Operates oil refineries in ashdod.
Ashdod Refinery enters 2026 from a far stronger balance-sheet position, but the story has shifted from liquidity to whether fourth-quarter profitability reflects durable operating recovery or a temporary mix of strong spreads, normalization and compensation recognition.
Ashdod Refinery is entering 2026 with a refinery that returned to high operating pace, a clear premium over KBC, and a reasonable liquidity cushion, but the falling diesel strip means the year can absorb a maintenance window only if it stays short and precise.
Ashdod Refinery’s 2025 earnings combine a real operating recovery with a large accounting recognition layer tied to the off-spec feedstock event. The cleaner read is to separate the $87 million of recognized supplier and insurance compensation from the underlying earning power t…
