Paz recently signed a cooperation agreement with British Petroleum (BP), one of the world's largest energy firms.
Sources inform "Globes" the agreement signed with BP subsidiary AirBP concerns the supply of jet fuel for airplanes at Ben Gurion Airport. The deal is worth an estimated $6.5 million annually.
BP will replace Shell, the huge foreign supplier of jet airplane fuel. Paz, founded 80 years ago, was originally part of Shell. After the termination of the British mandate and Britain's withdrawal from Israel, Paz began operating under its current label.
Under the new agreement, Paz will supply jet fuel to international airlines, AirBP's usual customers.
This will make Paz the sub-supplier at Ben Gurion Airport for AirBP, BP's fuel and oil division.
The agreement does not grant BP exclusivity at Ben Gurion airport with regard to future Paz agreements. Paz will be entitled to compete in tenders published by foreign airlines for the procurement of jet fuel.
Published by Globes [online] - www.globes.co.il - on September 23, 2002