secwatch.observer — SEC 8-K summary
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Issuer:     PBF Energy Inc. (PBF)
CIK:        0001534504
Form:       8-K
Filed at:   2023-06-28T23:59:59+00:00
Accession:  0001534504-23-000028
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PBF and Eni Sustainable Mobility form 50-50 JV at St. Bernard biorefinery; Eni pays $431M at close
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- Eni commits $835M total; $431M paid at closing; $50M contingent on milestones.
- JV owns biorefinery co-located with PBF's Chalmette Refinery in Louisiana.
- Biorefinery capacity ~1.1M tonnes/yr, producing 306M gallons/yr renewable diesel.
- Production commenced June 2023; pre-treatment unit start-up expected in coming weeks.
- Eni to increase refining capacity to over 1.6M tonnes/yr immediately.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1534504/000153450423000028/0001534504-23-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1534504/000153450423000028/pbf-20230627.htm
  HTML page:      https://secwatch.observer/filing/0001534504-23-000028

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer