Last 130,700
Change Today +5,700 / 4.56%
Volume 36.3K
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As of 10:24 AM 08/27/14 All times are local (Market data is delayed by at least 15 minutes).

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delek group ltd (DLEKG) Details

Delek Group Ltd., an integrated energy company, is engaged in the exploration and production of natural gas in the Eastern Mediterranean’s Levant Basin. The company operates through eight segments: Energy; Fuel Products in Israel; Fuel Products in Europe; Motorway Service Areas in the UK; Insurance and Finance in Israel; Insurance in the USA; Refining and Fuel Products in the USA; and Automotive. It projects are primarily located in Tamar and Leviathan. The company and its partners are developing a portfolio of exploration, development, and production assets with total gross natural gas resources of approximately 38 TCF. It also sells fuels and lubricants; and operates gas stations with on-site convenience stores in Israel, Benelux, France, and the United States, as well as fuel storage and distribution services in Israel. In addition, the company is involved in the provision of motorway services, including sale of retail products, restaurants, and hotels, as well as fuel sales in motorway service areas in the United Kingdom; and various insurance and long term savings operations in the finance industry in Israel and the United States, as well as holds oil refineries and crude oil pipelines in the United States. Further, it imports, markets, and sells Mazda, Ford, and BMW vehicles, accessories, and spare parts in Israel; and is engaged in the biochemical and water desalination operations. Delek Group Ltd. was founded in 1951 and is headquartered in Netanya, Israel.

Founded in 1951

delek group ltd (DLEKG) Top Compensated Officers

Chief Executive Officer and President
Total Annual Compensation: 3.0M
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: 1.9M
Chief Executive Officer of Phoenix Insurance ...
Total Annual Compensation: 8.4M
Chief Executive Officer of Delek Europe B.V.
Total Annual Compensation: 2.9M
Executive Vice President, Chief General Couns...
Total Annual Compensation: 1.6M
Compensation as of Fiscal Year 2013.

delek group ltd (DLEKG) Key Developments

Karish And Tanin Gas Fields May Be Sold

Delek Group Ltd.'s (TASE: DLEKG) units, Delek Drilling - Limited Partnership (TASE:DEDR.L) and Avner Oil Exploration - Limited Partnership (TASE:AVNR.L), reported on August 12, 2014 that the Energy Ministry Petroleum Commissioner had declared Tanin and Karish gas fields proven discoveries. This approval is critical in order to push forward with the sale of the fields to a third party as part of a compromise deal between the Antitrust Authority regulator and the gas partnerships. Delek Group and Noble Energy Inc. (NYSE: NBL) are committed to selling Karish, Tanin and a part of Leviathan to another market player to avoid being declared a monopoly in the Israeli market. Noble Energy holds 47% of Karish and Tanin and Delek Group's units hold 53%.

CNOOC Reportedly In Talks With Delek And Noble Energy To Acquire Stake In Aphrodite

CNOOC Ltd. (SEHK:883) is holding talks to acquire 30% - 40% of the Aphrodite gas field in Cyprus, Globes reported, citing unnamed sources. CNOOC to buy stake from Delek Group Ltd. (TASE:DLEKG) and Avner Oil Exploration - Limited Partnership (TASE:AVNR.L), sources inform Globes. "Globes" also reported that Woodside Petroleum Ltd. (ASX: WPL) is also interested in becoming a partner in the Cypriot field for similar reasons but CNOOC has a better chance of concluding a deal. CNOOC was also interested in becoming a partner in the Leviathan field and sent representatives to Israel several times for talks.

Delek Group Ltd. Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Reports Accounting Write-Downs for the First Quarter of 2014

Delek Group Ltd. announced consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported revenues were ILS 8,939 million compared to ILS 9,118 million for the same period a year ago. Operating profit was ILS 375 million compared to ILS 463 million for the same period a year ago, was mainly due to a reduction in the operating profit from the insurance segment in Israel which was partially offset by an increased operational profit in the E&P sector. Profit after financing was ILS 142 million compared to ILS 184 million for the same period a year ago. Loss before income tax was ILS 45 million compared to profit before income tax of ILS 323 million for the same period a year ago. Loss from continuing operations was ILS 72 million compared to profit from continuing operations of ILS 182 million for the same period a year ago. Loss attributable to company shareholders was ILS 195 million compared to profit attributable to company shareholders of ILS 56 million for the same period a year ago. The reduction was due to the write-downs to the values of various holdings on the balance sheet, which the company intends to or is forced to divest of in the near future. Net profit attributable to company shareholders before accounting write-downs was ILS 111 million. The company reported accounting write-downs for the first quarter of 2014. For the period, the company reported net impairment of the investment in Delek USA of ILS 176 million, impairment of goodwill in The Phoenix of ILS 50 million and impairment of goodwill in Republic of ILS 60 million and others write-downs of ILS 20 million.


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