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PBF Energy Braces for Another Tough Year in Refining, Eyes Renewable Diesel

petroleum_refining

Industry Segment: Petroleum Refining | Word Count: 787 Words
Attachment: PBF4Q20

SUGAR LAND--February 15, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--The COVID-19 pandemic made no exceptions for refiner PBF Energy Incorporated (NYSE:PBF) (Parsippany, New Jersey), which saw its 2020 revenues fall 42% from 2019 to about $3.65 billion, as many drivers reduced their road time and per-barrel refining margins fell below $10, usually the breakeven line for profits. Executives bluntly acknowledged that its product demand will not see substantial growth until vaccine distribution is improved. Industrial Info is tracking about $680 million in active projects from PBF, only $100 million of which is attributed to unit additions.

Within this article: Details on some of PBF's highest-valued active projects across the U.S., including a proposed renewable-diesel unit addition in California and a series of upgrades at its major facilities.

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