Thursday, November 1, 2018

Climate change: Oceans 'soaking up more heat than estimated'

From:  BBC, Science & Environment 



The new study says the oceans have absorbed far more heat than previously thought - Getty Images

The world has seriously underestimated the amount of heat soaked up by our oceans over the past 25 years, researchers say.


They say it means the Earth is more sensitive to fossil fuel emissions than estimated.
This could make it much more difficult to keep global warming within safe levels this century.

Friday, September 21, 2018

PBF TOSCO CONNECTION

By Dave Lincoln


EXXON - PBF - TOSCO CONNECTION

      The long and twisted history of how Exxon  
      and other refiners unload their worst assets.


From:  PBF Energy


Thomas D. O'Malley


Thomas D. O’Malley has served as Executive Chairman of the Board of Directors of PBF Energy since its formation in November 2011, served as Executive Chairman of PBF LLC and its predecessors from March 2008 to February 2013 and was our Chief Executive Officer from inception until June 2010. Mr. O’Malley has more than 30 years experience in the refining industry. He served as Chairman of the Board of Petroplus Holdings A.G., listed on the Swiss Exchange, from May 2006 until February 2011, and was Chief Executive Officer from May 2006 until September 2007. Mr. O’Malley was Chairman of the Board and Chief Executive Officer of Premcor, a domestic oil refiner and Fortune 250 company listed on the NYSE, from February 2002 until December 2004, and continued as Chairman until its sale to Valero in August 2005. Before joining Premcor, Mr. O’Malley was Chairman and Chief Executive Officer of Tosco Corporation. This Fortune 100 company, listed on the NYSE, was the largest independent oil refiner and marketer of oil products in the United States, with annualized revenues of approximately $25.0 billion when it  [TOSCO]   was sold to Philips Petroleum Company in September 2001. Mr. O’Malley’s extensive experience in and knowledge of the refining industry, as well as his proven leadership skills and management experience provides the board with valuable leadership, and for these reasons we believe Mr. O’Malley is qualified to serve as Chairman of our board of directors.

COLOR CODE
PETROPLUS     TOSCO
PBF                     CONOCOPHILLIPS
PREMCOR        EXXONMOBIL
VALERO            
     
 
Thomas Nimbley
Mr. Nimbley has served as PBF's Chief Executive Officer since June of 2010 and was appointed to the board of directors in October of 2014. Prior thereto, he served as a Principal for Nimbley Consultants LLC from June 2005 to March 2010, where he provided consulting services and assisted on the acquisition of two refineries. He previously served as Senior Vice President and Head of Refining for Phillips Petroleum Company and subsequently Senior Vice President and head of Refining for ConocoPhillips' domestic refining system (13 locations) following the merger of Phillips and Conoco. Before joining Phillips at the time of its acquisition of Tosco in September 2001, Mr. Nimbley served in various positions with Tosco Corporation and its subsidiaries starting in April 1993.
 
Spencer Abraham
Spencer Abraham has served as a director of PBF Energy since October 2012. Mr. Abraham is the Chief Executive Officer and Chairman of the international strategic consulting firm The Abraham Group, which he founded in 2005. Prior to starting The Abraham Group, Mr. Abraham served as Secretary of Energy under President George W. Bush from 2001 through January 2005 and was a U.S. Senator for the State of Michigan from 1995 to 2001. Prior to serving as a U.S. Senator, Mr. Abraham held various other public and private sector positions in the public policy arena. Mr. Abraham serves as a director of Occidental Petroleum Corporation and GenOn Energy, Inc. and as Chairman of the Advisory Board of Lynx Global Realty Asset Fund Onshore LLC. He was previously a director of ICx Technologies and non-executive Chairman of Areva Inc. Mr. Abraham also serves on the boards or advisory committees of several private companies, including Deepwater Wind, LLC, Green Rock Energy, Sindicatum Sustainable Resources and C3. Mr. Abraham’s extensive political and financial experience in the energy sector, including as the Secretary of Energy of the United States, as a U.S. Senator and as a board member of various public companies in the oil and gas sector, provides him with unique and valuable insights into the industry in which we operate and the markets that we serve, and for these reasons we believe that Mr. Abraham is a valuable member of our board of directors.
 
Jefferson F. Allen
Jefferson F. Allen has served as a director of PBF Energy since its formation in November 2011 and has been a director of the Board of Directors of PBF LLC since March 2011. Mr. Allen serves as chairman of our audit committee for PBF. Mr. Allen has over 35 years experience in the oil industry. Before his retirement in 2005, Mr. Allen most recently served as the Chief Executive Officer of Premcor at the time of its sale to Valero in 2005. In addition, from 2002 until 2005 Mr. Allen served on Premcor’s Board of Directors and from 2002 until 2004 was Chairman of its Audit Committee. Prior to his service with Premcor, Mr. Allen was the Chief Financial Officer and a director of Tosco Corporation from 1990, and served as its President from 1995, until its merger with Phillips Petroleum Company in September 2001. Before joining Tosco, his previous energy industry experience was in the international exploration and production business for 14 years. Mr. Allen’s industry specific experience as a financial expert and board member of a public company, provides our board with a unique perspective and insight, and for these reason we believe Mr. Allen is a valuable member of our board of directors.
 
Wayne A. Budd
Wayne A. Budd has over 40 years of legal experience in the public and private sectors, and since 2004 is a Senior Counsel of Goodwin Procter LLP. Prior to that, he served as a Senior Executive Vice President and General Counsel and a Director of John Hancock Financial Services Inc. from 2000 to 2004. Mr. Budd served as Group President, New England, of Bell Atlantic Corporation (now Verizon Communications Inc.) from 1996 to 2000. He served as a Senior Partner of Goodwin Procter LLP from 1993 to 1996. Mr. Budd also served on the U.S. Sentencing Commission from 1994 to 1997, which he was appointed to by President Bill Clinton. From 1992 to 1993, Mr. Budd served as an Associate Attorney General of the United States, overseeing the Civil Rights, Environmental, Tax, Civil and Anti-Trust Divisions at the Department of Justice, as well as the Bureau of Prisons. From 1989 to 1992, he was the United States Attorney for the District of Massachusetts. He previously served as a director of Tosco Corp. and Premcor Inc. He currently serves as a director at McKesson Corporation. Mr. Budd is the past Chairman of the National Board of the American Automobile Association and currently serves as a director of the American Automobile Association of Southern New England. Mr. Budd’s extensive legal experience and as a board member of public entities, including in the refining sector, provides our board with a beneficial perspective and insight, and for these reasons we believe Mr. Budd is a valuable member of our board of directors.
 
Gene Edwards
Gene Edwards has over 35 years of experience in the energy and refining sectors. Most recently he retired from Valero in April of 2014 where he was Executive Vice President and Chief Development Officer. Mr. Edwards began his career with Valero as an Analyst in Planning and Economics in 1982 and then served as Director of Business Development; Director of Petrochemical Products; Vice President of Planning and Business Development; Senior Vice President of Supply, Marketing & Transportation; Senior Vice President of Planning, Business Development and Risk Management and as Senior Vice President of Product Supply and Trading. Prior to joining Valero, he was an energy analyst with Pace Consultants and a refinery process engineer with Citgo. He previously served as a director of CST Brands, a spin-off of Valero, from May to October 2013. Mr. Edwards has served as a director of Green Plains Energy since June 2014. Mr. Edwards’ decades of experience in all aspects of the refining sector provides our board with additional industry-specific knowledge from an individual deeply connected with the independent refining sector.
 
