PBF Energy (PBF) said Thursday it will proceed with repairs to restart its Martinez refinery in California, which has a capacity of 157,000-barrel-per-day but has not been operational since the Feb. 1 fire.
The company said the refinery will resume operations in stages, with the crude unit and some other sections restarting in early Q2, while the remaining units, previously slated for maintenance, will be back online by Q4.
Initial throughput during the first stage is expected to be between 85,000 and 105,000 barrels per day, with constrained output of gasoline, jet fuel, and intermediates, PBF Energy said.
The company said the timeline for both phases is subject to regulatory approvals, permitting, and access to required equipment.
PBF Energy expects insurance to cover most repair costs beyond a $30 million deductible and said business interruption insurance should help offset losses starting April 3 until operations are fully restored.
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