PBF Energy announced today it completed its $322 million acquisition of Chalmette Refining LLC and related logistics assets from ExxonMobil and PDVSA. The 189,000-barrel-per-day dual-train coking refinery is located near New Orleans and processes both light and heavy crude. PBF said it would run the refinery between 170,000 and 190,000 barrels per day in the fourth quarter, processing a slate of primarily medium to heavy-sour crude. The company said in September it would restart a 20,000-barrel-per-day hydrocracking unit at the refinery that was idled in 2010 due to weak global demand for diesel fuel.
PBF in September agreed to buy ExxonMobil’s Torrance, California, refinery, which is still recovering from a February explosion that damaged key emissions control equipment. The two acquisitions will increase PBF’s refining capacity by more than 60%.
MORE REFINING NEWS: Marathon cancels $2.5 billion Garyville expansion project