William Hantke
Mr. Hantke has served as a director of PBF Energy since February of 2016. He brings to PBF significant experience as a financial expert and board member of public entities, including those in the refining sector. From 2002 to 2005, Mr. Hantke served as the Executive Vice President and Chief Financial Officer of Premcor, Inc. Prior to his tenure at Premcor, Mr. Hantke served as the Corporate Vice President of Development of Tosco Corporation from 1999 to 2001. From 1993 to 1999, Mr. Hantke served as the Corporate Controller of Tosco, and from 1990 to 1993, he served as the Chief Financial Officer of Seminole Fertilizer Corporation, a wholly-owned subsidiary of Tosco. Mr. Hantke has served as a director of NRG Energy since 2006 and is currently the chair of its audit committee and a member of its compensation committee. He has previously served as a director of Texas Genco, LLC, Process Energy Solutions (where he was non-executive chairman) and a director and vice-chairman of NTR Acquisition Co., a petroleum refining acquisition vehicle.
 
Dennis M. Houston
Dennis M. Houston has served as a director of PBF Energy since its formation in November 2011 and has been a director of the Board of Directors of PBF LLC since June 2011. Mr. Houston has approximately 40 years experience in the oil and gas industry, including over 35 years with ExxonMobil and its related companies. At the time of his retirement from ExxonMobil in May 2010, Mr. Houston held the positions of Executive Vice President Refining & Supply, Chairman and President of ExxonMobil Sales & Supply LLC and Chairman of Standard Tankers Bahamas Limited. Mr. Houston’s experience also includes engineering and management positions in Exxon’s refining organization and positions in Lubes and Supply. Mr. Houston’s extensive operational experience in the oil and gas industry, including as a manager of a global refining organization, provides him with valuable insight into the markets in which we operate and provides a unique perspective to our board, and for these reasons we believe that Mr. Houston is qualified to serve on our board.
 
Edward F. Kosnik
Edward F. Kosnik has served as a director of PBF Energy since February 20, 2013. Mr. Kosnik serves on our audit committee. For almost 30 years he worked in various fields including banking, insurance, real estate, technology, manufacturing and energy, holding positions that included Chairman, President and CEO, and CFO. Before his retirement in 2001, he most recently served in positions including President and Chief Executive Officer of Berwind Corporation, a diversified, industrial real estate and financial services company, from 1997 until 2001. Previously he served as Executive Vice President and CFO of Alexander and Alexander Inc. from 1994 to 1997 and as Chairman, President and CEO of JWP Inc. from 1992 to 1994. In addition, Mr. Kosnik has served on the boards and audit committees of Steelpath MLP Funds Trust from January 2010 to December 2012, Semgroup Energy Partners LP from July 2008 to November 2009, Premcor Inc. from November 2004 to September 2005, and Buckeye Partners LP from December 1986 to September 2007. Mr. Kosnik also served on Marquette University’s Board of Trustees and its audit committee from September 2006 to September 2009. Mr. Kosnik’s experience as a financial expert and board member of public entities including in the refining and logistics sectors, provides our board with a beneficial perspective and insight, and for these reason we believe Mr. Kosnik is a valuable member of our board of directors.
 
Robert J. Lavinia
Mr. Lavinia has served as a director of PBF Energy since February 2016. He brings to PBF industry-specific experience as an executive and board member of a public refining company. He began his career at the Gulf Oil Corporation and Phibro Energy Corporation. In 1985, he took over as President and Chief Executive Officer of Hill Petroleum Company, Phibro’s refining division. In 1992, he joined Tosco Corporation, where he served as a Senior Vice President and the President of Tosco Marketing with over 6,000 gas and convenience stores in 32 states with more than 20,000 employees. From 2002 to 2006, he served on the board of Transcor SA, a Belgium-based company with trading operations around the world, and from 2005-2006, he served as Chairman of Pasadena Refining, a Transcor subsidiary. In 2007, he joined Petroplus Holdings AG, the largest European independent refining and wholesale marketing company and he became the CEO in March 2008. In September 2009, he retired from Petroplus and remained a board member until 2012. Mr. Lavinia was formerly a director at Big West Oil.
 
Eija Malmivirta
Eija Malmivirta has over 40 years of experience in the energy sector. Ms. Malmivirta served in various positions at Neste Oy from 1969 to 1996, most recently as an Executive Vice President, Head of Neste International Oil Trading and Supply. She served as the Chairman and principal owner of Merei Energy Oy Ltd., an oil trading company, from 1996 to 2002. Ms. Malmivirta served as a member of the Board of Directors of Kemira Oyj, a chemical company from 1997 to 2008, VR Group Ltd. (Finnish Railways) from 1993 to 2006, National Emergency Supply Agency from 1997 to 2009, all located in Helsinki, Finland. She was also a board member for Tosco Corporation from 1997 to 2001, Premcor from 2002 to 2004 and Petroplus from 2006 to 2011. Ms. Malmivirta’s extensive oil industry expertise and public entity board member experience, including in the refining sector, provides our board with added depth and strategic insight.




From: wiki

[TOSCO WAS BOUGHT IN 2001 BY PHILLIPS WHICH MERGED WITH CONOCO TO FORM CONOCO PHILLIPS IN 2002 AND LATER SPUN OFF ASSETS TO FORM PHILLIPS 66 IN 2012.]


Thomas D. O'Malley 
1942– 


COLOR CODE
PETROPLUS     PBF
PREMCOR     VALERO
TOSCO     CONOCO PHILLIPS
EXXONMOBIL



Fire erupts at Delaware City oil refinery

A fire ripped through part of a refinery in Delaware City on Friday afternoon.


From:  YAHOO

1. History of Tosco Corporation – FundingUniverse
        by David Lincoln 

Template Tosco was founded in 1955 under the name Oil Shale Corporation. The company was incorporated under the laws of the state of Nevada, but made its headquarters in the Los Angeles area.  The project won some early support from the U.S. government, but interest from other sources was meager and the initiative soon died out.

 in 1965 when it joined West Coast oil giant Atlantic Richfield in forming the Colony Shale Oil Project..  It sold part of its interest in Colony Shale Oil to Atlantic Richfield for $8 million, staggered some observers in the investment community by leveraging itself to the hilt, and then went on a buying spree. In 1970 it acquired the Signal Oil & Gas refinery in Bakersfield, California, for $22.5 million. In 1976 it acquired $222 million of Phillips Petroleum's West Coast property, including the giant Avon Refinery in Concord, California. These moves gave the company a refining capacity of more than 200,000 barrels per day, making it the third-largest independent refiner in the United States and the largest supplier of gasoline to independent marketers on the West Coast.  Morton Winston, a lawyer who became a full-time executive with the company in 1964, was named president in 1971 . Morton Winston was an anomaly in an industry in which most top managers had backgrounds in geology, engineering, or finance. As a graduate student in the early 1950s, he aspired to become a literary scholar and chairman of a college English department. Later, after a stint in the Coast Guard, he entered Harvard Law School. After graduating from Harvard in 1958, Winston spent a year clerking for Supreme Court Justice Felix Frankfurter, then joined a New York law firm that specialized in advising small, entrepreneurial companies. He made his first contacts with Oil Shale Corporation in 1961 and joined the company shortly thereafter.

As chief executive officer of Tosco, Winston made no effort to hide his unusual background in the humanities. He composed poetry in his spare time and encouraged his executives to memorize Bartlett's Quotations. Associates said that he conducted meetings not unlike a soft-spoken college professor conducting a class. But all the points that Winston earned on style would have gone for naught if the company had not fared well during his tenure. Despite his admission that Tosco had moved into the refining business rather later than it should have, the company nonetheless showed a tenfold increase in earnings between 1975 and 1980.

In 1980 the Atlantic Richfield Company sold its 60 percent share in Colony to Exxon Corporation for $300 million. Construction began at last on a processing plant that was scheduled to be completed in 1986 or 1987. Questions about the plant, however, soon presented themselves. Rising capital costs (from 1980 to 1982, Exxon and Tosco spent $400 million between them on Colony) and a levelling off in the price of crude oil raised doubts about the economic feasibility of the project. 

