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Oil Refineries Entered Into A Contractual Agreement With The Tamar Partnership For The Purchase Of Natural Gas

What is stated above concerning the expected start date for the supply of natural gas from the Tamar Partnership as well as the amount supplied to the Group in the interim period, from the Tamar Partnership and the Tethys Sea Partnership, are forecasts based, inter alia, on estimates of the Tamar Partnership of the date of operation of their gas field (in all matters related to the supply start date), the total natural gas consumption by the various consumers in Israel and other factors (in all matters related to the amount of supply in the period of shortage). Accordingly, there can be no certainty as to the date of the start of gas supply under the Agreement, and to the amount of supply to the Company, if and when there shall be a shortage period in its meaning in the Agreement.

The above is a convenience translation of the Hebrew announcement.  Only the Hebrew announcement filed with the Israeli Securities Authority and the Tel-Aviv Stock Exchange will bind the company.

About Oil Refineries Ltd.

Oil Refineries Ltd. (ORL), located in the bay area of the city of Haifa, operates Israel's largest integrated refining and petrochemical group. It is one of the leading refineries in the Eastern Mediterranean area and integrates, on-site, petrochemical businesses. ORL runs sophisticated and state-of-the-art industrial facilities with a refining capacity of 9.8 million tons of crude oil per year and a Nelson Complexity Index of 7.4, providing a variety of quality products used in industrial operation, transportation, private consumption, agriculture and infrastructure. Besides production of fuels, the company produces in its wholly owned subsidiaries Polymers (through Carmel Olefins Ltd), Aromatics (through Gadiv Petrochemical Industries Ltd), and Lube-Oils (through Haifa Basic Oils Ltd). The Company's shares are listed on the Tel Aviv Stock Exchange under the ticker ORL. For additional information please visit http://www.orl.co.il.

ORL is controlled by the Israel Corporation Ltd. and Israel Petrochemical Enterprises Ltd., both public companies whose shares are traded on the Tel Aviv Stock Exchange.

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