PBF Energy - Älteste Beiträge zuerst

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ein Verlierer: Philadelphia Energy Solutions (privat)
ein Gewinner: PBF

--> nicht der einzige Gewinner, da heute alle großen Refiner - vor der US-Reise-Saison - im Plus sind

schon vom 21.6.
PBF Energy Shares Get a Boost From Big Philadelphia Refinery Fire -- Barrons.com
12:16 pm ET June 21, 2019 (Dow Jones) Print

By Andrew Bary

A fire at a big Philadelphia refinery is lifting shares of PBF Energy (PBF), an independent New Jersey-based oil refiner with significant capacity in the mid-Atlantic region.

PBF shares (ticker: PBF) are trading up $2.06, or 8%, to $27.67. PBF stock, however, remains just above a 52-week low of $23.67 set earlier this month and roughly half its high of almost $54 set last October. The shares yield 4.4%.

Wall Street appears to be betting that the fire Friday at the large, privately owned Philadelphia Energy Solutions refinery could disrupt the supply of oil products, including gasoline, lift prices, and benefit PBF. The refinery can process 335,000 barrels a day of crude oil, or about a quarter of the refining capacity in the PADD 1 region along the East Coast.

Last month, an entity controlled by Mexican billionaire Carlos Slim -- one of the world's richest men -- added to its stake in PBF, purchasing 4.6 million shares. It now controls 12% of the company's shares.


PBF operates two refineries in the region, at Delaware City, Del., and Paulsboro, N.J., that have a combined refining capacity of 370,000 barrels a day. In a client note this morning, Mizuho Energy analyst Paul Sankey wrote that PBF "could be the largest immediate beneficiary" of the fire Friday.

Difficult operating conditions in the refining industry have weighed on shares of many industry participants this year. Reflecting those pressures, PBF last month reported an operating loss of $143 million, or $1.18 a share, in the first quarter of 2019, compared with a loss of $33 million, or 29 cents a share, in the year-earlier period.

Tom Nimbley, PBF Energy's chairman and CEO, said in the company's first-quarter earnings release that "results reflect both the challenging market conditions, in terms of narrow crude differentials and weak product margins, as well as the intentional shift of maintenance into this period of low refining margins."

Speaking at a JPMorgan energy conference earlier this week, Nimbley was upbeat, saying that the company should be a beneficiary of the International Maritime Organization 2020 rules that will limit sulfur content in marine fuel, according to a note from JPMorgan analyst Phil Gresh. Nimbley, Gresh wrote, "still believes IMO 2020 will provide measurable upside to the refining industry despite some uncertainty among investors in the current macro environment."...

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Antwort auf Beitrag Nr.: 60.900.054 von faultcode am 27.06.19 00:16:24

am Freitag brach das Feuer in der Philadelphia Energy-Raffinerie aus

=>




6m:

[faultcode]

Antwort auf Beitrag Nr.: 60.900.072 von faultcode am 27.06.19 00:22:29

das WSJ meldete heute:

Philadelphia Energy Solutions plans to put the refinery complex up for sale following a fire there last week
https://www.wsj.com/articles/philadelphia-refinery-largest-o…

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...The Philadelphia Energy Solutions refinery, the largest and oldest refinery on the East Coast, is shutting down and will be put up for sale, the company’s chief executive said on Wednesday, less than a week after a huge fire and explosion there.

“Today, Philadelphia Energy Solutions made the difficult decision to commence shutdown of the refining complex,” said Mark Smith, CEO of the company, which went through bankruptcy and financial restructuring last year. “While our teams include some of the most talented people in the industry, the recent fire at the refinery complex has made it impossible for us to continue operations.”

Mr. Smith said Philadelphia Energy is committed to an orderly process to safely wind down its operations, and “as part of the wind-down, the company will position the refinery complex for a sale and restart.”

The CEO’s comments confirm statements from Philadelphia Mayor Jim Kenney, who earlier in the day said Philadelphia Energy told his office it planned to shut the refinery down. “I’m extremely disappointed for the more than 1,000 workers who will be immediately impacted by this closure, as well as other businesses that are dependent on the refinery operations,” the mayor said.

He said the city now plans to “focus efforts on determining the future of the refinery [and] assisting PES to transition the site safely.”..


--> dauert aber alles erstmal - Monate.

