Maintenance of PBF Energy’s 166,200 b/d Torrance and 157,000 b/d Martinez refineries in California is expected to be completed this month, Chief Executive Officer Matt Lucey said on Thursday.
“Looking ahead to the fourth quarter, we are in the midst of planned maintenance at Torrance on the FCC and the alkylation units. And we are doing additional work on the Martinez flexicoker,” Lucey told analysts in a call to discuss the company’s third-quarter financial results.
Lucey said the flexicoker work at Martinez was unplanned and the downtime due to maintenance work for both Torrance and Martinez should impact PBF’s Q4 capture rate, a measure of a refiner’s margins compared with an industry benchmark.
Lucey said the flexicoker is the “most complex unit in our entire system.” A flexicoker typically converts the petroleum coke into a fuel gas, which can be further processed by the refinery.
Lucey said the work at Martinez should be complete “in the next week or so,” and Torrance’s turnaround should complete “before the end of the month.” Lucey also said the company plans additional turnaround in the first quarter, but provided no further details.
New Jersey-based PBF Energy operates six U.S. refineries, terminal and pipeline assets as well as the St. Bernard renewable fuel production plant project at its New Orleans oil refinery under a partnership with Italian oil major Eni SpA.
This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.
–Reporting by Frank Tang, [email protected]; Editing by Jeff Barber, [email protected]
Read the full article here
