PBF Energy

What PBF Energy does

PBF Energy Inc. is one of the largest independent merchant petroleum refiners in North America, operating six domestic refineries with a combined throughput capacity of approximately 1,000,000 barrels per day (bpd) and a weighted-average Nelson Complexity Index of 12.7. The refinery portfolio spans Delaware City, DE (180,000 bpd); Paulsboro, NJ (155,000 bpd); Toledo, OH (180,000 bpd); Chalmette, LA (185,000 bpd); Torrance, CA (166,000 bpd); and Martinez, CA (157,000 bpd), with individual complexity ratings ranging from 8.8 to 16.1, enabling processing of diverse and heavy crude slates including high-sulfur crudes.

The company operates in two reportable segments: Refining and Logistics. The Refining segment processes crude oil into unbranded transportation fuels (gasoline, ULSD, jet fuel), heating oil, lubricant base oils (Paulsboro produces over 11,000 bpd of VP-brand paraffinic and aromatic oils), petrochemical feedstocks (benzene, toluene, xylene, propylene), LPG, and asphalt. The Logistics segment, consolidated through PBF Logistics LP following its 2022 take-private, manages crude and refined products terminals, storage facilities, and the 23.4-mile Delaware Pipeline Company. PBF also holds a 50% interest in the St. Bernard Renewables joint venture with Enilive S.p.A., producing 306 million gallons per year of renewable diesel at Chalmette.

PBF generates revenue through transaction-based sales of refined petroleum products to an extensive network of independent dealers and wholesalers across the Northeast, Midwest, Gulf Coast, and West Coast of the United States, as well as Canada, Mexico, and select international markets via marine export. Products are distributed through a multi-modal network of marine vessels, pipelines, trucks, and rail. Pricing is determined by market conditions, crude costs, and refining margins (crack spreads). The company does not operate company-owned or branded retail outlets. Notable institutional shareholders include Berkshire Hathaway and Carlos Slim's Control Empresarial de Capitales (approximately 15.3% stake post-2026 reductions).

Name

PBF Energy

Legal name

PBF Energy Inc.

Website

https://pbfenergy.com

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

PBF Energy is one of the largest independent petroleum refiners in North America, operating six refineries with ~1,000,000 bpd of throughput capacity. It sells unbranded transportation fuels, lubricants, and petrochemical feedstocks through dealers and wholesalers across the U.S., Canada, and Mexico.

Ownership category

akta.pro rank

Product category

Petroleum Refining

NAICS

Petroleum Refineries (32411), Pipeline Transportation of Refined Petroleum Products (486910), Petroleum Bulk Stations and Terminals (424710)

SIC

Petroleum Refining (2911), Pipe Lines (No Natural Gas) (4610), Miscellaneous Products Of Petroleum & Coal (2990)

akta.pro primary industry

Conversion Refineries (FCC/Hydrocracking/Coking) (EUALAGAB)

akta.pro secondary industries

Renewable Diesel (HVO/HEFA) Production (EUAAAHAD), Biofuels & Renewable Fuels Switching (Biomethane/RNG, Bio-oils, Sustainable Biomass) (EUABAJAD)

Keywords

• Petroleum refining
• Crude oil processing
• Unbranded transportation fuels
• Lubricant base oils
• Renewable diesel production

Headquarters

HQ city

Parsippany

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Petroleum Refining and Product Sales: PBF Energy generates revenue by refining crude oil and other feedstocks into petroleum products including gasoline, diesel, jet fuel, heating oil, petrochemical feedstocks, lubricants, asphalt, LPG, and petcoke. The company sells unbranded transportation fuels and other petroleum products throughout the United States, Canada, Mexico and international markets through dealers and wholesalers. Revenue is transaction-based, driven by refining margins (crack spreads) and throughput volumes.
2. Logistics Services: PBF operates logistical assets including crude oil and refined products terminals, pipelines, and storage facilities through its PBFX segment. These logistics operations support the refining business and generate additional revenue streams from transportation and storage services.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

PBF Energy operates six domestic oil refineries with a combined throughput capacity of approximately 1,000,000 barrels per day (bpd) and a weighted-average Nelson Complexity Index of 12.7, producing unbranded transportation fuels (gasoline, ULSD, jet fuel), heating oil, lubricant base oils, petrochemical feedstocks, LPG, and asphalt. The company distributes these products through independent dealers, wholesalers, and direct commercial channels across the Northeast, Midwest, Gulf Coast, and West Coast of the United States, with additional reach into Canada, Mexico, and select international destinations, and holds a 50% interest in the St. Bernard Renewables joint venture producing 306 million gallons per year of renewable diesel.

Product overview

PBF Energy is one of the largest independent petroleum refiners in North America, operating six oil refineries with a combined throughput capacity of approximately 1,000,000 barrels per day and a weighted-average Nelson Complexity Index of 12.7. The company operates in two reportable business segments: Refining and Logistics. The Refining segment encompasses crude oil processing into petroleum products including transportation fuels (gasoline, diesel, jet fuel), heating oil, lubricant base oils, petrochemical feedstocks, LPG, and asphalt. The Logistics segment operates through PBF Logistics (PBFX), managing crude oil and refined products terminals, pipelines (including the Delaware Pipeline Company), and storage facilities. The company also holds a 50% interest in the St. Bernard Renewables joint venture with Enilive S.p.A., producing approximately 306 million gallons per year of renewable diesel at the Chalmette facility.

