Israel Petrochemical Enterprises Ltd. is an Israel-based holding company. The Company operates through its subsidiary, Carmel Olefins (COL), a petrochemical company that manufactures and markets ethylene, polyethylene and polypropylene, the main raw materials that COL supplies to Israel's plastics and resin processing industry. It exports its products to Europe, the Middle East and Africa. In addition, COL, through its subsidiary Avgol Industries (1953) Ltd., manufactures and supplies nonwoven fabrics for uses in hygiene, textile, industry and agriculture sectors. The Company also invests through its subsidiary, Oil Refineries Ltd., in the exploration of natural gas. It acts as a consortium partner of local and international companies in gas exploration in territorial waters off the coast of Israel, licensed by the State of Israel.