Shell Q3 Adjusted Earnings Surge 99% Y-o-Y to $10.8B


   PBF: No Turnarounds Left in 2026

   
Daniel Rodriguez Huerta
DTN Refined Fuels Market Reporter

   CALGARY, CANADA (DTN) - PBF Energy has no turnarounds left in 2026, which 
gives it a "clear operational runway" for the rest of the year, Mike Bukowski, 
head of refining at the East Coast-based refiner said Thursday (10/29).

   PBF finished turnarounds in October on the hydrocracker at its 157,000-bpd 
Martinez refinery in California and the crude unit at its 155,000-bpd Paulsboro 
refinery in Parsippany, New Jersey, Bukoswi said on the company's third quarter 
earnings call.

   The pretreater and reformer at the 185,000-bpd Chalmette refinery in 
Louisiana was also back in service after being offline since May, he added.

   CEO Matt Lucey said 2027 will, however, be a heavier turnaround year than 
most for PBF, while 2028 was projected to be lighter. In a typical fourth 
quarter, the market does not always encourage maximum runs, he said, but PBF 
intended to make as many products as possible per demand.

   West Coast demand for projects has been steady for 12 months despite 
volatile prices, PBF executive Paul Davis said. PBF's wholesale volumes there 
rose slightly, probably as some branded volumes shift to wholesale.

   PBF executives also reported that:

The Chalmette refinery now makes about 10,000 bpd of jet fuel by upgrading 
high-sulfur diesel, after the first phase finished in the third quarter. PBF 
plans to raise that to 20,000 bpd in 2027.A 2027 project at the Paulsboro 
refinery would add about 10,000 bpd of gasoline yield and blending capability 
by upgrading lower-value intermediates. Both are yield projects, not capacity 
expansions, and PBF is not pursuing large expansions.PBF deferred a turnaround 
at its Toledo, Ohio, refinery to 2027 after using unplanned downtime there in 
May to do preparatory work.PBF's SBR renewable diesel investment produced about 
19,200 bpd in the third quarter and is guided to 18,000-20,000 bpd in the 
fourth quarter. Strong margins and high RIN prices lifted results.


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