LONDON (Nov. 23)
British Petroleum and the Shell Company have reached agreement with the Isaac Wolfson-controlled Paz Company on acquisition by Paz of the Haifa refineries, sources close to British Petroleum reported today. They added that the Israel Government has agreed to the transaction.
It was also reported here that the Haifa-Tel Aviv oil pipeline, a six-inch line with an initial capacity of 570,000 tons annually, will go into operation in December. It will carry oil and kerosene from the Haifa refineries to central Israel.
The same sources also reported that Israel plans to convert the Elath-Beersheba crude oil pipeline to 16 inches soon, an expansion which would permit full use of the refineries.