PBF Energy provides update on Martinez refinery operations

PBF expects to achieve planned operating rates by the beginning of March 2026. PBF previously projected a year-end 2025 restart. Since early in 2Q25, the Martinez refinery has been operating in the 85 000 - 105 000 bpd range. Currently, the commissioning phase of utility systems and certain idled equipment has commenced, and a phased restart of the refinery will progress as work is completed, and the quality assurance and control process is completed.

Matt Lucey, PBF’s President and CEO, commented: “We are committed to the safe restoration of full operations at our Martinez refinery. Tremendous effort has gone into getting us to this point, weeks away from completing the project. Our employees, rallied behind our facility and are working tirelessly to safely finalise the repairs. I would also like to acknowledge the support of our local community, Contra Costa County regulators and the Bay Area Air District, for their efforts in getting the Martinez refinery back to a position where we can more fully contribute to satisfying California's demand for our products.”

As previously disclosed, the company expects the fire-related cost of restoring the refinery to full operational status will largely be covered by insurance, subject to the company’s deductible and retentions totalling US$30 million. Further, beyond the initial 60-day waiting period, the company expects that its business interruption insurance will significantly offset the financial loss resulting from the downtime through the restart of the refinery. In 4Q25, PBF’s insurers paid a third, unallocated, instalment of insurance proceeds of US$393.5 million, totalling $893.5 million of unallocated insurance reimbursements received in 2025, net of deductibles and retentions. The timing and amount of any agreed future payments will be dependent on the quantum of actual, covered expenditures, and calculated losses.

Read the article online at: https://www.hydrocarbonengineering.com/refining/07012026/pbf-energy-provides-update-on-martinez-refinery-operations/