For its part, Tosco received $380 million worth of compensation from Exxon for its share of Colony. The initial agreement between the two companies had stipulated that Exxon would have to buy out its stake in the venture if it ever pulled out, and Tosco exercised that clause in the contract.

This attempt to recover from the Colony disaster was insufficient to forestall a major reorganization. With Tosco reeling from a first quarter loss of nearly $77 million and still saddled with more than $700 million in bank debt, Morton Winston stepped down as CEO in June 1983 and was replaced by Matthew Talbot. One of Talbot's first acts was to announce the layoffs of 15 top executives and the consolidation of Tosco's seven divisions into two.
The reorganization did little to ease Tosco's difficulties. Sagging crude oil and gasoline prices made things difficult for a company that suddenly found refining to be its sole source of support. Tosco lost over $677 million between 1983 and 1986, and, after buying out dissident shareholders inspired by Good, found itself so deeply in debt that its creditors decreed that it should hire investment banker Bear Stearns to help arrange a takeover. There were, however, no takers. The company's stock fell to $2.75 per share, down from its high of $45 in 1980. Feeling that a change of leadership was necessary, Tosco's directors forced Talbot to resign in June of 1986 and replaced him two months later with company chairman Clarence Frame. In the meantime, Tosco sold its Bakersfield refinery to Texaco for $22 million.
The next year 1988, Argus Energy, a Connecticut-based investment partnership, announced that it had acquired a 40-percent interest in Tosco. In 1989 the company acquired Seminole Fertilizer, but this did not stop the widespread takeover speculation and uncertainty over Tosco's status. Later that year, Argus Energy head man Thomas O'Malley, by now a Tosco director, succeeded Clarence Frame as chief executive officer.
One of the company's first actions under O'Malley was to announce that it was entertaining takeover bids. Tosco claimed that at least three multinational corporations made offers, but refused to announce the identity of the suitors. Informed speculation had it that one suitor was British Petroleum, which was said to be interested in establishing a presence on the West Coast through Tosco's Avon refinery. Neither party ever confirmed that this was so, however.
Tosco declared in 1991 that none of the offers it had received were satisfactory, and that it would remain independent. The company then declared that it would consolidate operations and cut administrative costs by closing down its headquarters in Santa Monica, California. Initially, Tosco declared that it would find a headquarters site in northern California, closer to the Avon refinery. But it ultimately wound up moving to Stamford, Connecticut, the home of Argus Energy.
Indeed, the move may have signalled that Tosco intended to shift geographical direction and develop a presence on the East Coast as significant as its presence on the West Coast. In December 1992 the company acquired Exxon's Bayway refinery[BUILT IN 1909], located in Linden, New Jersey, for $175 million. The acquisition made it the second-largest independent refiner in the United States.
Principal Subsidiaries: AZL Resources, Inc.; Diablo Service Corp.; Seminole Fertilizer Corp.; The Lion Group, Ltd.; The Oil Shale Corp.; Tosco Corp.; Tosco International Finance; Toscopetro Corp.; Tosco Trading, Transportation & Supply, Inc.; Western Hemisphere Corp.
Source: International Directory of Company Histories, Vol. 7. St. James Press, 1993.

COLONY OIL SHALE PROJECT
Over time the project was developed by a consortium of different companies until it was terminated by Exxon on 2 May 1982 a day which is known amongst locals as "Black Sunday".[1]

In 1969 Atlantic Richfield Company joined the project acquiring part of Tosco's stake.[5]

In 1974 Ashland Oil and Shell Oil Company joined the project.[7][9] In the late 1970s Standard Oil of Ohio, Cleveland Cliffs Iron Company, Shell and Ashaland Oil sold their shares to Atlantic Richfield Company.[7][10][11] As a result of these transactions Tosco owned 40% of shares and Atlantic Richfield Company owned 60% of shares in the project.
In 1980 Atlantic Richfield Company sold its share to Exxon for $300 million.[6] In 1981 the Colony Development started a construction of the commercial scale shale oil plant.[3] On 2 May 1982 Exxon announced the termination of the project because of low oil-prices and increased expenses laying off more than 2,000 workers resulting in the date becoming known among locals as "Black Sunday".[1][2][3] According to the shareholders agreement in a case of project termination Exxon had an obligation to buy out Tosco's shares. It paid $380 million worth of compensation.[6]


During its existence the project produced 270 thousand barrels (43×103 m3) of shale oil.[4][ WORTH ABOUT 5.4 MILLION AT $20 barrel]
At the moment of cancellation the estimated costs would exceed $5.5 billion in then-year dollars or about $10 billion in 2005 dollars.[3]



1. History of Tosco Corporation – FundingUniverse
Tosco Corporation is one of the largest independent refiners of petroleum products in the United States. Once a major player in American efforts to develop  ...

WWW.FUNDINGUNIVERSE.COM
2. Tosco Corporation - Wikipedia, the free encyclopedia
Tosco (The Oil Shale COrporation) was an independent US based petroleum refining and marketing corporation. It was founded in 1955 in Santa Monica, ...

 leaving Tosco unable to keep the venture viable in spite of a $1.1 million loan guarantee from the U.S. government. Exxon claimed the project's projected $6 billion price tag made the project no longer feasible, but Exxon was required to purchase Tosco's 40% share in the project as a result of their withdrawal.[2]

Acquisitions[edit]
In 1996, Tosco acquired the Circle K chain of convenience stores. In 1997, Tosco bought the rights to the Union 76brand of gas stations and the western United States refining and marketing operations from Unocal.[4]
Mergers[edit]
Tosco merged with Phillips Petroleum in 2001. [5] Phillips merged with Conoco in 2002 to become ConocoPhillips, who spun off the Circle K stores to Canadian-based Alimentation Couche-Tard.
1999 refinery accident[edit]
On February 23, 1999, four workers at the Avon Refinery in Concord were burned to death after they tried to replace a leaky oil pipe. The San Francisco Chronicle reported [6] that one Tosco employee, Anthony Creggett, claimed shortly after the fire that plant managers had refused a request by four workers to shut down the high-temperature distillation tower during the repairs on the pipe.



EN.WIKIPEDIA.ORG
3. Oil Merger: Phillips Buys Tosco for $7B - ABC News
With its $7 billion stock purchase of Tosco Corp., Phillips Petroleum Co. added considerable heft to its refining operations at a time when the oil industry is ...

ABCNEWS.GO.COM
4. Phillips Petroleum Agrees to Buy Tosco - latimes
Feb 5, 2001 ... Phillips Petroleum Co. said Sunday that it will acquire Tosco Corp. for $7 ... Combining with Tosco, Phillips would have a refining capacity of 1.7 ...

Tosco, already the No. 3 refiner with eight facilities, has two gasoline refineries in California--one in Wilmington, the other east of San Francisco--that turn out an average of 240,000 barrels a day, or about 21% of the state's output. Tosco is based in Stamford, Conn.
It also accounts for about 17% of gasoline sales in the state through its 2,100 stations under the "76" brand. Overall, it operates 6,400 gas stations in 32 states.


ARTICLES.LATIMES.COM
5. Tosco Refining California | Mesothelioma and Asbestos Jobsites
Tosco Refining California, an oil refinery with a location in Wilmington, California employed oil refinery workers that may have been exposed to asbestos and ...


