⁍ PBF Energy will shut most refining units at its Paulsboro, New Jersey, refinery.

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⁍ The company will cut 250 jobs at the refinery, which will now only produce partially refined feedstocks.

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⁍ Gasoline refining cracks, or margins, have been weak since the beginning of the pandemic.

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– PBF Energy will shut down most of its 180,000-barrel-per-day Paulsboro, NJ, refinery, resulting in the loss of 250 jobs, per Reuters. In a letter to employees seen by the news agency, CEO Tim Tomy said the company will only be able to produce partially refined feedstocks that will be sent to its nearby Delaware City, Delaware, refinery. “PBF Energy, along with the entire oil industry, has been significantly, unexpectedly, and negatively impacted from the wellhead to the pump by the COVID-19 pandemic, primarily through demand destruction for transportation fuels related to lockdowns that throttled back the economy,” Tomy wrote.