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Israel Oil Refineries names military veteran Kaplinsky as CEO

June 02/2020

MOSCOW (MRC) -- Israelís Oil Refineries (ORL) said it named Moshe Kaplinsky as its new chief executive officer to replace Shlomi Basson, said Hydrocarbonprocessing.

Kaplinsky, 63, most recently served as CEO of Israeli cement producer Nesher between 2013 and 2020 after a 30-year career in Israelís military, where he reached the rank of major general.

After retiring from the military in 2007, he became CEO of Better Place, a short-lived electric vehicle venture, until 2012.

Kaplinsky in a statement called ORL "a vital industry for the economy that has sharpened in recent times."

ORL, Israelís largest refining and petrochemicals group and controlled by Israel Corp, last week said it swung to a loss in the first quarter as refining margins plummeted in the wake of the coronavirus crisis.

As MRC informed earlier, Israelís Oil Refineries (ORL) reported zero profit in the fourth quarter for the second straight year on Wednesday and said it had so far not seen a big impact to the company from the coronavirus outbreak. Its revenue in the quarter fell 13% to USD1.55 billion. ORL, Israelís largest refining and petrochemicals group, said the only hit to its sales has been in jet fuel sales in Israel, which comprise just 8% of the total fuel sector output.

Ethylene and propylene are feedstocks for producing PE and PP.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 383,760 tonnes in the first two month of 2020, up by 14% year on year. High density polyethylene (HDPE) and linear low density polyethylene (LLDPE) shipments increased due to the increased capacity utilisation at ZapSibNeftekhim. At the same time, PP shipments to the Russian market were 192,760 tonnes in January-February 2020, down by 6% year on year. Homopolymer PP accounted for the main decrease in imports.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, crude oil, PP, PE, petrochemistry.
Category:General News
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