Since the 1980s, however, the company has backed off those efforts and now focuses solely on standard petroleum-based fuels and phosphate-based fertilizers.
Tosco operates large refineries in Wilmington and Martinez, California (near Los Angeles).
Oil Shale Corporation in 1955. It was headquartered in Los Angeles. Over time, Oil Shale made some strategic alliances that allowed it to grow, including joining with Atlantic Richfield in 1965 and acquiring the Signal Oil and Gas refinery in Bakersfield in 1970

In the News
In February of 1999, Tosco's Martinez refinery was the site of an explosion in which four workers died. In November of that year, Tosco's Wilmington refinery was the site of a fire in a holding tank. No injuries were reported, and the blaze was contained.
Tiny particles of asbestos enter into the atmosphere, however, as asbestos-containing transite ages and becomes prone to crumbling. Asbestos when it is in this state is called friable, which is defined as easy to pulverize. In addition, industrial kilns often contained friable asbestos in insulation linings.
The Problem with Friable Asbestos
Asbestos fibers, when friable, can be readily dispersed into the environment. Medical conditions like asbestosis and cancer can result from the inhalation of asbestos. Another uncommon, and generally fatal, disease linked to asbestos is mesothelioma. The pleural variety of mesothelioma, one which affects the tissue that lies between the lungs and the pleural cavity, is the most common. When the airborne particles settle on food or drinks and are subsequently swallowed, pericardial or peritoneal mesothelioma can result, although they are less common than pleural mesothelioma.
Increased pressure from the press, medical scientists and citizen groups forced the creation of rules controlling how to use asbestos. The use of asbestos was more prevalent, however, when places like Tosco Corporation were built. Any asbestos that remains from then may still pose a health hazard if care is not taken during remodeling projects.
The Lurking Hazard of Asbestos
Asbestos-related diseases, unlike most work-related injuries, which are readily observed and known about soon after the incident, can take many, many years to develop. When a former employee starts showing symptoms such as breathlessness, pain in the chest or abdomen and chronic coughing, his or her physician might not immediately recognize asbestos exposure as a cause, leading to a delay in diagnosis. Men and women who were employed by or lived near oil refineries like Tosco Corporation's California facilities therefore should ask their doctors for mesothelioma information. Furthermore, spouses of these people are also in danger, as unless strict decontamination protocols, including the use of workplace-only clothing and on-site showers, were enforced, it was all too common for personnel to bring particles of asbestos on their skin, in their hair, or on their clothes. Mesothelioma surgery is available to some patients and can improve the quality of life.


Read more: http://www.mesothelioma.com/asbestos-exposure/jobsites/oil-refineries/tosco-refining-california.htm#ixzz46zpfWtti
WWW.MESOTHELIOMA.COM


6. Ownership of U.S. petroleum refineries has changed significantly ...
Jan 29, 2014 ... The ownership of refineries today reflects multiple changes since 2000. For example, in January 2000 Tosco (5th-largest U.S. refiner), Conoco ...

 the number of refineries and companies both declined over the same period, as the concentration of refining capacity among the top five companies increased from 38% in 2000 to 44% in 2013.

[THIS INDICATES THAT CONSOLIDATION AND ACQUISITION OCCURRING AMONG THE LARGEST REFINERS WITH FEWER REFINERIES,     SO WHY WERE THE NUMBER OF ACCIDENTS GOING UP]



WWW.EIA.GOV
7. Tosco Avon Refinery Petroleum Naphtha Fire - Investigations | the ...
On February 23, 1999, a fire occurred in the crude unit at Tosco Corporation. Avon oil refinery in Martinez, California. Workers were attempting to replace piping ...
Mar 28, 2001
Federal Investigation of Tosco Refinery Fire Finds Flawed Management Supervision

(Washington, DC - March 28, 2001) A fire at Tosco's Avon refinery in Martinez, California, could have been prevented by better management supervision of safety, according to the final report of the U.S. Chemical Safety & Hazard Investigation Board (CSB). The report culminates an exhaustive two-year investigation of the 1999 petroleum fire that claimed the lives of four workers. The Avon refinery was acquired by UDS Corporation last year.
According to Board Member Irv Rosenthal, "Better management of job planning and execution could have prevented this tragedy. Our investigation uncovered two root causes of the accident. First, Avon refinery management did not have an effective process for assessing the dangers of maintenance operations and implementing needed safeguards. Second, neither the parent Tosco Corporation nor the facility management had investigated or corrected a pattern of serious unsafe practices at the Avon refinery."
The incident occurred on February 23, 1999, two years after an explosion at the refinery killed one and injured 46 others. Management deficiencies were also a significant factor in that incident, according to a federal report.
The 1999 incident occurred as workers attempted to remove and replace a leaky petroleum pipe which was attached to an operating oil distillation tower, known as a fractionator. Over a 13-day period prior to the accident, workers had repeatedly tried to isolate and drain the pipe, but leaking and corroded shut-off valves hampered their efforts. At the time of the incident, the pipe still contained a significant volume of pressurized naphtha, a highly flammable petroleum mixture similar to gasoline. While workers were in the process of replacing the pipe, the naphtha was released and burst into flame, killing the four workers. At the time of the fire, workers were positioned on scaffolding up to a hundred feet off the ground and had limited means of escape



WWW.CSB.GOV
8. TOSCO CORPORATION v. KOCH INDUSTRIES INC | FindLaw
Tosco sold the Refinery to Alpha Oil Company (“Alpha”) in April 1986. Alpha then sold certain waste areas of the Refinery to Resource Recovery Company ...

Tosco purchased the Refinery from Sun in November 1980, and operated it for three years until June 1983.   The Refinery has not been in operation since that date. - See more at: http://caselaw.findlaw.com/us-10th-circuit/1418746.html#sthash.p4jTCI8e.dpuf


CASELAW.FINDLAW.COM
9. History of Premcor Inc. – FundingUniverse
Read about the history of Premcor Inc. Explore the company's history, profile, and timeline. Find the key facts you're looking for!
Premcor Inc. History

Address:
8182 Maryland Avenue, Suite 600 
St. Louis, Missouri 63105 
U.S.A.

Telephone: (314) 854-9696
Fax: (314) 854-1580

Website: www.premcorinc.com
Private Company 
Incorporated: 1932 as Clark Oil & Refining Corporation 
Employees: 2,000 
Sales: $4 billion (2000 est.) 
NAIC: 32411 Petroleum Refining
Key Dates:
1932:
Emory Clark buys first gas station in Milwaukee.
1981:
Clark sold to Apex.
1987:
Clark and Apex enter Chapter 11.
1988:
Clark bought by Horsham Corp.
1999:
Clark sheds retail unit, sells Clark brand name.
2000:
Company changes name to Premcor.
Company History:
Premcor Inc. is one of the United States' leading privately owned oil refiners. It operates four refineries, which primarily produce gasoline and diesel fuel. Its largest refinery is in Port Arthur, Texas, a historic facility that began operating in 1901 following the first discovery of oil in Texas. This facility produces jet fuel as well as diesel and gasoline and is one of the most technologically advanced refineries in the world. Premcor also owns a refinery in Lima, Ohio, which produces nearly a quarter of the gasoline bought in that state. Of its two Illinois refineries, one is located in Hartford, Illinois, just across the Mississippi from Premcor's St. Louis headquarters, and the other is in a suburb of Chicago, Blue Island. Combined capacity at Premcor's four refineries is 547,000 barrels per day. The company purchases crude oil for its refineries from petroleum producers worldwide. It has no oil production capacity itself. Premcor began as Clark Oil, a leading refiner and marketer of gasoline. It sold its product at thousands of Clark gas stations in the Midwest and bordering states. Premcor sold all of its retail business and the Clark brand name in 1999 and is no longer affiliated with Clark gas stations and stores. The company changed its name in 2000 to reflect its severance with Clark. Premcor is now owned by two major groups of shareholders. The largest stake is held by affiliates of the Blackstone Group, a New York City-based investment bank. The second largest stake is owned by Occidental Petroleum. Premcor operates four subsidiary companies. Port Arthur Coker Company L.P. and Port Arthur Finance Corp. are also affiliated with Occidental. Premcor's other major subsidiaries are Premcor USA Inc. and The Premcor Refining Group Inc.




