PBF Energy Inc. provides an update on the Martinez, California refinery operations following a fire incident in February 2025.
The company expects rebuild activities to progress into February with planned operating rates by March 2026.
Insurance coverage is expected to largely offset the cost of restoring the refinery to full operational status.
Refinery Operations Update
Rebuild activities at Martinez refinery expected to progress into February with planned full operations by March 2026.
Insurance Coverage
Insurance expected to cover the majority of costs for restoring the refinery, with $893.5 million already received in 2025.
2026 Annual Guidance
Provided throughput expectations and planned maintenance activities for PBF's refining system in 2026.
- PBF Energy is focused on the safe restoration of operations at the Martinez refinery, with significant efforts and community support.
- The company's financial losses during the downtime are expected to be offset by business interruption insurance post the 60-day waiting period.
PBF Energy's progress in rebuilding the Martinez refinery reflects a commitment to operational excellence and community support.