Oil Refineries Schedules Third Quarter 2011 Earnings Release for November 21, 2011

HAIFA, Israel, November 17, 2011 -

Conference Call Scheduled for November 21, 2011 at 14:00 UK Time, 9:00 EST

Oil Refineries Ltd. (TASE: ORL.TA) (the “Company”), Israel’s largest oil refiner, announced today that it will be releasing its financial results for the third quarter 2011 on Monday, November 21, 2011.

The Company will be hosting a conference call the same day, Monday, November 21, 2011, at 14:00 GMT (9:00 EST, 16:00 Israel time). On the call, management will review and discuss the third quarter 2011 financial results and will be available to answer questions.

To participate, please call one of the following teleconferencing numbers.  Please begin placing your calls at least 10 minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please try the international dial-in number.

US Dial-in Numbers:         1-888-668-9141
UK Dial-in Number:         0-800-917-5108
Israel Dial-in Number:         03-918-0609
International Dial-in Number:    +972-3-918-0609

at: 14:00 UK Time, 9:00 ET, 6:00 PT, 16:00 Israel time.  A replay of the call will be available after the call on the Company’s website at www.orl.co.il.

The conference call will be accompanied by a presentation available for download from the Company’s website, www.orl.co.il, under investor relations.

Oil Refineries’ third quarter 2011 earnings press release and financial statements will be available on the Company’s website - www.orl.co.il on November 21, 2011.

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. The Company’s petrochemical sector produces Polymers (through its ownership of Carmel Olefins Ltd), Aromatics (through its ownership of Gadiv Petrochemical Industries Ltd), and Lube-Oils (through its ownership of 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 www.orl.co.il.

Company Contact:
Rony Solonicof
Chief Economist and Head of Investor Relations
Tel. +972-4-878-8152
Contact IREn@orl.co.il

Investor Relations Contact:
Ehud Helft / Porat Saar
CCG Israel
Tel. (US) +1-646-233-2161 / (Int.) +972-52-776-3687
info@ccgisrael.com

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