In the mid-1990s, Clark began expanding through acquisition. The company purchased its Port Arthur, Texas refinery from Chevron in 1995, and then in 1998 bought a refinery in Lima, Ohio from BP Oil. The two acquisitions quadrupled the company's refining capacity. Meanwhile, ownership of the company changed. Horsham Corp. had changed its name to TrizecHahn. This company sold 80 percent of its stake in Clark to a New York-based investment company, the Blackstone Group. Occidental Petroleum acquired another large stake. Clark had been working on its retail marketing, selling off gas stations in some territories and trying to step up its presence in others through the late 1990s. In 1999, Clark Refining and Marketing announced that it would sell all of its retail operations, and remain only in the refining business. Clark's remaining 700 gas stations and 200 convenience stores were sold in December 1999, along with the Clark brand name. These were then operated by a company that took the name Clark Retail Enterprises Inc. Clark also sold its product distribution terminals in 1999. The company was pared down to running only its four refineries. It changed its name to Premcor in 2000, a name that was put together from 'premier' plus 'corporation.' Premcor stood as the fifth largest independent oil refiner in the United States, and the eleventh largest overall. The company planned to concentrate exclusively on its refinery business in the future, making significant investments in upgrading and expanding its existing facilities.

WWW.FUNDINGUNIVERSE.COM
10. Premcor - Wikipedia, the free encyclopedia
Premcor (formerly NYSE symbol PCO) was a Fortune 500 oil refinery group based in Greenwich, Connecticut. It operated five refineries, which are located in  ...

Premcor
From Wikipedia, the free encyclopedia
Premcor (formerly NYSE symbol PCO) was a Fortune 500 oil refinery group based in Greenwich, Connecticut. It operated five refineries, which are located in Port Arthur, Texas;Memphis, Tennessee; Lima, Ohio; Hartford, Illinois; and Delaware City, Delaware with a combined crude oil volume processing capacity of approximately 768,120 barrels per day (122,121 m3/d) (July, 2007).
Premcor was acquired by Valero in 2005. Valero would later sell the Lima facility to Husky Energy in July 2007 and close the Delaware City refinery in November 2009.


EN.WIKIPEDIA.ORG
11. Valero agrees to buy Premcor in $6.9 billion deal - Apr. 25, 2005
Apr 25, 2005 ... Valero Energy Corp. (VLO) confirmed that it agreed to acquire refiner Premcor Inc . (PCO) for about $6.9 billion in cash and stock.

Valero said it values the transaction at about $8 billion, including the assumption of about $1.8 billion of Premcor debt offset by about $800 million in cash.
After buying Premcor, Valero will be the largest refiner of crude oil in North America, surpassing Exxon Mobil Corp. (XOM)

The Wall Street Journal reported that Premcor's chairman, Thomas D. O'Malley, plans to step down when the deal closes, as does Jefferson F. Allen, its chief executive, and the report said Premcor would have no seats on the Valero board.
Valero noted that "there will be no changes to Valero's senior management or board of directors." In the press release, O'Malley said "I intend to remain a long-term and large shareholder of the new Valero."



MONEY.CNN.COM
12. Valero to buy Premcor for $8 billion - MarketWatch
Apr 25, 2005 ... DALLAS (MarketWatch) -- Valero Energy Corp. announced Monday it would buy its smaller rival Premcor in an $8 billion deal that would make ...

"Valero is paying up for Premcor ... and the rest of the refiners win with a high benchmark valuation for refineries," said analyst Jay Saunders of Deutsche Bank in a note to clients.
Saunders pointed out that Valero is paying around $9 million per daily barrel for the assets compared with recent deals of $4 million. The purchase price underscores the need for refiners to add capacity without taking the risk of building a new facility, which is costly and viewed as potentially uneconomic. See more on capacity.
"The Valero acquisition of Premcor (is) considered a further indication that refinery capacity is tight," said Tim Evans, senior market analyst at IFR Markets, in a note to clients.
The purchase price "is pretty close to what it would cost them to build new refineries, although it does bring them into Valero's book faster than new construction could be accomplished. Valero is likely looking to the long run here."
On Wall Street after the news, shares of Premcor PCO, -0.73% soared 18%, or $10.70, to close at a 52-week high of $69.70.





WWW.MARKETWATCH.COM
13. Premcor Refinery - Illinois Environmental Protection Agency
The Premcor refinery site occupies nearly 156 acres flanking the southwestern edge of Blue Island. Premcor-owned parcels are within an area bounded to the ...

Formerly known as the Clark-Blue Island Refinery, refining operations began at the site with the Great Lakes Refinery in the mid-1920s and continued until Premcor decided to close the refinery in 2001.

Due to the facility’s past history of petroleum releases in the two operating storage terminals (Areas 3 and 4) and Premcor’s pending renewal of their lease agreement with the Metropolitan Water Reclamation District of Greater Chicago (MWRD) for part of the Southwest Terminal, the Illinois EPA and Premcor agreed that the Terminals were the highest priority for environmental investigation. Investigations continue but data collected to date confirm that releases of petroleum products have occurred to soils and groundwater in the still-active storage terminals.

Demolition and dismantling of refinery units is nearly complete in this area enabling better and safer access for the field sampling teams. The initial sampling phases of the more streamlined Site Investigations (SIs) of Areas 1 and 2 are nearing completion


WWW.EPA.ILLINOIS.GOV
14. Petroplus - Wikipedia, the free encyclopedia
Petroplus Holdings AG was Europe's largest independent oil refiner by capacity. When, the now defunct company, was first formed in 1993 it was known as ...

Petroplus Holdings AG was Europe's largest independent oil refiner by capacity.[1] When, the now defunct company, was first formed in 1993 it was known as Petroplus International N.V. being based in the Netherlands. In August 1998, it was listed on theAmsterdam Stock Exchange. In April 2005, it was delisted from the Euronext Amsterdam stock exchange when the company was acquired by a holding company. In November 2006, the company went public on the Swiss Stock Exchange.

Petroplus AG
Type
Public

Traded as
SIX: PPHN

Industry Oil and gas

Headquarters Zug, Switzerland

Key people Thomas D. O'Malley, CEO
Karyn F. Ovelmen, CFO

Products Petroleum
Natural gas
Motor fuels
Aviation fuels

Services Service stations
Revenue  US$20 billion (2010)
Number of employees 1,750
Website www.petroplusholdings.com


Acquisitions[edit]
1997
In 1997, it acquired the Antwerp N.V. Refinery from the Daewoo Group.
2000
In May 2000, it bought the Cressier Refinery, in Cressier, Switzerland from Shell Switzerland. In December 2000, it bought the Teesside Refinery in Port Clarence from Phillips Petroleum Company.
2006
In May 2006, it bought the BRC Antwerp Refinery for $511m from Sovereign Holding Ltd (Bermuda).
2007
In March 2007, it bought the Ingolstadt Refinery from ExxonMobil for $425m. In June 2007, it bought the Coryton Refinery near London from BP for $1.4bn.
2008
In April 2008, it bought the Petit Couronne Refinery and Reichstett Refinery, located in France from Shell for $785m.
Financial problems[edit]
In December 2011 a $1bn credit line to the company was frozen by its bank lenders. The company was planning to shut down some refineries if negotiations to restore the credit failed. The chief executive said they would do all they could to avoid bankruptcy. [2] On the 24th of January 2012, Petroplus announced that they are filing for insolvency after it defaulted on $1.75 billion of senior notes and convertible bonds. [3]
Former Refineries[edit]
Antwerp N.V. Refinery (Belgium) sold to VTTI
BRC Antwerp Refinery (Belgium) sold to Gunvor
Coryton Refinery (UK) closed
Cressier Refinery (Switzerland) sold to Varo Energy
Ingolstadt Refinery (Germany) sold to Gunvor
Petit Couronne Refinery (France) closed
Reichstett Refinery (France) closed



EN.WIKIPEDIA.ORG
15. Petroplus to file for insolvency - BBC News
Jan 24, 2012 ... Swiss oil refiner Petroplus has said it will file for insolvency proceedings after failing to agree with creditors to extend deadlines on loan ...

