Company type | Public company |
---|---|
| |
Industry | Downstream (petroleum industry) |
Founded | 2008 |
Headquarters | , U.S. |
Key people |
|
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 |
PBF Energy Inc. is a petroleum refining and logistics company that produces and sells transportation fuels, heating oils, lubricants, petrochemical feedstocks, and other petroleum products. The company owns and operated 6 refineries throughout the United States, located in Chalmette, Louisiana; Toledo, Ohio; Paulsboro, New Jersey; the Delaware City Refinery in Delaware City; Torrance, California; Martinez, California. PBF produces a range of products including gasoline, ultra-low-sulfur diesel (ULSD), heating oil, jet fuel, lubricants, petrochemicals and asphalt. [1] [2] [3]
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]
PBF was formed in 2008 as a joint venture by Petroplus Holdings and the private equity companies Blackstone Group and First Reserve (the PBF in PBF Energy stands for Petroplus, Blackstone, and First Reserve), each committing $667 million in equity. [6] 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. [7] [8] PBF then acquired the Toledo refinery from Sunoco in December 2010 for approximately $400 million. [9] PBF went public in December 2012 with a $533 million initial public offering. [10]
In 2015 PBF acquired the 189,000 BPD Chalmette, Louisiana refinery from ExxonMobil and its partner, the state-owned Petroleos de Venezuela, 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. [11]
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]
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 |
Sunoco LP is an American master limited partnership organized under Delaware state law and headquartered in Dallas, Texas. Dating back to 1886, the company has transitioned from a vertically integrated energy company to a distributor of fuels and operator of energy infrastructure. It was previously engaged in oil, natural gas exploration and production, refining, chemical manufacturing, and retail fuel sales, but divested these businesses.
Valero Energy Corporation is an American-based fuels producer mostly involved in manufacturing and marketing transportation fuels and other related products. It is headquartered in San Antonio, Texas, United States. Throughout the United States, Canada, and the U.K., the company owns and operates 15 refineries with a combined throughput capacity of approximately 3.2 million barrels per day, two renewable diesel plants that produce approximately 1.2 billion gallons per year, and 12 ethanol plants with a combined production capacity of 1.6 billion gallons as its subsidiaries.
Tesoro Corporation, known briefly as Andeavor, was a Fortune 100 and a Fortune Global 500 company headquartered in San Antonio, Texas, with 2017 annual revenues of $35 billion, and over 14,000 employees worldwide. Based on 2017 revenue, the company ranked No. 90 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.
Husky Energy Inc. was a Canadian company engaged in hydrocarbon exploration, headquartered in Calgary, Alberta, Canada. It operated in Western and Atlantic Canada, the United States and the Asia Pacific region, with upstream and downstream business segments. In the 2020 Forbes Global 2000, Husky Energy was ranked as the 1443rd-largest public company in the world.
Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011.
Energy Transfer LP is an American company engaged in the pipeline transportation, storage, and terminaling for natural gas, crude oil, NGLs, refined products and liquid natural gas. It is organized under Delaware state laws and headquartered in Dallas, Texas. It was founded in 1996 by Ray Davis and Kelcy Warren, who remains Executive Chairman.
Delek US Holdings, Inc. is a diversified downstream energy company with assets in petroleum refining, logistics, asphalt, renewable fuels and convenience store retailing headquartered in Brentwood, Tennessee.
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 210,000 barrels per day (33,000 m3/d), and employs around 570 individuals.
Coryton Refinery was an oil refinery in Essex, England, on the estuary of the River Thames 28 miles (45 km) from central London, between Shell Haven Creek and Hole Haven Creek, which separates Canvey Island from the mainland.
NuStar Energy L.P. is a subsidiary of Sunoco LP, and formerly was a publicly traded master limited partnership. The company is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar owns 8,700 miles of pipeline and 79 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids.
Western Refining, Inc., is a Texas-based Fortune 200 and Global 2000 crude oil refiner and marketer operating primarily in the Southwestern, North-Central and Mid-Atlantic regions of the United States. Western Refining (WNR) has been publicly traded on the New York Stock Exchange since January 2006 and is the fourth largest publicly traded independent refiner and marketer in the nation.
Coastal Corporation was a diversified energy and petroleum products company headquartered at 9 Greenway Plaza in Greenway Plaza, Houston, Texas. The company was founded in 1955 by Oscar Wyatt and incorporated in 1955 as Coastal States Gas Producing Company. It merged with the El Paso Corporation in 2001. As of 1999, Coastal was a Fortune 500 company with 13,300 employees and annual revenues of $8.2 billion.
The Port of Paulsboro is located on the Delaware River and Mantua Creek in and around Paulsboro, in Gloucester County, New Jersey, approximately 78 miles (126 km) from the Atlantic Ocean. Traditionally one of the nation's busiest for marine transfer operations, notably for crude oil and petroleum products, such as jet fuel and asphalt, it is a port of entry with several facilities within a foreign trade zone.
Trainer Refinery is an oil refining facility located in Trainer, Pennsylvania. The facility is downstream from the Port of Chester and fifteen miles southwest of Philadelphia along the Delaware River. Stoney Creek is along its northern perimeter. The Trainer Refinery is owned by Monroe Energy, LLC, a subsidiary of Delta Air Lines. Monroe Energy acquired the facility in June 2012. Since that time, the refinery has focused on producing jet fuel, gasoline, diesel, and home heating oil.
Indian Oil Corporation Limited, trading as IndianOil, is an Indian multinational oil and gas company under the ownership of Government of India and administrative control of the Ministry of Petroleum and Natural Gas. It is a public sector undertaking which is registered in Mumbai but headquartered in New Delhi. It is the largest government-owned oil producer in the country both in terms of capacity and revenue. It has consolidated refining capacity of 80.55MMTPA.
Uzi Yemin is an Israeli-American entrepreneur, industrialist and philanthropist best known as the founder and Executive Chairman of Delek US.
The Suncor Sarnia Refinery is an 85,000 bpd cracking plant located in the "Chemical Valley" section of Sarnia, Ontario, Canada alongside the St. Clair River. The refinery has been in continuous operation since 1952 and supplies petroleum products to the southern Ontario region including Toronto and its suburbs via the Sun-Canadian Pipeline. The refinery has roughly 500 employees and contractors who work onsite.
Philip "Phil" L. Rinaldi is the founder and former CEO of Philadelphia Energy Solutions, the largest oil refinery located on the US East Coast, and the founder of Coffeyville Resources. In addition, he has been the CEO of Seminole Fertilizers, Mulberry Resources, National Zinc, and was a senior vice president for Tosco. He is a serial entrepreneur in oil refining and started with fellow serial entrepreneur Thomas O'Malley at Phibro in the 1980s, together they launched the largest merchant refining company in the world in the 1980s–1990s in TOSCO. Later, Rinaldi was the key player behind the purchase of the former Sunoco Philadelphia Refinery, the largest oil company in the US East Coast, and worked directly with the Obama administration to complete the transaction. He was dubbed "Fossil Phil" by the media for his push to make Philadelphia a large integrated energy hub to process and export oil and gas produced in the Marcellus and Bakken regions.