--> solange solte das v.a. PBF helfen


--> von den anderen unabhängigen (VLO, MPC, PSX, HFC) hat - nach den ganzen Konsolidierungen, Aktienrückkäufen (nicht PBF, MPC) und Dividenden - keiner zum 31.3. viel Geld (mehr) auf der hohen Kante; und Aktien will Philadelphia Energy Solutions (PES) sicherlich auch nicht in ihrer Lage (mMn)


--> wer soll also kaufen in Philadelphia/USA?

--> ein großer, integrierter? (diese Raffinerie ist sehr alt als Standort, ~150Y, und möglicherweise eher suboptimal - auch vom Zustand her --> siehe eben den nicht kleinen Brand)

--> ein Ausländer in den USA unter Trump?!?

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Antwort auf Beitrag Nr.: 60.900.093 von faultcode am 27.06.19 00:38:21

PBF Energy : to buy Shell's Martinez, California oil refinery for up to Antwort auf Beitrag Nr.: 60.900.093 von faultcode am 27.06.19 00:38:21 billion

11.6.
https://www.marketscreener.com/PBF-ENERGY-INC-12159534/news/…

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...U.S. refiner PBF Energy Inc on Tuesday agreed to pay up to $1 billion (£786) for a California oil refinery that Royal Dutch Shell PLC has been trying to sell for at least four years.

Terms of the deal require Shell to pay about $70 million for turnaround costs anticipated in the first quarter of 2020, and about $40 million in compensation for downtime, if the deal does not close by the first quarter of 2020, PBF said in a presentation https://investors.pbfenergy.com/~/media/Files/P/PBF-Energy-I…


The deal is expected to close by December and is expected to be "significantly accretive" to PBF's earnings and cash flow, the company said.

Shell had put the Martinez, California plant on the market in 2015 and later suspended its sales efforts after a fire at the refinery. The refinery 30 miles northeast of San Francisco has been operating since 1915.


"The recent global macro softness could have helped the parties to come to an agreement," said Matthew Blair, a refining analyst at investment bank Tudor, Pickering, Holt & Co.

PBF has been interested in balancing its production in California, where it operates a 160,000 barrels per day (bpd) plant in Torrance, Blair said.

"They wanted the two refinery systems, especially considering that when Torrance goes down they just have that one refinery and they don't make anything back," Blair said.

The Martinez plant can process 157,000 bpd of crude oil into gasoline, jet fuel, diesel and other refined products. It also has a coker unit used for processing heavy grades of crude.

PBF had earlier looked at buying the refinery from Shell, but was unable to reach an agreement and it recently re-approached the Anglo-Dutch oil giant, a person familiar with the matter said.

PBF said the acquisition would expand its West Coast operations and increase its overall throughput capacity to over 1 million bpd. The deal also gives PBF a leading position to supply International Maritime Organization 2020-compliant fuels, the company said...


--> Idee ist gut mMn

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Antwort auf Beitrag Nr.: 60.900.072 von faultcode am 27.06.19 00:22:29

wahrscheinlich befinden sich die US-Refiner nun an einem Sweet spot: Nachfrage noch gut, Rohstoffpreise günstig:

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Antwort auf Beitrag Nr.: 61.586.388 von faultcode am 27.09.19 19:22:38

--> so ist es:




--> da sind die Hedgies nun erhöht rein (long):

25.10.
Hedge Funds Are Snapping Up
https://finance.yahoo.com/news/pbf-energy-inc-pbf-hedge-1530…

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[faultcode]

Antwort auf Beitrag Nr.: 61.769.600 von faultcode am 25.10.19 21:46:44

3.2.
...Shell verkauft US-Raffinerie an PBF Energy...
https://www.finanzen.net/nachricht/aktien/konzernstrategie-m…

Der Energiekonzern Shell hat seine Raffinerie im kalifornischen Martinez für 1,2 Milliarden US-Dollar an PBF Energy verkauft.

Teil der Transaktion ist die fortgesetzte Lieferung von Ölprodukten der Raffinerie an das Markenkraftstoffgeschäft von Shell, das der Konzern behalten hat, wie Royal Dutch Shell plc mitteilte.