Swiss oil refiner Petroplus has said it will file for insolvency proceedings after failing to agree with creditors to extend deadlines on loan repayments.

Shares in the company, which is Europe's largest independent oil refiner, were suspended on Monday.
Petroplus had its credit lines frozen by its lenders in December 2011.
Its credit rating was downgraded by Standard and Poor's earlier this month on fears of the company defaulting on its debt.
"We have worked hard to avoid this outcome, but were ultimately not able to come to an agreement with our lenders to resolve these issues given the very tight and difficult European credit and refining markets," said Petroplus chief executive Jean-Paul Vettier.
"We are fully aware of the impact that this will have on our workforce, their families and the communities where we have operated our businesses."



WWW.BBC.CO.UK
16. PBF Energy: Home
PBF Energy (“PBF”) is one of the largest independent petroleum refiners and suppliers of unbranded transportation fuels, heating oil, petrochemical feedstocks , ... 
 Delaware City, Delaware
The Delaware City refinery has a throughput capacity of 190,000 bpd and a Nelson complexity rating of 11.3. As a result of its configuration and petroleum refinery processing units, Delaware City has the capability to process a diverse heavy slate of crudes with a high concentration of high sulfur crudes making it one of the largest and most complex refineries on the East Coast.
The Delaware City refinery is located on a 5,000-acre site on the Delaware River, with the ability to accept crude by rail or waterborne cargoes.  Delaware City possesses an extensive distribution network of pipelines, barges and tankers, truck and rail for the distribution of its refined products.
Paulsboro, New Jersey
The Paulsboro refinery has a throughput capacity of 180,000 bpd and a Nelson complexity rating of 13.2. The Paulsboro refinery is located on approximately 950 acres on the Delaware River in Paulsboro, New Jersey, just south of Philadelphia and approximately 30 miles North of the Delaware City refinery. The Paulsboro and Delaware City refineries are the only two operating petroleum refineries on the East Coast with coking capacity.
The Paulsboro refinery processes a variety of medium and to heavy sour crude oils and predominantly produces gasoline, heating oil and aviation jet fuel. The refinery also manufactures Group I lubricant base oils. In addition to its finished clean products slate, Paulsboro produces asphalt and petroleum coke.
Toledo, Ohio
The Toledo refinery has a throughput capacity of approximately 170,000 bpd and a Nelson complexity rating of 9.2. Toledo processes a slate of light, sweet crudes from Canada, the Mid-continent, the Bakken region and the U.S. Gulf Coast. Toledo produces a high volume of finished products including gasoline and ultra-low sulfur diesel, in addition to a variety of high-value petrochemicals including nonene, xylene, tetramer and toluene.
The Toledo petroleum refinery is located on a 282-acre site near Toledo, Ohio, 60 miles south of Detroit. Major units at the Toledo refinery include an FCC unit, a hydrocracker, an alkylation unit and an UDEX unit. Crude is delivered to, and finished products are exported from, the Toledo refinery primarily through a network of pipelines.
New Orleans, Louisiana
The Chalmette Refinery, located outside of New Orleans, Louisiana, is a 189,000 barrel per day, dual-train coking refinery with a Nelson Complexity of 12.7 and is capable of processing both light and heavy crude oil. The facility is strategically positioned on the Gulf Coast with strong logistics connectivity that offers flexible raw material sourcing and product distribution opportunities, including the potential to export products.
The Chalmette refinery processes a variety of crude oils and predominantly produces gasoline, distillates and specialty chemicals.  The refinery distributes its products locally and exports to domestic and international markets through pipeline and maritime assets.

17. PBF Energy - Wikipedia, the free encyclopedia

PBF Energy
From Wikipedia, the free encyclopedia
PBF Energy (NYSE: PBF) is a petroleum refiner and supplier of unbranded transportation fuels, heating oils, lubricants. petrochemical feedstocks, and other petroleum products founded in 2008 with headquarters in Parsippany, New Jersey. The company's four refineries include one in Chalmette, Louisiana, Toledo, Ohio, one at the Port of Paulsboro in Gibbstown, New Jersey, and the Delaware City Refinery in Delaware City. It produces a range of products including gasoline, ultra-low-sulfur diesel (ULSD), heating oil, jet fuel, lubricants, petrochemicals and asphalt. [1][2][3]
PBF was formed in 2008 as a joint venture by Petroplus Holdings and the private equity companies Blackstone Group and First Reserve, each committing $667 million in equity.[4]In September 2010 Petroplus announced plans to sell its 32.62 percent stake to its partners for $91 million as PBF acquired the Paulsboro refinery from Valero Energy.[5][6] PBF then acquired the Toledo refinery from Sunoco in December 2010 for approximately $400 million.[7] PBF went public in December 2012 with a $533 million initial public offering.[8]In 2015 they acquired the Chalmette, Louisiana refinery.[9]
References[edit]
1. Jump up^










New Jersey company to buy Chalmette refinery from ExxonMobil, Venezuela
http://www.nola.com/business/index.ssf/2015/06/exxon_sells_chalmette_refining.html




PBF Energy Inc. of New Jersey has agreed to buy an oil refinery in Chalmette from co-owners ExxonMobil and Petrobras of Venezuela. (Chalmette Refining)
Print Email 
 By Jennifer Larino, NOLA.com | The Times-Picayune  
Email the author | Follow on Twitter 
on June 18, 2015 at 2:09 PM, updated June 18, 2015 at 3:28 PM 

A New Jersey energy company will buy the Chalmette oil refinery for $322 million from ExxonMobil and its partner, the state-owned Petroleos de Venezuela, the companies said Thursday (June 18). The new owner plans to re-hire refinery employees, though it is not clear how the deal will affect some 500 contractors at the site.
PBF Energy Inc., based in Parsippany, N.J., and one of the largest independent oil refiners in North America, has agreed to purchase the 189,000-barrel-per-day refinery as well as interests in chemical facilities, pipelines and other assets at the site.
A statement released by PBF Energy did not detail how the purchase would impact the refinery's workforce, though it appears leadership intends to extend job offers to many current employees.
"We are committed to the continued safe and environmentally responsible operations of the facility and look forward to welcoming Chalmette's well-trained and professional workforce to the PBF family," CEO Tom Nimbley said.
About 530 ExxonMobil employees and 500 contractors work at the refinery, according to figures provided by ExxonMobil.
PBF spokesman Michael Karlovich said the company intends to extend offers to all ExxonMobil employees. He said PBF would review the level of contract work needed to support safe operations at the facility.
The sale comes as Venezuela's government seeks ways to cover growing debt as low oil prices erode state revenues and a recession looms.
ExxonMobil and Petroleos de Venezuela each own a 50 percent stake in the refinery.
Chalmette Refining, built in 1915 on the site of a former plantation, is one of the largest employers in St. Bernard Parish. ExxonMobil operates the plant, though about a third of the oil refined there is produced in Venezuela.
The deal is PBF Energy's first refinery purchase on the Gulf Coast, expanding its refining capacity by 35 percent to more than 725,000 barrels per day.
PBR Energy operates refineries in Delaware, New Jersey and Ohio.
If regulators approve the deal, the new owners are expected to take over the Chalmette refinery later this year

.

EN.WIKIPEDIA.ORG
18. PBF: Summary for PBF Energy Inc. Class A Common - Yahoo! Finance
View the basic PBF stock chart on Yahoo! Finance. Change the date range, chart type and compare PBF Energy Inc. Class A Common against other companies.


[First qtr 16 expected to show downturn
Costs flat with margins down]

FINANCE.YAHOO.COM
PBF ST0CKCHART 1YR




19. PBF Energy Inc (PBF) Company Profile | Reuters.com
PBF Energy Inc., (PBF) incorporated on November 7, 2011, is a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical ...

