Updates
** Shares of refiner PBF Energy PBF.N decline 11% to $23.73, their lowest since March 2022
** PBF says it has no estimate for how long the 156,400-barrel-per-day (bpd) Martinez, California, refinery would remain shut following a February 1 fire
** "At this time, the cost of repairs and the length of the shutdown arising from the incident cannot be reasonably estimated," the company says
** PBF posts a third consecutive quarterly loss as refining margins decline
** Posts Q4 adj. loss of $2.82/share vs analysts' estimate of $2.81/share - data compiled by LSEG
** Q4 consolidated gross refining margin loss of $3.89/bbl compared with a profit of $1.04/bbl a year ago
** Company plans to operate its refineries up to 76% of their combined production capacity of 1 million barrels per day (bpd) in Q1 2025
** So far this year PBF stock is down ~11%
(Reporting by Katha Kalia)
((Katha.Kalia@thomsonreuters.com))
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