PBF Set to Begin Full-scale Toledo Refinery Turnaround Oct. 10-Source

PBF Energy plans to begin an over month-long, refinery-wide maintenance shutdown of its 160,000 barrel-a-day facility in Toledo, Ohio, on Oct. 10, according to a person familiar with the refinery's operations.

 

The company has said publicly that the turnaround would last about 40 days and would begin in the fourth quarter. The company has not specified the start date of the work.

 

However, a source familiar with the work said it was on track to begin Oct. 10. A second source familiar with the plans said they included a new reactor for the catalytic cracker.

 

The sources could not be identified because they are not authorized to speak publicly about operations.

 

The turnaround is expected to cost $130 million, resulting in improved production from the gasoline-making catalytic cracker and increased distillate production capability, PBF Chief Executive Officer Tom Nimbley told analysts last month.

 

A spokesman for Parsippany, New Jersey-based PBF said while the company discussed the shutdown during earnings calls, it was not going to comment on the specifing timing, which is subject to change.

 

The refinery processes light, sweet crudes from the Gulf Coast, Bakken region and Canada, according to traders and the company's Securities and Exchange Commission filings. The plant has received imports of about 104,000 barrels a day of Canadian Oil on average since January 2012, U.S. data show.

 

The refinery was in the process of completing construction of a new 450,000 barrel crude storage tank last month, and Nimbley said the company hopes to add its own off-loading facility to give it more flexibility.

 

PBF, which was formed in 2008 to acquire U.S. refineries, purchased the Toledo facility in 2010 from Sunoco. In the same year, PBF purchased Valero's refineries in Paulsboro, New Jersey and Delaware City, Delaware.

 

PBF shares closed down 3.6 percent at $23.98 on the New York Stock Exchange

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