PBF Energy Partners LP Prepares to Restart Refinery in Delaware

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Researched by Industrial Info Resources (Sugar Land, Texas)--In June 2010, PBF Energy Partners LP completed a transaction to purchase Valero Energy Corporation's (NYSE:VLO) (San Antonio, Texas) Delaware City refinery for $220 million. The acquired assets include a 190,000-barrel-per-day refinery that is currently idle; an associated terminal and pipeline; and a 218-megawatt power plant complex.

The Delaware City refinery was shut down in December 2009. The new owner of the refinery is planning to operate it as Delaware City Refining Company LLC, and is investing an estimated $125 million to $150 million to improve the plant operations by performing a plant-wide de-bottlenecking. PBF Energy plans to restart the refinery operation by April 2011. The company has Nooter Construction and JJ White as construction managers to assist with the restarting efforts.

The Delaware City refinery is a high‐conversion, heavy crude-oil refinery on a 5,000 acre site, on the shore of the Delaware River. The refinery's major process units include a fluid coking unit, a fluid catalytic cracking unit, a hydrocracking unit, a hydrogen plant, a continuous catalytic reformer, an alkylation unit, and hydrotreating units. The refinery markets its refined petroleum products in the northeastern U.S. via pipeline, barge and truck distribution. PBF Partners is backed by three of the world's leading energy and financial enterprises: Petroplus Holdings AG (VTX:PPHN) (Zug, Suiza), The Blackstone Group (NYSE:BX) and First Reserve Corporation. Each firm is committing $666 million to PBF Partners for new investments in oil refineries and related facilities throughout North America.

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