05.07.2009
Planning, implementation, and evaluation of utility-sponsored programs to influence the amount or timing of customers’ energy use.
Typically defined as the flange connecting the loading line of an LNG tanker with the LNG metering equipment at the seller’s facility (in an FOB contract), or at the buyer’s facility (in a delivered, or ex-ship, contract)
Often regarded as synonymous with cost, insurance, and freight in the international cargo trade, its terms differ from the latter in a number of ways. Generally, the seller’s risks are greater in a delivered transaction because the buyer pays on the basis of landed quality/quantity. Risk and title are borne by the seller until such time as the commodity, such as oil, passes from shipboard into the connecting flange of the buyer’s shore installation. The seller is responsible for clearance through customs and payment of all duties. Any in-transit contamination or loss of cargo is the seller’s liability. In delivered transactions, the buyer pays only for the quantity of oil actually received in storage
Delek Infrastructure is held 100% indirectly by Delek Group. Delek Group fully owns the Independent Power Production (IPP) plant that services the Ashkelon water desalination facility (controlled 50% by IDE Tech.), which is sourced with natural gas from the Yam Tethys reserve. The Combined Cycle cogeneration power plant with a capacity of around 87 MW, provides a majority of its capacity to the desalination plant and the rest is sold to private customers and/or the Israel Electricity Company. Delek Infrastructure also holds 57% of IPP Ramat Gabriel Ltd. and IPP Alon Tabor Ltd. IPP Ramat Gabriel Ltd is developing a cogeneration Power Station to provide approximately 50 MW of electricity and steam to the factories in the Industrial Area of Ramat Gabriel. IPP Alon Tavor Ltd. is also developing a cogeneration Power Station to provide approximately 50 MW of electricity and steam to the factories in the Industrial Area of Alon Tavor (Northern Israel). Delek Infrastructure also holds 51% of Genrent Participation S/A, a holding company investing in power generation projects in Brazil and is in the process of building additional independent power plants in Israel for private clients. Genrent Participation owns 70% of the Brentech Company who owns the Goyania ii Emergency Diesel Generators Power Station in Brazil with a capacity of around 140 MW. In April 2009, Delek Infrastructure (57%) with partners Sigma-Epsilon (43%) owned by Dr. Eli Barnea and Moshe Lasri and Edi Energy owned by former Delek Infrastructure CEO Koby Katz, received a license from the MNI to set up another 60 MW cogeneration plant in Migdal Ha’Emek. In July 2009, The heads of Delek Group its subsidiary Delek Infrastructure Ltd. and Tnuva signed an agreement to build and operate a private CCGT power plant, which will provide electricity and steam for Tnuva’s factory in Alon Tavor. Delek unit IPP Delek Alon Tavor will build a 55 megawatt cogeneration power plant for Tnuva’s Alon Tavor dairy. The plant will buy gas from Delek Energy. The agreement sets out that the operating period will be 27 years from the date that financial arrangements have been agreed, and not later than April 2011. Construction of the power plant is expected to be completed by the end of 2012 at an estimated cost of construction for Delek Group to be $63 million.
The Delek Group is one of the largest and most dynamic investment groups based in Israel, whose diverse activities include Israel’s second largest petroleum company, a major car importer (Mazda and Ford), one of Israel’s biggest real estate companies and petroleum activity in the U.S.A. The Group is a holding and management company with a diverse operational spectrum investing in Israel and abroad. The Group is a market leader in all its chosen diversified fields of operation: energy exploration and marketing, real estate, motor vehicle importing, finance and insurance services, biochemicals and media. Delek Group owns and operates 228 petrol stations. Yitzhak Tshuva has a 62 percent majority share in Delek Group with the balance held by the public. In 2007 Delek Group (Delek Israel – Delek Group owns 79.2% of Delek Israel) won the tender for the purchase of Pi-Glilot at the relatively high price tag of 800 million shekels, rendering Delek the 3rd largest player in the country’s energy industry. This will enable the company to decrease its dependency on one of the oil refineries by being able to import greater quantities of fuel at lower prices and compete against the other fuel companies such as Paz and Alon. The Pi-Glilot tankers have a capacity to store 600,000 kiloliters of fuel or 40% of the market’s overall capacity. In addition, at a relatively low cost Delek could increase Pi-Glilot’s Ashdod storage capacity and thus represent a real competition for all other fuel companies to the Ashdod Oil Refinery that was bought by Paz. Delek Group subsidiary Delek Energy Systems has acquired full ownership of US energy company Elk Resources Inc. for $95 million. Elk will serve as its administrative and operations platform to expand oil and gas exploration and production in the US. The company plans to invest $100 million in 2008-10 to develop Elk’s proven undeveloped oil and gas reserves. 11th Feb – Delek Energy completed the purchase of Elk Resources at a total cost of $95.5 million. Delek intends developing Elk’s oil and gas resources. In September 2009 Tshuva sold 147,200 shares from Delek Group for 93.4 million shekels. He thus remains with 7,388,543 shares worth about 62.77%.
On 29th December 2009, Delek Group bought NIS 15 million of units in the Delek Drilling and Avner Oil and Gas limited partnerships. Delek Group now owns 12.94% of Avner, and 6.79% of Delek Drilling. In March 2010, Delek Group increased its holdings in Avner by buying 2.1 million participation units in Avner for 1.53 shekel per unit thus for a total of 3.2 million shekels thus Delek increased its hold in Avner to 13.25%.
Delek Drilling is a limited partnership dealing in oil and gas exploration and production. Overseas operations are carried out by subsidiaries of Delek Energy Systems (DES) which concentrate mainly on the following areas of operations: (1) Delek Energy (Vietnam) focuses on oil and gas exploration in Vietnam (in July 2009 Delek Drilling sold its equity in its W12 Block in Vietnam to its partners Premier Oil; (2) On February 11, 2008, DES closed the acquisition of 100% of the capital of Elk Resources, which is a private company registered in the U.S., which produces and sells oil and gas, develops existing oil and gas assets and engages in low-risk oil and gas exploration; (3) DES owns 83.49% of the rights in AriesOne; (4) 29.14% of the capital of Matra Petroleum which owns the Sokolovskoe oil discovery in Russia; (5) 25.12% of the capital of Viking Oil and Gas International Ltd. (“VOGIL”), a private company which owns two oil tankers. Delek International also holds 1.45% of the issued and paid up capital of Nexus Energy a public company for oil and gas exploration and production in Australia. It should be noted that a wholly-owned subsidiary of VOGIL holds another approximately 13% of the shares of Nexus. Delek Energy (CEO Gideon Tadmor) holds directly 49.8% of Delek Drilling and 38.1% of Avner. In December 2009, the Pisgot Investment House became a stakeholder in Delek Energy after it purchased 259 thousand shares at a price of 913.5 shekels a share so that they increased their holding in Delek Energy to 5.17%
A measurement of the force of a fluid per unit area (measured in pounds per square inch) subtracted from a higher measurement of fluid force per unit area. This comparison could be made for instance between the pressures outside and inside a pipeline, in a pressure vessel, before and after an obstruction in a flow path or between two points along any fluid path, such as two points along the inside of a pipe or across a packer. It could also be the change in force per unit area between the reservoir pore pressure and the wellbore fluid pressure. If this measurement becomes negative in value (i.e. the reservoir pressure is greater than the wellbore fluid pressure) then a flow of reservoir fluids into the wellbore can result