Origins and Early Years (1922-1957)
Paz Oil Company’s story began in 1922 as Anglo-Asiatic Petroleum during the British Mandate period. In 1927, Shell took control of operations, rebranding it as Shell Palestine, establishing the foundation for what would become one of Israel’s leading energy companies.
Transition to Israeli Ownership (1958-1987)
A pivotal moment came in 1958 when the Israeli government and Sir Isaac Wolfson acquired the company from Shell, renaming it Paz Oil Company Ltd. This acquisition marked its transformation into an Israeli enterprise, further solidified when Wolfson sold his stake to the government in 1981.
Corporate Evolution (1988-2015)
Following privatization in 1988, Paz embarked on significant expansion, launching its Yellow convenience store chain in 1999. The company modernized its brand with a new triangular logo in 2003. A major milestone was reached in 2006 with the acquisition of the Ashdod Oil Refinery and listing on the Tel Aviv Stock Exchange.
Innovation and Expansion (2016-Present)
Recent years have seen Paz transform into a diverse conglomerate. The Yellow chain achieved remarkable success, launching a popular mobile app in 2018 and partnering with Wolt for delivery services in 2020. By 2021, Paz had become one of Israel’s largest food retailers through strategic acquisitions, with Yellow’s sales exceeding one billion shekels.
Sustainable Future and Current Operations
Responding to global energy trends, Paz launched Paz Charge in 2022, establishing an ultra-fast electric vehicle charging network. In 2023, the company underwent significant restructuring, separating from the Ashdod Refinery through a dividend distribution to shareholders.
Legacy and Outlook
Today, Paz operates across multiple sectors, including transportation energy, food retail, real estate, and renewable energy. Through a century of service, the company has evolved from a simple fuel distributor into a customer-focused conglomerate, demonstrating remarkable adaptability while maintaining its commitment to serving millions of Israeli customers across all aspects of daily life.