Oil Refineries Ltd. (TASE:ORL) announces a share repurchase program. Under the program, the company will repurchase up to $20 million worth of its shares. The purpose of the program is to avail investment opportunities.

The shares repurchased will be used for the purpose of implementing the employee option plan. The repurchase program will be financed from its own resources. The program is valid till May 20, 2024.