PBF Energy
Parsippany, New Jersey , U.S. | |
Key people |
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Revenue | 46,830,300,000 United States dollar (2022) ![]() |
4,153,200,000 United States dollar (2022) ![]() | |
2,876,800,000 United States dollar (2022) ![]() | |
Number of employees | 3,776 (2024) |
Website | pbfenergy |
![](http://upload.wikimedia.org/wikipedia/commons/thumb/3/3b/Martinez_refinery.jpg/220px-Martinez_refinery.jpg)
PBF Energy Inc. is a petroleum
In February 2020, with the acquisition of the Martinez Refinery, PBF Energy currently owns and operates six domestic oil refineries and related assets with a combined processing capacity, known as throughput, of approximately 1,000,000 bpd, and a weighted average Nelson Complexity Index of 13.2. [4]
On November 30, 2022, PBF Energy acquired of the common units representing limited partner interests in PBF Logistics.[5]
History and acquisitions
PBF was formed in 2008 as a joint venture by
In 2015 PBF acquired the 189,000 BPD
In July 2016, PBF acquired the 155,000 BPD ExxonMobil refinery in Torrance, California for $537.5M. The acquisition included ownership interests in several crude gathering and transportation pipelines, product pipelines, products terminals and crude and products storage facilities, and increased PBF's total throughput capacity to approximately 900,000 barrels per day, making it the fourth largest independent refiner in North America.[12]
PBF's refineries in Paulsboro (NJ) and Delaware City (DE) have been cited by environmentalists for processing crude oil from the Amazon River Basin in South America. In 2015, the Delaware City and Paulsboro refineries were processing more than 3,300 and 2,666 barrels per day of crude originating in the Amazon, respectively.[13] The company had 3,165 employees as of 2017 with annual revenue of $21,787 million.[14]
In June 2019, PBF agreed to purchase Shell's Martinez, California oil refinery.[15] The sale was finalized Feb. 1, 2020. [16]
Refineries
As of October 2023, PBF owns and operates six oil refineries, with a combined processing capacity (known as throughput) of approximately 1,000,000 bpd and a weighted average Nelson Complexity Index of 13.2.[17]
Refinery Name | Throughput Capacity (bpd) | Crude Processed | Source | Nelson complexity index |
---|---|---|---|---|
Delaware City Refinery | 180,000 | light sweet through heavy sour | water, rail | 13.6 |
Paulsboro Refinery | 155,000 | light sweet through heavy sour | water | 8.8 |
Toledo Refinery | 180,000 | light sweet | pipeline, truck, rail | 11.0 |
Chalmette Refinery | 185,000 | light sweet through heavy sour | water, pipeline | 13.0 |
Torrance Refinery | 166,000 | medium and heavy | water, pipeline, truck | 13.8 |
Martinez Refinery | 157,000 | medium and heavy | water, pipeline | 16.1 |
References
- ^ "PBF Energy". The New York Times. Retrieved 2013-08-21.
- ^ "PBF Energy". Hot Stock Marker. Retrieved 2013-08-21.
- ^ "PBF Energy (PBF)". Forbes.
- ^ "About Us - PBF Energy". 2019-05-07. Retrieved 2022-12-15.
- ^ "PBF Energy Completes Acquisition of PBF Logistics". Retrieved 15 October 2023.
- ^ "Petroplus Announces Formation of Growth Vehicle for U.S. Refinery Acquisitions". First Reserve. 27 February 2008. Archived from the original on 8 August 2014.
- ^ Dealbook (27 September 2010). "Petroplus to Exit PBF Energy Venture". The New York Times.
- ^ "PBF to Acquire Valero Energy Refinery in Paulsboro, N.J." Noria News Wires. 27 September 2010. Archived from the original on 25 November 2010. Retrieved 30 July 2014.
- ^ Buhayar, Noah (2 December 2010). "PBF Energy Agrees to Buy Sunoco's Toledo Refinery". Bloomberg.
- ^ "PBF Energy Prices Initial Public Offering". First Reserve. 13 December 2012. Archived from the original on 1 July 2015. Retrieved 30 July 2014.
- ^ "N.J. Energy Company to buy Oil Refinery for $322M". Associated Press. 19 June 2015.
- ^ "PBF Energy Completes Acquisition of the Torrance Refinery and Related Logistics Assets". 1 July 2016. Retrieved 2017-02-10.
- ^ From Well to Wheel: The Social, Environmental, and Climate Costs of Amazon Crude (PDF). Amazon Watch. 2016. p. 7. Retrieved April 9, 2018.
- ^ "PBF Energy". Fortune. Retrieved 2018-11-18.
- ^ ""PBF Energy to buy Shell's Martinez, California oil refinery for up to $1 billion"". Reuters. 11 June 2019. Retrieved 2022-07-28.
- ^ "PBF Energy Completes Acquisition of Martinez Refinery, Creates West Coast System". investors.pbfenergy.com. Retrieved 2022-12-15.
- ^ "PBF Energy: About Us". Retrieved 14 October 2023.