PBF Energy Inc. is a petroleum refiner and supplier ( Downstream operator) of unbranded transportation fuels, heating oils, lubricants, petrochemical feedstocks, and other petroleum products. Headquartered in Parsippany, New Jersey, the company's refineries include facilities in

Chalmette, Louisiana Chalmette ( ) is a census-designated place (CDP) in, and the parish seat of, St. Bernard Parish in southeastern Louisiana, United States. The 2010 census reported that Chalmette had 16,751 people; 2011 population was listed as 17,119; however, t ...

;

Toledo, Ohio Toledo ( ) is a city in and the county seat of Lucas County, Ohio, United States. A major Midwestern United States port city, Toledo is the fourth-most populous city in the state of Ohio, after Columbus, Cleveland, and Cincinnati, and according ...

;

Port of Paulsboro The Port of Paulsboro is located on the Delaware River and Mantua Creek in and around Paulsboro, in Gloucester County, New Jersey, approximately from the Atlantic Ocean. Traditionally one of the nation's busiest for marine transfer operations, ...

Gibbstown, New Jersey Gibbstown is an unincorporated community and census-designated place (CDP) located within Greenwich Township, in Gloucester County, New Jersey. As of the 2010 U.S. census, the CDP's population was 3,739.Delaware City Refinery The Delaware City Refinery, currently owned by Delaware City Refining Corporation, a subsidiary of PBF Energy, is an oil refinery in Delaware City, Delaware. When operational it has a total throughput capacity of , and employs around 570 individu ...

Delaware City Delaware City is a city in New Castle County, Delaware, United States. The population was 1,695 at the 2010 census. It is a small port town on the eastern terminus of the Chesapeake and Delaware Canal and is the location of the Forts Ferry Cross ...

; the former

ExxonMobil ExxonMobil Corporation (commonly shortened to Exxon) is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller's Standard Oil, and was formed on November 30, ...

refinery in

Torrance, California Torrance is a city in the Los Angeles metropolitan area located in Los Angeles County, California, Los Angeles County, California, United States. The city is part of what is known as the South Bay (Los Angeles County), South Bay region of the m ...

; and the former Shell refinery in Martinez, California. PBF produces a range of products including gasoline, ultra-low-sulfur diesel (ULSD), heating oil, jet fuel, lubricants, petrochemicals and asphalt. 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 The Nelson complexity index (NCI) is a measure to compare the secondary conversion capacity of a petroleum refinery with the primary distillation capacity. The index provides an easy metric for quantifying and ranking the complexity of various re ...

of 13.2.

History and acquisitions

PBF was formed in 2008 as a joint venture by Petroplus Holdings and the private equity companies

Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate b ...

and

First Reserve First Reserve Corporation is a private equity firm specializing in leveraged buyouts and growth capital investments in the energy industry, energy sector. First Reserve was founded in 1984 and is the oldest and largest private equity fund dedicat ...

, each committing $667 million in equity. In September 2010 Petroplus announced plans to sell its 32.62 percent stake to its partners for $91 million as PBF acquired the Paulsboro refinery from

Valero Energy Valero Energy Corporation is a Fortune 500 international manufacturer and marketer of transportation fuels, other petrochemical products, and power. It is headquartered in San Antonio, Texas, United States. Throughout the United States and Can ...

. PBF then acquired the Toledo refinery from

Sunoco Sunoco LP is an American master limited partnership organized under Delaware state laws and headquartered in Dallas, Texas, that is a wholesale distributor of motor fuels. It distributes fuel to more than 5,500 Sunoco-branded gas stations, ...

in December 2010 for approximately $400 million. PBF went public in December 2012 with a $533 million initial public offering. In 2015 PBF acquired the 189,000 BPD

refinery from

and its partner, the state-owned

Petroleos de Venezuela Petróleos de Venezuela, S.A. (PDVSA, ) (English: Petroleum of Venezuela) is the Venezuelan state-owned oil and natural gas company. It has activities in exploration, production, refining and exporting oil as well as exploration and production ...

, for $322 million, in a deal that included interests in chemical facilities, pipelines and other assets at the site located just ten minutes from downtown New Orleans. In July 2016, PBF acquired the 155,000 BPD ExxonMobil refinery in

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. 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. The company had 3,165 employees as of 2017 with annual revenue of $21,787 million. In June 2019, PBF agreed to purchase Shell's Martinez, California oil refinery. The sale was finalized Feb. 1, 2020.

References

External links

* {{Authority control Oil companies of the United States Companies based in Morris County, New Jersey Energy in New Jersey 2012 initial public offerings Companies listed on the New York Stock Exchange