PBF Energy is set to complete the maintenance of its Torrance and Martinez refineries in California this month, according to Chief Executive Officer Matt Lucey. Speaking during a call with analysts to discuss the company's third-quarter financial results, Lucey provided insights into the ongoing maintenance projects.
Planned Maintenance at Torrance and Martinez Refineries
Lucey stated that there is ongoing planned maintenance at the Torrance refinery, specifically on the Fluid Catalytic Cracking (FCC) and alkylation units. Additionally, extra work is being carried out on the flexicoker at the Martinez refinery. The flexicoker maintenance was unplanned, and as a result, PBF Energy's capture rate for the fourth quarter is expected to be impacted.
The Complex Nature of the Flexicoker Unit
Lucey emphasized that the flexicoker unit at Martinez is the most intricate part of their entire system. Typically, this unit converts petroleum coke into fuel gas, which can then undergo further processing within the refinery.
Projected Completion Dates
Lucey provided estimated completion dates for the maintenance projects. He stated that the work at the Martinez refinery should be completed "in the next week or so," while the turnaround at Torrance is expected to be finished "before the end of the month." Additionally, Lucey mentioned that PBF Energy has plans for another turnaround in the first quarter, without providing further details.
PBF Energy's Operations and Partnerships
PBF Energy, headquartered in New Jersey, operates six US refineries along with terminal and pipeline assets. They also have a partnership with Italian oil major Eni SpA for the St. Bernard renewable fuel production plant project at their New Orleans oil refinery.
Reporting by Frank Tang, Editing by Jeff Barber
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