Latest news with #Delek
The Journal
08-07-2025
- Business
- The Journal
Irish sovereign wealth fund pumped millions into companies contracted by Israel Defence Forces
IRELAND'S SOVEREIGN WEALTH fund, the Irish Strategic Investment Fund (ISIF), still has holdings in companies with links to Israeli settlements in occupied Palestinian territory. In 2024, then-Minister for Finance Michael McGrath announced that the fund had divested from five companies that are linked to settlement activity that is considered illegal under international law. But the ISIF continues to invest in eight other companies named on a United Nations database - a key document that highlights businesses and parent companies whose subsidiaries enable the continued existence of Israeli settlements. By the end of 2023, the total value of these investments was more than €10 million. As part of a new investigation, The Journal Investigates looked at how much Ireland is investing in these companies and how they are linked to illegal settler activity in Palestine. Many of these investments are in multinationals, but two in particular are in companies that hold contracts with the Israel Defence Forces (IDF): Delek Group and Motorola Solutions Inc. The value of the ISIF's investments in these two companies alone was almost €5 million -roughly the same amount as the State's sovereign wealth fund invested in the other six companies combined. — Investigations like this don't happen without your support… Impactful investigative reporting is powered by people like you. Support The Journal Investigates Advertisement IDF vehicles Out of the eight companies that the ISIF invests in, just one is based solely in Israel: Delek Group, the owner of a chain of petrol stations that was founded in the country in the early 1950s. The ISIF's investment in the company is indirect, which means that it did not directly buy shares or provide capital to Delek, but instead invested in it through an intermediary such as a fund or financial institution that handles investment decisions on Ireland's behalf. As of 2023, the State indirectly invested around €214,000 in Delek, which is best-known in Israel as the operator of a chain of filling stations and convenience stores. A search of Google Maps shows that it operates a handful of these petrol stations in the occupied West Bank, East Jerusalem and the Golan Heights. Google Maps Google Maps However, the company is also linked to the activities of the Israel Defence Forces (IDF): under a contract agreed in 2020, the IDF listed Delek as one of two companies whose petrol stations are allowed to be used by military vehicles to refuel. Delek also reportedly holds other contracts with the Israeli defence industry, according to WhoProfits , an independent group dedicated to 'exposing the role of the private sector in the Israeli occupation economy' through a database. The database has been consulted by the international BDS movement, and WhoProfits has been repeatedly highlighted by the United Nations, including in a report last week by the current Special Rapporteur for Palestine Francesca Albanese. The Journal Investigates contacted Delek Group for comment, but no response was received by the time of publication, and no other recent statements on the company's position about its activities in occupied Palestinian territories could be found. Surveillance systems and checkpoints US-based technology firm Motorola Solutions and its subsidiary, Motorola Solutions Israel, are among just six companies that appear on the UN database for supplying security. The Irish government holds millions in both direct and indirect investments in the parent company. It should not be confused with the telecoms company of the same name, from whom it split in 2011, Motorola Solutions specialises in security products and systems such as video equipment and command centre technology. Sign up The Journal Investigates is dedicated to lifting the lid on how Ireland works. Our newsletter gives you an inside look at how we do this. Sign up here... Sign up .spinner{transform-origin:center;animation:spinner .75s infinite linear}@keyframes spinner{100%{transform:rotate(360deg)}} You are now signed up It holds contracts worth hundreds of millions of Euro with Israel's government and military, and its systems are used extensively throughout the occupied territories, along the separation wall in the West Bank, and at Israeli military bases. The company provides everything from surveillance systems, radar detectors, and mobile communications systems to Israelis living in illegal settlements and the Israel Defence Forces. In a 2012 UN Special Rapporteur for Palestine Richard Falk, named Motorola Solutions Israel as 'sustaining the settlements' and limiting 'the Palestinians' freedom of movement within their territory'. Like Delek Group, the company's activities have also been extensively detailed by WhoProfits. Motorola Solutions has been named as 'the sole supplier of the 4G cellular network for the Israeli military' as well as the sole supplier of Israeli military smartphones after it was given a contract worth $100 million to do so. Human rights groups have also highlighted how the company's MotoEagle Wide Area Surveillance System – which uses radars and cameras to detect movements - has been used as a 'virtual fence system' in dozens of illegal settlements. In