financetom
Business
financetom
/
Business
/
PBF Energy partially restarts Martinez refinery, posts smaller-than-expected quarterly loss
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
PBF Energy partially restarts Martinez refinery, posts smaller-than-expected quarterly loss
Jul 31, 2025 5:12 AM

July 31 (Reuters) - PBF Energy ( PBF ) said on Thursday

its Martinez refinery was partially operational and expected to

run at a reduced capacity until repairs were completed, with a

full restart of the remaining units planned by the end of 2025.

A fire had broken out at the 156,400-barrel-per-day (bpd)

Martinez refinery on February 1, which had impacted operations.

The refinery has begun producing limited quantities of

gasoline, jet fuel and intermediates, the company said. PBF

Energy ( PBF ) expects total throughput during the period of limited

operations to be in the range of 85,000 to 105,000 bpd.

The company also reported smaller-than-estimated loss for

the second quarter, as margins recovered.

Top U.S. refiners were expected to post higher quarterly

profits, rebounding from the losses in the previous quarter, as

stronger diesel margins lifted earnings.

Larger rivals Valero Energy ( VLO ), Phillips 66 and

HF Sinclair ( DINO ) exceeded Wall Street estimates on the back

of improved refining margins.

PBF Energy's ( PBF ) consolidated gross refining margin, excluding

special items, stood at $8.38 per barrel in the second quarter,

compared with $8.12 per barrel a year ago.

The company's crude oil and feedstocks throughput fell to

839,100 bpd during the reported quarter from 921,300 bpd a year

earlier.

It expects total throughput to be between 865,000 bpd and

915,000 bpd for the current quarter.

PBF lost $1.03 per share on an adjusted basis in the second

quarter, compared with estimates of a $1.10 loss per share,

according to data compiled by LSEG data.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Former CEO of SCWorx Corp convicted of securities fraud scheme related to COVID
Former CEO of SCWorx Corp convicted of securities fraud scheme related to COVID
Jul 10, 2024
WASHINGTON, July 10 (Reuters) - The former CEO of SCWorx Corp ( WORX ), a provider of management software for healthcare providers, was convicted by a federal jury in New Jersey for his role in a scheme to mislead investors about procurement of COVID-19 rapid test kits, the U.S. Justice Department said on Wednesday. The jury convicted Marc Schessel, 64,...
Norfolk Southern agrees to implement derailment probe recommendations
Norfolk Southern agrees to implement derailment probe recommendations
Jul 10, 2024
WASHINGTON (Reuters) - Norfolk Southern said on Wednesday it had agreed to implement a series of safety recommendations made by the National Transportation Safety Board following a February 2023 train derailment in East Palestine, Ohio that spilled toxic chemicals, NTSB Chair Jennifer Homendy and other senior agency officials met in Atlanta on Wednesday with Norfolk Southern CEO Alan Shaw and...
Why Are UniQure Shares Surging Today?
Why Are UniQure Shares Surging Today?
Jul 10, 2024
UniQure N.V. ( QURE ) shares are skyrocketing Wednesday following the release of promising interim data from its Phase I/II clinical trials of AMT-130, a gene therapy targeting Huntington’s disease. What’s Going On: The latest results, which include up to 24 months of follow-up data from 29 patients across the U.S. and Europe, demonstrated a significant slowing of disease progression....
What's Going On With GameStop Shares Wednesday?
What's Going On With GameStop Shares Wednesday?
Jul 10, 2024
Shares of GameStop Corporation ( GME ) have been volatile and are moving higher on Wednesday. Here’s what you need to know. What Happened: GameStop ( GME ), traditionally known as a video game retailer, is making a significant push into the trading card market. The company announced a $25,000 bounty for the one-of-one black parallel Lionel Messi sticker from...
Copyright 2023-2026 - www.financetom.com All Rights Reserved