Paz Oil
Paz Oil is a Fuel Retail Brands brand from Israel.
Last updated August 31, 2026
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- Nov 4, 2026
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Overview
Paz Oil Company, presented in the supplied subject data as Paz Retail And Energy, is an Israeli energy and consumer-retail group. It is described as the largest Israeli oil and gas company and has historically combined petroleum importing, refining, wholesale distribution, retail fuel sales, liquefied petroleum gas, natural-gas services, convenience retail, and supermarket operations. Its principal consumer presence is a nationwide network of filling stations, many of which include Yellow convenience stores. Through Pazgas, the group supplies LPG and natural gas for household uses such as cooking and heating. It also operates or has operated businesses in aviation fuel, solar energy, lubricants and chemicals, and industrial products. The company traces its origins to 1922, when it was established as Anglo-Asiatic Petroleum. From 1927 it operated as part of Royal Dutch Shell under the Shell Palestine name. Shell withdrew from Israel in the late 1950s amid economic pressure associated with Arab states. In 1958, ownership passed to Scottish businessman Isaac Wolfson and the French Nahmias brothers, and the business was renamed Paz Petroleum Company. Paz retained a yellow triangular visual identity that continued to resemble Shell's historic branding. Ownership changed again in the following decades. Wolfson sold his interest to the State of Israel in 1981, and the state sold the company to Australian businessman Jack Liberman in 1988. Since 1999, businessman Zadik Bino has been the majority shareholder, while the Liberman family and other investors have retained minority positions. The company is publicly traded on the Tel Aviv Stock Exchange under the ticker PZOL. Paz expanded beyond traditional fuel distribution in the 1990s and 2000s. It acquired a controlling interest in Burger Ranch in 1999 and completed the purchase of the fast-food chain in 2001, subsequently placing new Burger Ranch locations at some Paz stations. Paz sold the chain in 2006. A more consequential expansion came in 2006, when Paz won the tender for the Ashdod Oil Refineries with a NIS 3.5 billion bid. The refinery acquisition strengthened the group's position across Israel's fuel supply chain and made it a major participant in refining, logistics, wholesale distribution, and retail marketing. By 2012, the company was reported to hold approximately 30 percent of Israel's fuel market and 31 percent of the country's gas stations. Its downstream network included about 260 filling stations and approximately 255 Yellow convenience stores, while Pazgas supplied LPG to more than half a million customers and was described as Israel's largest gas company. The group later broadened its food-retail exposure through the 2021 acquisition of Super Yuda and the subsequent acquisition of the Freshmarket chain. Paz remains primarily an Israel-focused integrated energy and retail company. Its scale gives it a broad consumer interface, from household gas and transport fuel to convenience goods and supermarkets, while its refining and industrial activities connect it to the wider energy infrastructure. The company has also faced public scrutiny concerning alleged involvement in supplying energy to Israeli settlements in the West Bank. In 2020 it appeared on a United Nations list concerning companies operating in West Bank settlements, and in 2021 Norway's KLP pension fund announced divestment from Paz on related grounds.
History
Paz began in 1922 as Anglo-Asiatic Petroleum. The business entered a new ownership and branding phase in 1927, when it became part of Royal Dutch Shell and operated under the name Shell Palestine. This period connected the company to the international Shell petroleum network while establishing its long-term role in fuel distribution in the territory that later became Israel. Shell withdrew from Israel in 1957. The departure followed economic pressure associated with Arab countries and resulted in a change of ownership. In 1958, Scottish businessman Isaac Wolfson and the French Nahmias brothers acquired the business, which was renamed Paz Petroleum Company Ltd. The company's yellow triangular symbol continued to bear a visual resemblance to Shell's emblem, preserving a link to its earlier identity even after the ownership change. The ownership structure changed again in the 1980s. Wolfson sold his holdings to the State of Israel in 1981. The Israeli state subsequently sold the company to Australian businessman Jack Liberman in 1988. Since 1999, Israeli businessman Zadik Bino has controlled a majority of the shares, with the Liberman family and other investor groups maintaining minority interests. Paz is listed on the Tel Aviv Stock Exchange under the ticker PZOL. During the late twentieth and early twenty-first centuries, Paz developed from a petroleum distributor into a diversified energy and retail group. It expanded its service-station network, added convenience retail through Yellow, and developed household gas distribution through Pazgas. The group also entered food service by acquiring 74 percent of Burger Ranch in 1999. It completed the acquisition in 2001, and some new Burger Ranch branches were opened at Paz stations. Paz sold Burger Ranch to businessman Yossi Hoshinski in 2006. The 2006 acquisition of Ashdod Oil Refineries was a major strategic step. Paz won the tender with a reported NIS 3.5 billion bid after Oil Refineries Ltd. was required to break up its monopoly over Israeli oil refining. The transaction gave Paz a stronger position across refining, logistics, wholesale supply, and retail fuel sales. It also made the company and its controlling shareholder particularly influential in Israel's energy industry. Paz's operating footprint subsequently included approximately 260 filling stations and 255 Yellow convenience stores. Pazgas was described as Israel's largest gas company, supplying LPG to more than half a million customers. Other activities included Paz Aviation, Paz Solar, Paz Lubricants & Chemicals, and Pazkar, a manufacturer of bituminous products, waterproofing membranes, coatings, and adhesives. In 2012, Paz was reported to account for about 30 percent of Israel's fuel market and 31 percent of its gas stations. The group continued diversifying into grocery retail in 2021. In March it acquired Super Yuda for a reported NIS 170 million, and in August it acquired the Freshmarket chain. These transactions broadened the consumer-retail role of Paz beyond forecourt convenience stores and connected its energy network with supermarket operations. Paz has also been subject to international scrutiny over its reported connection to Israeli settlements in the West Bank. The company was reported as appearing on a United Nations list published in February 2020 concerning companies operating in West Bank settlements. In July 2021, Norway's KLP pension fund said it would divest from Paz because of the company's reported role in supplying energy to those settlements. These events became a significant reputational and investment issue for the company, although the supplied reference material does not establish a separate legal judgment against Paz.
