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.