council Resolution 2334, 2016 (S/RES/2334(2016)). United Nations Security Council. 5 July 2021.
  11. Web site: Database of all business enterprises involved in certain activities relating to Israeli settlements in East Jerusalem and the West Bank (A/HRC/43/71). 12 Feb 2020. UN OCHA. 2021-09-12.
  12. Web site: Nordic fund KLP excludes 16 companies over links to Israeli settlements in West Bank. Gwladys. Fouche. Simon. Jessop. 5 July 2021. Reuters. 2021-09-13.

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