⁍ PBF Energy will shut most refining units at its Paulsboro, New Jersey, refinery.
⁍ The company will cut 250 jobs at the refinery.
⁍ PBF cited the devastating impact of the coronavirus pandemic on fuel demand.
– PBF Energy will shut down most of its 180,000-barrel-per-day Paulsboro, NJ, refinery, resulting in the loss of 250 jobs, per a letter from CEO Tim Tomy sent to employees Wednesday, per Reuters. Tomy wrote that “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.” The letter added that the refinery will only produce partially refined feedstocks that will be sent to PBF’s nearby Delaware City, Delaware, refinery. Per a press release, PBF said it had 489 full-time workers at the Paulsboro refinery. The 180,000 barrel-per-day Paulsboro refinery is one of just a handful remaining on the East Coast, where a number of facilities have closed in recent years. Canada’s Come-by-Chance plant in Newfoundland and Labrador has been idled since May due to the impact of the coronavirus pandemic. In 2019, the Philadelphia Energy Solutions plant was shut down following an explosion and fire.
Source: https://www.reuters.com/article/pbf-energy-paulsboro/update-2-pbf-energy-to-shut-fuel-producing-units-at-paulsboro-refinery-letter-idUSL1N2HJ3IB