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Sinochem New Network News: On January 5, PBF Energy disclosed the latest progress on the reconstruction of its Martinez refinery in California. The refinery experienced a fire on February 1, 2025; it was originally planned to resume operations by the end of 2025, but the reconstruction work will now progress until February, with planned operational capacity expected to be achieved in early March. At present, the plant’s utility facilities and some idle equipment have begun to be tested; they will be restarted in phases according to the project schedule, with quality control procedures followed throughout. Matt Lucchi, President and CEO of PBF, said the team is working tirelessly to ensure the refinery’s safe return to full operation, and expressed gratitude to the local community, the regulators of Contra Costa County, and the Bay Area Air Quality Management District for their support in helping the refinery reenter the market to meet California’s energy needs. Financially, the costs associated with refinery repairs are primarily covered by insurance, with the company having to bear a deductible of $30 million. By 2025, PBF had received a total of $890 million in insurance payouts for unspecified purposes, after deducting the deductible; subsequent payouts will be calculated based on actual losses. In addition, PBF plans to carry out routine maintenance and multiple overhauls on its refining facilities in 2026.