This is how it began:
Paz is founded under the name Anglo-Asiatic Petroleum.
– The company begins to operate under Shell worldwide and its owners change its name to Shell Palestine.
– Shell capitulates to the Arab boycott and through the mediation of then-finance minister Levi Eshkol the company's shares are acquired by the Israeli government and a British Jew named Isaac Wolfson. They changed the company's name a third time, to Paz Oil Company, Ltd.
– Isaac Wolfson sells his share in the company to the Israeli government.
– The state sells the company to Australian businessman Jack Lieberman and Paz becomes a private company.
– The Claridge Group and the Renaissance Fund acquire a third of the company's shares.
– Zadik Bino buys 60% of the company's shares, with 30% remaining with Jack Lieberman and Mudi Ben-Shach acquiring a 7% stake. 3% is held by others.
– Bank Leumi acquires 19% of the company from the Bino and Lieberman groups.
– Paz wins the government tender for the sale of the Ashdod Oil Refinery and begins its vertical fuel chain operations.
The Paz Group today:
The Paz Group has a significant controlling nucleus, long-term strategic planning, vertical activity along the value chain and an encompassing view of our customer's needs, with some 275 filling stations of which 50 are part of our retail complexes, and more than 235 Yellow convenience stores. It has four companies that manufacture, import and supply advanced products and services to institutional customers and consumers alike – and with the second largest refinery in Israel that supplies about a third of the country’s fuel consumption, there is no doubt that the Paz Group is Israel’s largest and most successful energy and retail corporation.
Everyone knows our name, everyone recognizes our logo, and everyone respects our reputation.