Differentiator

Problem solved

Functional benefit

Products and services

• Refining Operations Operating six domestic oil refineries with combined capacity of approximately 1,000,000 bpd processing crude oil into refined petroleum products for sale to dealers, wholesalers, and commercial customers.
• Saint Bernard Renewables (SBR) Renewable Diesel Renewable diesel produced via advanced hydroprocessing at the Chalmette biorefinery, converting organic feedstocks such as used cooking oils, animal fats, and seed oils into renewable diesel meeting California LCFS and federal RFS requirements.
• Transportation Fuels (Gasoline, ULSD, Jet Fuel) Unbranded transportation fuels including conventional gasoline, reformulated gasoline (RFG), ultra-low sulfur diesel (ULSD), and commercial aviation jet fuel produced at PBF's six refineries and sold to wholesale fuel customers.
• Lubricant Base Oils VP brand lubricant base oils produced at Paulsboro Refining Company with over 11,000 bpd capacity, available in straight-cut (VP 100, 165, 500, 150 Bright Stock) and custom blended formulations for automotive, railroad, industrial, and marine engine oils.
• Petrochemical Feedstocks Petrochemical feedstocks including benzene, nonene, refinery grade propylene, tetramer, toluene, and xylene produced primarily at the Toledo refinery and sold as inputs for chemical manufacturing.
• LPG Products Liquefied petroleum gas products including propane, butane, and isobutane produced at PBF refineries and sold to wholesale and industrial customers.
• Asphalt Asphalt products produced at PBF refineries, with the Paulsboro refinery being the largest producer of asphalt on the East Coast, sold to road construction and industrial customers.
• Delaware Pipeline Company Transportation Services A 23.4-mile petroleum products pipeline operated under DOT/PHMSA, Delaware Public Service Commission, Pennsylvania Public Utility Commission authority and FERC-approved tariffs, connecting the Delaware City Refinery to Sunoco Pipeline LP Twin Oaks Pump Station to transport various grades of gasoline and distillate fuels.

Quantifiable outcome

• Over 30% reduction in absolute Scope 1 and Scope 2 GHG emissions since 2013
• +4 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Enilive S.p.A. (formerly Eni Sustainable Mobility)coreStrategic or Co-development Partner · 1 January 2023St. Bernard Renewables (SBR) is a 50-50 joint venture between PBF Energy and Enilive S.p.A. (formerly Eni Sustainable Mobility) that operates a biorefinery at the Chalmette refinery. The facility consists of a pre-treatment unit and renewable diesel unit (RDU) with production capacity of 306 million gallons per year of renewable diesel. The joint venture converts organic feedstocks such as used cooking oils, animal fats, and seed oils into high-quality renewable diesel meeting California Low Carbon Fuel Standard and Renewable Fuel Standard requirements. PBF Energy CEO Matthew Lucey stated the partnership demonstrates commitment to delivering diversified sources of energy while lowering carbon intensity.

Scale indicators14 records

Recent moves6 records

Expansion highlights4 records

Emerging players

• Neste Oyj: Neste is the world's largest producer of renewable diesel (SAF) from renewable feedstocks, with ~5M tons capacity. Direct competitor to PBF's St. Bernard Renewables in the renewable diesel/SAF market, especially under California's LCFS.

Broad incumbents

• Chevron Corporation: Chevron is an integrated oil major with ~1.8M bpd of refining capacity globally alongside upstream and chemicals. Larger, vertically integrated peer competing with PBF in U.S. refined product markets, particularly California (Pasadena refinery).
• BP plc: BP is an integrated energy major with refining operations in the U.S. (Whiting refinery) and globally, plus a growing convenience/retail and biofuels franchise. Broader competitor with overlapping U.S. refining and biofuel ambitions.

Direct peers

• Valero Energy Corporation: Valero operates ~3.2M bpd across 15 petroleum refineries and is a leading renewable diesel producer (Diamond Green Diesel). Direct competitor on unbranded wholesale model, refinery complexity, and renewable diesel scale.
• Marathon Petroleum Corporation: Marathon Petroleum is the largest U.S. independent refiner, operating ~2.9M bpd of capacity across multiple regions with comparable transportation fuel, crude flexibility, and renewable diesel exposure (via Martinez JV). Closest direct competitor to PBF's refining and wholesale model.
• HF Sinclair Corporation: HF Sinclair operates ~0.6M bpd of refining capacity and has specialty lubricant/base oil businesses (Sinclair, Petro-Canada). Comparable mid-cap independent refiner with overlapping product slate, including lubricants.
• CVR Energy: CVR Energy operates two refineries (Coffeyville, Wynnewood) totaling ~0.2M bpd focused on inland U.S. markets. Comparable independent refiner with similar margin volatility and exposure to crack spreads.
• Phillips 66: Phillips 66 operates ~1.8M bpd of refining capacity across the U.S. and Europe with integrated midstream, chemicals, and marketing. Comparable diversified product slate, midstream integration, and renewable fuels ambitions to PBF.
• Delek US Holdings: Delek operates refineries in Texas, Louisiana, and Arkansas (~0.3M bpd) with integrated midstream and retail. Smaller independent refiner with similar unbranded wholesale and crude flexibility focus.

Regional players

• Sunoco LP: Sunoco LP is a leading U.S. motor fuel distributor and terminal operator with pipelines including the Twin Oaks system that connects to PBF's Delaware Pipeline. Strategic customer/connector rather than direct refining competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries4 records

Funding overview

Funding rounds6 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PBF Energy