Oil Refineries reports improved results in third-quarter 2012

Oil Refineries (Haifa, Israel), Israel's largest integrated refining and petrochemical company, says net losses decreased 45% in the third quarter of 2012, to $21 million compared with $38 million in the prior-year period. Ebitda more than doubled in the third quarter of 2012, to $61 million compared with $21 in the third quarter of 2011. Sales, however, fell almost 13% in third-quarter 2012, to $2.39 billion compared with $2.74 billion in the corresponding period of 2011. The company recorded improved performance in most of its sectors, especially in the fuels...

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