PBF Energy has agreed to acquire the 189,000-barrel-per-day Chalmette Refinery near New Orleans and its related logistics assets for $322 million. The refinery is currently a joint venture between ExxonMobil and PDVSA. The transaction is expected to close by the end of the year.
PBF Energy CEO Tom Nimbley said the deal would increase his company’s refining capacity by 35% and add “meaningful” Gulf Coast assets to its portfolio.
PBF has shown an appetite for acquisitions in recent years. It bought its Delaware City, Del., refinery from Valero in 2010 and has expressed interest in acquiring a refinery in California. PBF was said to be in the mix to buy ExxonMobil’s Torrance, Calif., refinery, before it was damaged in a February explosion.
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