| Paz Oil Company | |
| Location City: | Yakum |
| Location Country: | Israel |
| Key People: | Zadik Bino, Owner Yona Fogel, CEO |
| Products: | Petroleum, Petrochemical |
| Divisions: | Refining and Logistics Retail and Wholesale Industries and Services |
| Revenue: | ₪ 12.690 billion (2009) |
| Operating Income: | ₪ 785 million (2009) |
| Net Income: | ₪ 575 million (2009) |
| Num Employees: | 2000~ (2009) |
| Subsid: | Yellow Paz Ashdod Refinery Pazgas Paz Solar Paz Aviation |
| Homepage: | www.paz.co.il |
Paz Oil Company Ltd. (Hebrew: פז חברת הנפט בע"מ) is the largest Israeli fuels company. Paz distributes gasoline and other petroleum products through a network of gas stations, as well as LPG and natural gas for home use (cooking and heating) through its subsidiary PazGaz. Paz operates combined cafes and stores in many gas stations, through its subsidiary Yellow. It also owns the supermarket chains Freshmarket and Super Yuda.
Paz was founded in 1922, as Anglo-Asiatic Petroleum. From 1927 it operated as part of Royal Dutch Shell, under the name Shell Palestine.
In 1957 Shell decided to withdraw from Israel under economic pressure from Arab countries. In 1958, the company changed to the ownership of the Briton Isaac Wolfson and the French Nahmias brothers and changed its name to Paz Petroleum Company Ltd. The symbol of the company, a yellow triangle, still resembles that of Shell.
Wolfson sold his company holdings in 1981 to the State of Israel, who sold it in 1988 to the Australian Jack Liberman. Since 1999, the Israeli businessman Zadik Bino owns the majority of the shares, with the Liberman family and other groups holding minority interests.
In 1999, Paz acquired 74 percent of the Israeli fast food chain Burger Ranch. In late 2001, Paz completed the acquisition of Burger Ranch, becoming 100 percent owners of the chain. New branches of Burger Ranch were opened at Paz gas stations. In 2006, Paz sold the chain to the Israeli businessman Yossi Hoshinski.
In August 2006 Paz won a tender to acquire the Ashdod Oil Refineries with a NIS 3.5 billion bid, from Oil Refineries Ltd; which was forced to break its monopoly on oil refining in Israel. The acquisition made Paz Israel's most powerful energy company and its owner Zadik Bino the industry's most powerful figure.
In 2012, Paz held 30% of the Israeli fuel market and 31% of the Israeli gas stations. On 12 February 2020, Paz Oil was listed on the United Nations list of companies operating in West Bank settlements.[1] On 5 July 2021, Norway's largest pension fund KLP said it would divest from Paz Oil as it helped to power Israeli settlements in the West Bank.[2]
In March 2021, Paz acquired the Super Yuda supermarket chain for 170 million NIS.[3] In August that year, it also acquired the Freshmarket chain.