The Company also commenced crude shipments via rail into a newly developed crude rail unloading facility at its Delaware City refinery. The Delaware City rail unloading facility allows the Company's East Coast refineries to source WTI-based crudes from Canada and the Midcontinent.

Markets | Tue Mar 22, 2016 7:23am EDT
Related: STOCKS, REGULATORY NEWS, MARKETS
BRIEF-Pbf Energy CEO Thomas O'malley's 2015 total compensation was $8.3 mln
Pbf Energy Inc -
* Says ceo thomas o'malley's fy 2015 total compensation $8.3 million versus $8.1 million in fy 2014 - sec filing Source text : 1.usa.gov/1RwOVUx Further company coverage: 
http://www.reuters.com/article/idUSFWN16U0A0?type=companyNews



WWW.REUTERS.COM
20. PBF Energy inks deal for Louisiana refinery, logistics assets - Oil ...
Jun 18, 2015 ... PBF Holding Co. LLC, a subsidiary of PBF Energy Inc., Parsippany, NJ, has entered an agreement with ExxonMobil Corp. and Petroleos de ...

WWW.OGJ.COM
21. Who is PBF Energy, the buyer of ExxonMobil's Torrance refinery?
Sep 30, 2015 ... PBF Energy executives Michael Karlovich, VP Corporate Communication, left, and Jeffrey Dill, President, Western Region, announce PBF ...

PBF was formed in 2008 as a private equity investment backed by hedge fund Blackstone, said co-founder Jeffrey Dill, who will become president of newly formed subsidiary PBF Energy Western Region LLC, which will hold and manage the company’s new Torrance assets.



WWW.DAILYBREEZE.COM
22. PBF:New York Stock Quote - PBF Energy Inc - Bloomberg Markets
Stock analysis for PBF Energy Inc (PBF:New York) including stock price, stock chart, company news, key statistics, fundamentals and company profile.



[PBF STOCK CHART KIND OF LOOKS LIKE EXXON]


WWW.BLOOMBERG.COM
23. Cheap Oil and Progress on a Major Acquisition Gave PBF Energy's ...
Dec 3, 2015 ... What: Shares of PBF Energy (NYSE:PBF) climbed more than 19% in November. A large part of the stock's success last month came on the back ...

Cheap Oil and Progress on a Major Acquisition Gave PBF Energy's Stock a 19% Boost in November
With the financing available for the independent refiner to acquire another refinery from ExxonMobil, investors have been gobbling up PBF's shares.
What: Shares of PBF Energy (NYSE:PBF) climbed more than 19% in November. A large part of the stock's success last month came on the back of the company's ability to secure financing or the pending acquisition of ExxonMobil's (NYSE:XOM) Torrence refinery in California. It also helps that the market is extremely lucrative for refiners for the past several quarters.
So what: This has been a pretty transformative year for PBF Energy. With the pending acquisition of the Torrance refining complex and the recently completed acquisition of Chalmette Refining -- also a former Exxonmobil facility -- PBF has increased its total refining capacity by 60% to 900,000 barrels per day. These two deals also make it the fifth largest independent refiner in the United States. 

PBF DATA BY YCHARTS
There were some questions whether PBF was going to be able to finance its Torrence deal attractively, especially since financing hasn't been easy to find lately for energy companies. On Nov. 17, the company announced that it had successfully priced $500 million worth of senior notes due in 2023 at 7%. It's not a great financing deal, but for a company of PBF's size and capital structure, it's a rate the company can live with. 







WWW.FOOL.COM
24. PBF Energy snaps up Gulf Coast refinery for $322 million | Fuel Fix
Jun 18, 2015 ... PBF Energy snaps up Gulf Coast refinery for $322 million. Posted by Rhiannon .... Image 1 of 21 | 20 biggest energy deals of last 20 years.

The company in 2011 considered buying the Texas City Refinery, which was then owned by BP Plc, according to Reuters reports.
The Chalmette Refinery, located outside of New Orleans, has the ability to crank out 189,000 barrels per day, and can process both light and heavy crude, according to PBF’s statement.


FUELFIX.COM
25. PBF Energy to Purchase the Torrance Refinery and Related ...
Sep 30, 2015 ... PBF Energy Inc. (NYSE:PBF) announced today that its subsidiary has signed a definitive agreement to purchase the 155000 barrel-per-day ...


Torrance refinery, and related logistics assets, from ExxonMobil. With the acquisition, PBF will increase its total throughput capacity to approximately 900,000 barrels per day. The purchase price for the assets is $537.5 million, plus working capital to be valued at closing. PBF expects to finance the transaction with a combination of cash, debt and equity.

Jeffrey Dill will transition to the role of President, PBF Energy Western Region LLC. Mr. Dill has been General Counsel of PBF since its inception in 2008 and his prior experience includes almost 10 years working in the refining and logistics industry in Southern California. In his new role, Mr. Dill will be responsible for managing PBF’s relationships with elected officials, community leaders and regulatory agencies in California.

WWW.BUSINESSWIRE.COM
26. PBF Energy Provides Update on Delaware City Refinery Operations
Feb 1, 2016 ... PARSIPPANY, N.J., Feb. 1, 2016 /PRNewswire/ -- PBF Energy Inc. (NYSE: PBF) announced today that its Delaware City Refinery experienced ...

PARSIPPANY, N.J., Feb. 1, 2016 /PRNewswire/ -- PBF Energy Inc. (NYSE: PBF) announced today that its Delaware City Refinery experienced a plant-wide, unplanned shutdown on January 24, 2016, due to a loss of power during a severe winter storm. The refinery was safely shutdown and there were no injuries. Given prevailing market conditions and current operational capability, the company has decided to move forward its scheduled turnaround of the Delaware City coker and other related units. Personnel are working to return non-affected units to reduced operations. We expect the refinery to complete its turnaround work by the end of the quarter.



WWW.PRNEWSWIRE.COM
27. PBF to Acquire Valero Energy Refinery in Paulsboro, N.J.
PBF Holding Company LLC on September 27 announced that it has entered into agreements to acquire the 185,000-barrel-per-day Paulsboro, N.J., refinery, ..
PBF’s principal owners are Petroplus Holdings A. G., Europe’s largest independent refiner, The Blackstone Group, and First Reserve Corporation. Petroplus has also announced that it plans to sell its investment in PBF to Blackstone and First Reserve.

.

WWW.MACHINERYLUBRICATION.COM
28. PBF Energy reports lower income - UPI.com
Feb 11, 2016 ... U.S. refiner PBF Energy said it was sharing the pain of its upstream counterparts with a reported fourth quarter income about 20 percent lower ...

WWW.UPI.COM
29. After-hours buzz: PBF Energy, Microsoft, Google & more - CNBC.com
Sep 30, 2015 ... Check out the companies making headlines after the bell Wednesday: PBF Energy, Microsoft, Google & more.

WWW.CNBC.COM
30. PBF Energy (PBF) Stock Price, Financials and News | Fortune 500
Methodology. Companies are ranked by total revenues for their respective fiscal years. Included in the survey are companies that are incorporated in the U.S. ...

FORTUNE.COM
31. PBF | Stock Price Quote for PBF Energy Inc - Barchart.com
Free stock quote for . Stock price, charts, stock information, technical opinions.

WWW.BARCHART.COM
32. PBF ENERGY INC. (PBF) IPO - NASDAQ.com
Company Name, PBF ENERGY INC. Company Address, 1 SYLVAN WAY PARSIPPANY, NJ 07054. Company Phone, 973-455-7500. Company Website ...

WWW.NASDAQ.COM
33. PBF Energy (PBF) to Purchase Chalmette Refinery, Other Assets for ...
Jun 18, 2015 ... PBF Energy Inc. (NYSE: PBF) announced today that its subsidiary has signed a definitive agreement to purchase Chalmette Refining, LLC, ...

