ELF is examining the possibility of establishing an oil refinery and importing crude oil via Eilat from its fields in Saudi Arabia.
ELF, the largest gasoline company in France and considered the eighth largest in the world in this field, has decided to begin activities in Israel for the first time. This is the first foreign gasoline company entering the Israeli market.
The company has a principal agreement for cooperation with Opectra. Opectra specializes in land for the construction of gas stations and other real estate projects.
ELF is considering the possibility of constructing an oil refinery in Ashkelon, at a cost of approximately $120 million. According to this plan, crude oil will be imported from oil fields ELF owns in Saudi Arabia to the Eilat port. A pipeline will be constructed from the port to Ashkelon, where the oil will be refined.