Sonol – 100 Years of Energy
It may be hard to believe, but Sonol has been leading the Israeli energy sector for 100 years. Founded in 1917, as World War I was nearing its end, the company (then called Socony-Vacuum) soon gained reputation as Palestine's most innovative fuel supplier. It was the first company in the country to use mechanical gas-pumps in 1924, and by the end of the 1940s, it was already working with electric pumps.
In 1958, in response to pressure generated by the Arab boycott, the Mobile Oil company has stopped doing business in Israel and sold its holdings in the country to the American Sonneborn family. The company's name combines the family's name with its former title – Sonol, standing for Son-oil.
1981: Sonol is Part of a Major Acquisition Deal
In 1981, Sonol was purchased by Granite Hacarmel Investments Ltd., in one of the largest acquisition deals of the era. Granite, one of Israel's largest holding companies, also owns Supergas (one of Israel's major gas companies), and other companies that deal in real-estate, energy, tourism, communication, infrastructure, etc. Granite became a public company in 1992. Its shareholders were ANM Borowitz, B.V OCVRESUR. (which belongs to the international Glencore company), Ample Holdings, Mr. Yeshayahu Landau and the public.
2006: Sonol at the Age of Azrieli
Toward the end of 2006, Kniyat HaShalom Investments Ltd., which is a part of the Azrieli Group, has purchased 64% of Granite Hacarmel's stocks from Glencore, Borowitz, and Mr. Yeshayahu Landau, and later became 100% of Granite Hacarmel's stock holder.
2016: Israel Oil and Gas Fund LP Owned by David Wiessman
In July 2016, the Israel Oil and Gas Fund LP has purchased full ownership of Sonol, and today holds 100% of the company's stocks.
As an advanced and innovative company, Sonol is going through a wide range of changes, with a new agenda of excellence, innovative products, exceptional services, and a customer-focused worldview.