MNI BRIEF: Canada PM Carney Derides Trump's 51st State Idea

MNI BRIEF: Carney Sworn In As PM, Names Champagne To Finance

MNI China Daily Summary: Friday, March 14

MNI BRIEF: China February M2 Stays At 7% Y/Y

RPT-MNI INTERVIEW2: Lag Justifies Faster CNB Easing - Holub

BAKER HUGHES CANADA RIG COUNT 199; OIL RIGS 139; GAS RIGS 60

MNI: BAKER HUGHES US RIG COUNT 592; OIL RIGS 487; GAS RIGS 100

EZ/UK T-Bill Calendar: DE, NL and FR Due Monday

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

AMERICAS OIL: PBF Martinez Damage Assessment May Take Week or More to Begin: BBG

AMERICAS OIL
USEnergy BulletsNorth AmericaBulletCommodities

PBF Martinez Damage Assessment May Take Week or More to Begin: BBG

  • PBF Energy CEO Matt Lucey said during a 4Q earnings call Thursday they are still unable to fully access the fire-damaged area at the 156k b/d Martinez refinery near San Francisco to initiate an investigation.
  • Lucey said it remains cordoned off, and the entire refinery is shut down.
  • “We are still early in the recovery process. We expected, quite frankly, to have access to it already, but we don’t. But over the next week or so, I think we’ll have a much better view”: Lucey.
  • PBF’s 160k b/d Torrance refinery in the Los Angeles area “is producing products which are desperately needed in California” and will maximize production as market needs warrant: Lucey.
  • PBF didn’t estimate how long Martinez operations would be curtailed except to say the schedule for a planned 60-day turnaround on the FCC and ancillary units in the area of the fire will be impacted.
  • PBF may need 45 days or longer to determine the full extent of the damage from the fire, which broke out in an area where gasoline is made, according to people familiar with operations Wednesday. The hydrotreater, the FCC and an alkylation unit were being prepped for a turnaround set to start Feb. 3.
208 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

PBF Martinez Damage Assessment May Take Week or More to Begin: BBG

  • PBF Energy CEO Matt Lucey said during a 4Q earnings call Thursday they are still unable to fully access the fire-damaged area at the 156k b/d Martinez refinery near San Francisco to initiate an investigation.
  • Lucey said it remains cordoned off, and the entire refinery is shut down.
  • “We are still early in the recovery process. We expected, quite frankly, to have access to it already, but we don’t. But over the next week or so, I think we’ll have a much better view”: Lucey.
  • PBF’s 160k b/d Torrance refinery in the Los Angeles area “is producing products which are desperately needed in California” and will maximize production as market needs warrant: Lucey.
  • PBF didn’t estimate how long Martinez operations would be curtailed except to say the schedule for a planned 60-day turnaround on the FCC and ancillary units in the area of the fire will be impacted.
  • PBF may need 45 days or longer to determine the full extent of the damage from the fire, which broke out in an area where gasoline is made, according to people familiar with operations Wednesday. The hydrotreater, the FCC and an alkylation unit were being prepped for a turnaround set to start Feb. 3.