[9] Construction of the first refinery unit started in 1938 and was carried out by the M. W. Kellogg Co. with assistance from Solel Boneh, with an annual capacity of two million tons of crude oil.

[13][14] Due to concerns about the Arab League Boycott, the British Government sold CRL to the State of Israel in 1958 which then changed its name to Oil Refineries Ltd.[15][16][17] Since then the complex has undergone significant expansion and upgrades.

[37][38] Also in 2019, Bazan won the tender to establish an environmental innovation lab in Haifa Bay together with the Israeli branch of EDF Renewables and Johnson Matthey.

[42] On November 16, 2020, Bazan signed a MOU with the Emirati energy company Mazrui International to import polymers that are not made in Israel.

[51] In 2020, ORL published its first report for Corporate Responsibility since 2011, including its achievements in reducing benzene emissions and facilitating healthier environmental conditions.

[52] In December 2020 BAZAN announced a $3.7 million project to create, compress and transport hydrogen with the ultimate goal of bringing hydrogen-fueled cars to Israel.

[53] In April 2021, a government CEO committee assigned to resolve Haifa's decline, suggested a full closure of Bazan group's facilities within 10 years, is required.

[54] In July 2021, Bazan presented plans to become the leading Israeli supplier of renewable energy and alternative fuels at a conference in Tel Aviv.

The company announced it would make $1.5 billion in capital investments by 2030, and laid out a three-pronged strategy built in accordance with international ESG standards.