PBF Energy intends to restart Martinez refinery in two stages; insurance coverage expected

PBF Energy Inc.

Refinery (157,000 bpd) shut since Feb 1 fire; crude unit restart early Q2 2025, full restart by Q4 2025.
Stage-one throughput: 85,000–105,000 bpd, limited gasoline, jet fuel, and intermediates production.
Repair costs largely covered by insurance, subject to $30M deductible/retentions.
Business interruption insurance from April 3, 2025, to offset lost margin and ongoing costs.
Restart timing depends on permits, equipment availability, and regulatory approvals.

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