PBF to run under 20,000 b/d of TMX in 4Q

Market: Crude oil
31/10/24

US independent refiner PBF processed 20,000 b/d of Canadian crude from the expanded Trans Mountain (TMX) pipeline in the third quarter but expects to run less than that in the fourth quarter, the company said on an earnings call today.

The company can run up to 50,000 b/d of the heavy crude grade from western Canada at its Torrance and Martinez refineries in California, which have a combined 316,000 b/d of capacity.

A higher relative price for the TMX barrels driven by Asian demand and ongoing maintenance on equipment used to remove impurities from heavier crude grades at one of its refineries has led PBF to run less of the Canadian oil.

Longer-term, PBF expects California refineries to run "significantly" more barrels from TMX as they have the lowest logistical cost to transport.

By Nathan Risser

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20/12/24

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20/12/24

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20/12/24

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US Congress passes waterways bill

19/12/24

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