addition, Motorola has longstanding contracts with the Israel Prison Service and the country's Population and Immigration Authority – including communications equipment at prisons like Ofer in the West Bank, where Palestinians are held in military detention. As of 2023, the Irish government directly invested around €700,000 and held €3.9 million worth of indirect investments in the company. The Journal Investigates contacted Motorola Solutions for comment, but no response was received by the time of publication. The company has previously told a number of outlets that it supports 'efforts in the region to find a peaceful resolution to the conflict'. The Journal Investigates Reporter: Stephen McDermott • Investigation Editor: Sinead O'Carroll • The Journal Investigates Editor: Maria Delaney • Social Media: Cliodhna Travers • Main Image Design: Lorcan O'Reilly Investigations like this don't happen without your support... Impactful investigative reporting is powered by people like you. Over 5,000 readers have already supported our mission with a monthly or one-off payment. Join them here: Support The Journal
Yahoo
14-05-2025
- Business
- Yahoo
Delek US Holdings, Inc. (DK): One of the Underperforming Stocks Targeted By Short Sellers
We recently published a list of . In this article, we are going to take a look at where Delek US Holdings, Inc. (NYSE:DK) stands against other underperforming stocks targeted by short sellers. Short interest refers to the percentage of publicly available shares that have been sold short. It is an indicator used by many investors to determine how strong a company's bear thesis may be. Due to the nature of short selling, the short interest has become a popular indicator among investors. The reason it is given so much weightage is that people betting against a stock have usually done solid research and are confident of a company's downfall. They take unlimited risk, so when big investors or the smart money shorts a stock, people take notice. They try to unearth the red flags that may have prompted the high short interest. We decided to dig deeper and try to find out where smart money sees trouble ahead. To come up with our list of 20 underperforming stocks targeted by short sellers, we looked at the worst-performing stocks of the last six months and then ranked them by the short interest. A tanker ship at sea with a landscape of oil derricks in the background. Short interest: 14.72% 6 months' performance: -23.47% Delek US Holdings, Inc. (NYSE:DK) operates a downstream energy business. It generates its revenue through the Logistics and Refining segments. The company serves independent refiners, government, oil companies, distributors, independent retail fuel operators, transportation companies, and others. 2024 proved to be a tough year for the company. It reported a 28.18% YoY annual revenue decline accompanied by a 10.5% YoY cash balance decrease. Delek's EBITDA went down by 108.96% YoY, indicating a significant decline. Although DK is focused on increasing cash flows in FY 2025, considering current conditions, it seems a bit challenging for the company. Delek US Holdings, Inc. (NYSE:DK) reiterated its 2025 guidance on the earnings call yesterday. For now, the company is focused on improving cash flows through cost controls and operational improvements. The firm has faced lower production margins per barrel of crude oil over the past few years, mainly in its El Dorado refinery. The company's supply and wholesale segments are also struggling. Due to the decreasing demand trends, these segments generated a loss of approximately $34 million. The firm keeps expanding losses in the supply business, which is putting pressure on profits and encouraging traders to short the stock. Overall, DK ranks 15th on our list of underperforming stocks targeted by short sellers. While we acknowledge the potential of DK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than DK but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
06-02-2025
- Business
- Reuters
US refiner Delek could run more light sweet oil if tariffs bite, CEO says
HOUSTON, Feb 6 (Reuters) - U.S. refiner Delek (DK.N), opens new tab has the option to run more light, sweet crude oil if it is economical to do so, CEO Avigal Soreq said on Thursday, amid tariff uncertainty threatening supplies of heavy sour grades from Canada and Mexico. U.S. President Donald Trump on Saturday announced a 10% tariff on Canadian oil, and a 25% tariff on imports from Mexico, though implementation was put on a month-long pause on Monday after discussions between the countries' leaders. While the U.S. is the world's top oil producer, with output at a record 13.5 million barrels per day of crude, much of it is light in density and not ideal for domestic refineries that are largely configured to refine heavy crudes. "We have knobs to can do whatever is economic," Soreq said on the sidelines of the Argus Global Crude Summit in Houston when asked whether Delek will run more light, sweet crude in its refineries. Soreq also said the company expects Permian Basin oil production growth of 250,000 bpd to 300,000 bpd in 2025 and 2026. The U.S. Energy Information Administration sees total Permian Basin output at 6.61 million bpd in 2025, and at 6.89 million bpd in 2026, compared with 6.31 million in 2024. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.