Der Verkauf erfolgt im Zuge der Konzernstrategie, etwa die Hälfte seiner Raffinerien weltweit zu verkaufen. In den vergangenen Jahren haben neue Raffinerien in Ländern wie Indien und China zu einem Überangebot an weltweiten Raffineriekapazitäten geführt, was die Gewinne belastete.
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6.2.
...Ten U.S. refineries emitted excessive cancer-causing benzene in 2019 -report
https://finance.yahoo.com/news/ten-u-refineries-emitted-exce…
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Ten U.S. oil refineries, including six in Texas, released the cancer-causing chemical benzene in concentrations that exceeded federal limits last year, according to government data published by the green group Environmental Integrity Project on Thursday.

The study is based on the first full year of data reported by U.S. refineries since a U.S. Environmental Protection Agency rule was implemented in 2018. The rule requires continuous monitoring of air pollutants around plants to protect nearby communities, many of which are disproportionately poor, black and Hispanic.

"These results highlight refineries that need to do a better job of installing pollution controls and implementing safer workplace practices," EIP Executive Director Eric Schaeffer said in a statement. "Now, EPA needs to enforce these rules."

EPA officials did not immediately respond to requests for comment.

Long-term exposure to benzene can cause blood disorders and leukemia, according to the agency.

Monitoring for benzene is meant to be a tool that allows for "early detection of potential problems," said Ericka Perryman, a spokeswoman for the American Fuel & Petrochemical Manufacturers trade group, in a statement.

But the EPA's data "is not intended as a measure of community exposure or health risk and could inadvertently provide misleading results to the public," she added.

According to the report, benzene levels consistently exceeded the EPA standard of 9 micrograms per cubic meter of air at the fencelines of 10 of the more than 100 refineries examined by EIP. The EPA requires facilities that exceed that threshold to take corrective action, the report said.

Philadelphia Energy Solutions' refinery in Philadelphia recorded the highest benzene concentrations, at nearly five times the EPA standard, the data show. HollyFrontier Corp's Navajo Artesia plant in New Mexico followed, with more than three times the federal standard.

Philadelphia Energy shut that refinery and filed for bankruptcy in July after a fire destroyed part of the plant.

Texas was the hardest-hit state, with six refineries exceeding the federal benzene standard, the report said. These are Total SA's Port Arthur refinery, Chevron Corp's Pasadena Refinery, Flint Hills Resources' Corpus Christi East refinery, Valero Energy Corp's Corpus Christi East, Royal Dutch Shell Plc's Deer Park and Marathon Petroleum Corp's Galveston Bay Texas refinery.

Two other refineries listed are Chevron's Pascagoula in Mississippi and PBF Energy Inc's Chalmette Refining in Louisiana.

In a statement, Chevron said it had taken steps to improve performance and added that its Pascacoula and Pasadena refineries were in compliance with EPA requirements.

Marathon spokesman Jamal Kheiry said in an emailed statement that a relief valve at its refinery's dock was the source of a benzene release in March 2019. The company took steps to fix the problem, he said.

"We are committed to comply with EPA rules," Total spokeswoman Marie Maitre said in an email. "Our refinery employees live and have families in this community and the Total Port Arthur Refinery works hard at being a good neighbor."

Flint Hills spokesman Andy Saenz said the EPA's fenceline monitoring program "is not an accurate measurement of ambient air conditions in a community." He said benzene levels in Corpus Christi were "much lower than this report would suggest and well within public health standards."

Owners of the other refineries did not immediately comment on the report.
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Antwort auf Beitrag Nr.: 63.031.513 von faultcode am 17.03.20 00:48:31

PBF Energy könnte sehr wahrscheinlich von der Schließung der Dakota Access-Pipeline proftieren, weil deren Rohöl sowieso meist/oft mit dem Zug angekarrt werden muss.

Auch wenn die Aktie bislang null darauf reagierte (*).

Dakota Access bleibt in jedem Fall bis Mitte 2021 außer Betrieb, solange das neue Umwelt-Gutachten erstellt wird.

Der Rechtsstreit dort wird wohl noch lange andauern, und unter einem möglichen Pres. Biden wird sich eine Wiederöffnung wohl mindestens verzögern, wenn überhaupt.


7.7.
U.S. Midwest products prices due to rise from Dakota Access pipeline shutdown
https://www.reuters.com/article/us-usa-pipeline-energy-trans…
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Companies that have access to crude supplied by rail are likely to benefit, such as Par Pacific Holdings (PARR.N) and PBF Energy (PBF.N), TPH’s Blair said.
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(*)