Refinery

By Nick Green, Daily Breeze
Posted: 09/30/15 – 7:56 PM PDT |

The buyer of ExxonMobil’s Torrance refinery is a little-known company that has existed only seven years but will become the nation’s fifth largest independent refiner once the deal is consummated next year.

The Torrance refinery will be PBF Energy’s fifth nationwide and first on the West Coast.

It’s the company’s second acquisition of a former ExxonMobil refinery; PBF announced earlier this year it was buying a refinery in Chalmette, La., that is a joint venture between ExxonMobil and the Venezuelan national oil company.

That purchase is expected to be completed in November.

“The Torrance refinery acquisition is another significant step in the continued growth of PBF Energy,” CEO Tom Nimbley said. “Coupled with the previously announced Chalmette acquisition, we will have increased our refining capacity by over 60 percent and added meaningful Gulf and West Coast assets to our refining system.

“We are excited to be adding a refinery with Torrance’s complexity and we look forward to entering the West Coast market,” he added.

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