financetom
Business
financetom
/
Business
/
PBF Energy's Martinez refinery repairs to cost $30 million
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
PBF Energy's Martinez refinery repairs to cost $30 million
Mar 6, 2025 4:09 AM

March 6 (Reuters) - Independent U.S. refiner PBF Energy ( PBF )

said on Thursday it is starting repairs at its

fire-damaged 156,400-barrel-per-day (bpd) Martinez refinery in

California and estimates the cost of repairs to be $30 million.

The fire broke out on February 1 near a cat feed

hydrotreater, which uses hydrogen to remove sulfur from gas oil

used to make unfinished gasoline, company executives said during

its fourth-quarter earnings call.

The shutdown would impact production in the first

quarter, they had said.

The company said it expects certain units, including the

crude unit, to restart early in the second quarter of 2025, with

the remaining units restarting by the fourth quarter.

Total throughput during the first stage is expected to

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

PBF expects the costs to be largely covered by

insurance, and its business interruption insurance should offset

the financial loss resulting from the downtime.

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 >
Walmart to pay $7.5 mln to resolve California hazardous waste charges
Walmart to pay $7.5 mln to resolve California hazardous waste charges
Oct 22, 2024
Oct 22 (Reuters) - Walmart ( WMT ) has agreed to pay $7.5 million to resolve civil charges that the largest U.S. retailer illegally disposed hazardous waste and medical waste from its facilities in California municipal landfills. The settlement was announced on Tuesday by California Attorney General Rob Bonta. He said the settlement followed more than 70 waste audits between...
Tokyo exchange employee under probe for alleged insider trading, Nikkei reports
Tokyo exchange employee under probe for alleged insider trading, Nikkei reports
Oct 22, 2024
(Reuters) - A Tokyo Stock Exchange employee is currently under investigation by the country's financial watchdog for suspected insider trading, the Nikkei reported on Wednesday, citing sources. The Securities and Exchange Surveillance Commission is investigating the employee, who allegedly bought and sold stocks based on undisclosed corporate information, according to Nikkei sources. The probe began around September. According to the...
Market Chatter: Amgen to Launch Biosimilar of Eylea After Court Denies Regeneron's Stay Request
Market Chatter: Amgen to Launch Biosimilar of Eylea After Court Denies Regeneron's Stay Request
Oct 22, 2024
03:51 PM EDT, 10/22/2024 (MT Newswires) -- Amgen ( AMGN ) will launch a biosimilar version of Regeneron's (REGN) Eylea after a US appeals court gave a decision in its favor on Tuesday, Reuters reported citing Amgen's ( AMGN ) spokesperson. The US Court of Appeals for the Federal Circuit denied Regeneron's request to hold the launch of the biosimilar...
NextEra Energy Poised for 'Healthy' Q3 Earnings Growth, RBC Says
NextEra Energy Poised for 'Healthy' Q3 Earnings Growth, RBC Says
Oct 22, 2024
03:31 PM EDT, 10/22/2024 (MT Newswires) -- NextEra Energy (NEE) is expected to report healthy Q3 earnings growth, while its NextEra Energy Partners ( NEP ) unit is likely to post flat EBITDA in Q3, RBC Capital Markets said in a note Tuesday. Both companies are scheduled to release Q3 results on Wednesday. The spotlight will be on future growth...
Copyright 2023-2026 - www.financetom.com All Rights Reserved