Israel Oil Refineries said Sunday that it had partly resumed activities at its Haifa facility, which was shut down following an Iranian missile strike two weeks ago.
The company, known by the Hebrew acronym Bazan, said in a regulatory filing in Tel Aviv that it was gradually restoring operations and would likely be fully operational by October. It noted that it holds insurance covering damage and profit losses of up to $250 million caused by acts of terrorism and war.
Bazan said on June 15 that its pipelines and transmission lines in Haifa had been damaged by Iranian missile strikes, which killed three employees, and that it was examining the impact of the damage on its operations and implications on its financial results.
Energy Minister Eli Cohen said separately on Sunday that Israel’s energy system “functioned flawlessly throughout the war, and the swift resolution of the issue at Bazan is further proof of the strength and resilience of Israel’s energy sector.”
The 12-day war with Iran, which ended with a US-brokered ceasefire last week, saw Israel strike Iran’s nuclear program, missile facilities and military leadership. Israel said the operation was necessary to prevent the Islamic Republic from realizing its avowed goal of destroying the Jewish state.
Iran retaliated by launching over 500 ballistic missiles and around 1,100 drones at Israel. The attacks killed 28 people and wounded over 3,000 in Israel, according to health officials and hospitals.
A major player in Israel’s energy market, Bazan has long been a target of Israel’s adversaries. Prior to being devastated by Israel in open war last fall, Iran’s Lebanese proxy Hezbollah published a video in June 2024 that purported to show one of its drones flying over the Bazan refinery site in Haifa and other sensitive installations in the area.
Bazan is owned by Petrochemical Enterprises, which took over control from ICL (formerly Israel Chemicals Ltd.) in September 2022. In 2024, Bazan supplied 65 percent of Israel’s diesel fuel for transportation, 59% of its gasoline, and 52% of its kerosene (used for jet fuel and cooking gas), according to information sent to the stock exchange in March.
Sue Surkes contributed to this report.