- 2021
Acquires Super Yuda
[1]Paz acquired the Super Yuda supermarket chain for a reported NIS 170 million.
- 2021
Acquires Freshmarket
[1]Paz acquired the Freshmarket supermarket chain, further expanding its grocery-retail operations.
- 2020
Listed by the United Nations in relation to West Bank settlements
[1]Paz Oil was reported as appearing on a United Nations list concerning companies operating in West Bank settlements.
- 2012
Reported leading fuel-market position
[1]Paz was reported to hold about 30 percent of Israel's fuel market and 31 percent of the country's gas stations.
- 2006
Wins Ashdod Oil Refineries tender
[1]Paz won the tender for Ashdod Oil Refineries with a reported NIS 3.5 billion bid.
- 2006
Sells Burger Ranch
[1]Paz sold Burger Ranch to Israeli businessman Yossi Hoshinski.
- 2001
Completes Burger Ranch acquisition
[1]Paz completed the purchase of Burger Ranch and became the chain's full owner.
- 1999
Zadik Bino becomes majority owner
[1]Zadik Bino acquired majority ownership, beginning the ownership period associated with the current controlling shareholder.
- 1999
Acquires Burger Ranch stake
[1]Paz acquired 74 percent of the Israeli Burger Ranch fast-food chain.
- 1988
Privatized through sale to Jack Liberman
[1]The State of Israel sold the company to Australian businessman Jack Liberman.
Products and positioning
An integrated Israeli energy platform combining refining, fuel distribution, household gas, service-station retail, convenience stores, supermarkets, and selected industrial and energy services.
Retail fuel
Paz fuel stations
Paz operates a large Israeli network of filling stations selling gasoline and other petroleum products. The stations form the group's principal direct consumer channel and are often combined with Yellow convenience stores, allowing the company to link transport-energy sales with everyday retail purchases.
Convenience retail
Yellow convenience stores
Yellow is Paz's convenience-store subsidiary and brand, operating at many Paz filling stations. Its sites extend the commercial function of fuel stations by selling food, beverages, household necessities, and other convenience goods. The supplied reference describes approximately 255 Yellow stores.
Household gas
Pazgas
Pazgas supplies liquefied petroleum gas and natural gas for household applications including cooking and heating. It is described in the reference material as Israel's largest gas company and as serving more than half a million customers.
Oil refining · 2006
Ashdod Oil Refineries
Ashdod Oil Refineries became a major Paz asset after the company won the 2006 acquisition tender. The refinery strengthened Paz's vertical integration across petroleum processing, logistics, wholesale distribution, and retail fuel marketing in Israel.
Supermarket retail · 2021
Freshmarket
Freshmarket is a supermarket chain acquired by Paz in August 2021. Its inclusion in the group expanded Paz's consumer-retail portfolio from forecourt convenience into grocery shopping and supermarket operations.
Supermarket retail · 2021
Super Yuda
Super Yuda is an Israeli supermarket chain acquired by Paz in March 2021. The transaction was part of Paz's strategy to broaden its retail activities and add grocery stores to its established fuel-station and convenience-store network.
Industrial materials
Pazkar
Pazkar manufactures bituminous products, waterproofing membranes, coatings, and adhesives. The business gives Paz exposure to industrial and construction-related materials in addition to its core petroleum and retail activities.
Energy and industrial services
Paz Aviation, Paz Solar, and Paz Lubricants & Chemicals
These businesses represent Paz's additional activities in aviation-related energy services, solar energy, and lubricants and chemicals. The supplied reference identifies the operations but does not provide separate product histories or detailed current scope for each one.
Controversies
2021
KLP divestment over West Bank settlement connections
On 5 July 2021, Norway's largest pension fund, KLP, said it would divest from Paz Oil. KLP cited the company's reported role in supplying energy to Israeli settlements in the West Bank.
2020
United Nations settlement-related listing
Paz Oil was reported on 12 February 2020 as included in a United Nations list of companies operating in West Bank settlements. The listing generated scrutiny concerning the company's commercial relationship with settlement activity.
Brand decisions
2021
Expand into supermarket retailM&ABackground
Paz sought to broaden its consumer-retail footprint beyond fuel stations and convenience stores.
Action taken
Paz acquired Super Yuda in March and Freshmarket in August.
Aftermath
The transactions added supermarket operations to Paz's integrated energy and retail portfolio.
Super Yuda acquisition price. NIS 170 million (March 2021)
2006
Acquire Ashdod Oil RefineriesM&ABackground
Israel's oil-refining sector was being opened to greater competition after Oil Refineries Ltd. was required to break its monopoly.
Action taken
Paz won the Ashdod Oil Refineries tender with a reported NIS 3.5 billion bid.
Aftermath
The acquisition increased Paz's vertical integration and helped establish it as one of Israel's most powerful energy companies.
Acquisition price. NIS 3.5 billion (2006 acquisition)
Sources1 sources
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