Israel Government Seeks Foreign Partner to Buy Haifa Oil Refineries

The Israel Treasury is seeking investors abroad to enter into partnership with it to purchase the Haifa refineries now owned by British oil interests, it was reported here today.

Israel was pictured as not interested primarily in financial assistance, but rather in obtaining a partner who would arrange for an adequate supply of crude oil to bring to full use the refineries which are now operating at about one-quarter of their nearly 5,000,000 ton annual capacity.

Meanwhile, construction has been completed on a section of a 16-inch oil pipeline from Ashdod, south of Tel Aviv, to Haifa. The new line has about 5,000,000 tons capacity. Ashdod is the present outlet for the eight-inch line from the port of Elath.

NEXT STORY