WWW.STREETINSIDER.COM
34. PBF: PBF ENERGY INC Stock Quote & Analysis - Zacks.com
... INC PBF investment & stock information. Get the latest PBF ENERGY INC PBF detailed stock quotes, stock data, Real-Time ECN, charts, stats and more.

WWW.ZACKS.COM
35. PBF Logistics LP
Investor Relations - PBF Logistics LP, headquartered in Parsippany, New Jersey, ... growth-oriented master limited partnership formed by PBF Energy to own or ...

WWW.PBFLOGISTICS.COM
36. High Rail Costs Crimp PBF Energy & PBF Logistics - RealMoney.com
Mar 14, 2016 ... As the cost of importing crude is cheaper than the cost of rail transport, PBF Energy and its master limited partnership, PBF Logistics, are getting ...

REALMONEY.THESTREET.COM
37. PBF Energy buys fifth refinery with California deal - The News Journal
Sep 30, 2015 ... Delaware City Refinery owner PBF Energy said Wednesday it plans to buy ExxonMobil's damaged Torrance Refinery along the southern ...

WWW.DELAWAREONLINE.COM
38. What Do Analysts Expect from PBF Energy's 1Q16 Earnings ...
5 days ago ... PBF Energy (PBF) is expected to post its 1Q16 results on April 28, 2016. In 4Q15, PBF Energy's revenues missed Wall Street analysts' ...

MARKETREALIST.COM
39. What PBF Energy Gets With Its Purchase of Louisiana Refinery from ...
Jun 18, 2015 ... PBF Energy has agreed to purchase Chalmette Refining from co-owners Exxon Mobil and PetrĂ³leos de Venezuela.

247WALLST.COM
40. PBF Stock Price & News - PBF Energy Inc. - Barron's
View the latest PBF stock price with Barron's. Including historical share prices, analysis, earnings, cash flow and market valuation for PBF Energy Inc.

WWW.BARRONS.COM
41. Goldman Sachs: Buy Valero, PBF Energy, Sell Phillips 66 - Stocks to ...
Nov 23, 2015 ... Goldman Sachs's Neil Mehta has an update out on refining stocks Monday, in which he suggests investors buy Valero (VLO) and PBF Energy ...

BLOGS.BARRONS.COM
42. PBF PBF Energy Inc Class A XNYS:PBF Stock Quote Price News
Today's real-time PBF stock quote PBF Energy Inc Class A ticker symbol XNYS: PBF price, news, financial statements, historical, balance sheet.

WWW.MORNINGSTAR.COM
43. $PBF PBF Energy Inc. stock and investing information on StockTwits ...
Real-time trade and investing ideas on PBF Energy Inc. ($PBF) from the largest community of traders and investors.

STOCKTWITS.COM

1. Energy: Home
PBF Energy (“PBF”) is one of the largest independent petroleum refiners and suppliers of unbranded transportation fuels, heating oil, petrochemical feedstocks , ...

WWW.PBFENERGY.COM
2. Refineries | PBF Energy
The Paulsboro and Delaware City refineries are the only two operating ...

WWW.PBFENERGY.COM
3. News 2016 – PBF Energy
... Members PDF, DOCUMENT PDF. DATE 02/01/2016, TITLE PBF Energy Provides Update on Delaware City Refinery Operations PDF, DOCUMENT PDF ...

INVESTORS.PBFENERGY.COM
4. PBF's Delaware City catalytic cracker shut for at least a month ...
Aug 24, 2015 ... PBF's Delaware City catalytic cracker shut for at least a month -source ... NEW YORK Aug 24 A key gasoline-making unit at PBF Energy Inc's 182,200-barrel-per -day (bpd) Delaware City, ... an explosion and fire on Friday, a source familiar with plant operations said on Sunday. ... Prince: a life in photos ...

WWW.REUTERS.COM
5. Worker burned at Delaware City refinery - The News Journal
Nov 30, 2015 ... A man was hospitalized Sunday after a flash fire at the Delaware ... Buy Photo ... Officials of the refinery, which is currently owned by PBF Energy, reiterated they had a fire and that a person had been burned and hospitalized.

WWW.DELAWAREONLINE.COM
6. Delaware City Refinery fire under investigation - The News Journal
Aug 21, 2015 ... Delaware City Refinery fire is under investigation. ... (Photo: Courtesy of Chopper 6, 6abc News) ... Michael Karlovich, a vice president for refinery owner PBF Energy, in an email said the problem involved the factory's catalytic ...

WWW.DELAWAREONLINE.COM
7. Delaware City Refinery restarts fire damaged unit - The News Journal
Sep 23, 2015 ... Delaware City Refinery restarts fire damaged unit, cuts quarterly production outlook. ... (Photo: Courtesy of Chopper 6, 6abc News) ... PBF Energy late Wednesday reported that it had completed the repair and restart of an ...

WWW.DELAWAREONLINE.COM
8. Fire Rips Through Delaware Refinery - Oilpro
Aug 21, 2015 ... Delaware City Refinery; Photo: PFB Energy. PBF Energy Vice President Michael Karlovich told reporters around 3:00 pm local time Friday that ...

OILPRO.COM

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http://www.pbfenergy.com/board-of-directors

 
Thomas D. O'Malley
Thomas D. O’Malley has served as Executive Chairman of the Board of Directors of PBF Energy since its formation in November 2011, served as Executive Chairman of PBF LLC and its predecessors from March 2008 to February 2013 and was our Chief Executive Officer from inception until June 2010. Mr. O’Malley has more than 30 years experience in the refining industry. He served as Chairman of the Board of Petroplus Holdings A.G., listed on the Swiss Exchange, from May 2006 until February 2011, and was Chief Executive Officer from May 2006 until September 2007. Mr. O’Malley was Chairman of the Board and Chief Executive Officer of Premcor, a domestic oil refiner and Fortune 250 company listed on the NYSE, from February 2002 until December 2004, and continued as Chairman until its sale to Valero in August 2005. Before joining Premcor, Mr. O’Malley was Chairman and Chief Executive Officer of Tosco Corporation. This Fortune 100 company, listed on the NYSE, was the largest independent oil refiner and marketer of oil products in the United States, with annualized revenues of approximately $25.0 billion when it was sold to Philips Petroleum Company in September 2001. Mr. O’Malley’s extensive experience in and knowledge of the refining industry, as well as his proven leadership skills and management experience provides the board with valuable leadership, and for these reasons we believe Mr. O’Malley is qualified to serve as Chairman of our board of directors.
COLOR CODE
PETROPLUS     PBF
PREMCOR     VALERO
TOSCO     CONOCO PHILLIPS
EXXONMOBIL
 
Thomas Nimbley
Mr. Nimbley has served as PBF's Chief Executive Officer since June of 2010 and was appointed to the board of directors in October of 2014. Prior thereto, he served as a Principal for Nimbley Consultants LLC from June 2005 to March 2010, where he provided consulting services and assisted on the acquisition of two refineries. He previously served as Senior Vice President and Head of Refining for Phillips Petroleum Company and subsequently Senior Vice President and head of Refining for ConocoPhillips' domestic refining system (13 locations) following the merger of Phillips and Conoco. Before joining Phillips at the time of its acquisition of Tosco in September 2001, Mr. Nimbley served in various positions with Tosco Corporation and its subsidiaries starting in April 1993.
 
Spencer Abraham
Spencer Abraham has served as a director of PBF Energy since October 2012. Mr. Abraham is the Chief Executive Officer and Chairman of the international strategic consulting firm The Abraham Group, which he founded in 2005. Prior to starting The Abraham Group, Mr. Abraham served as Secretary of Energy under President George W. Bush from 2001 through January 2005 and was a U.S. Senator for the State of Michigan from 1995 to 2001. Prior to serving as a U.S. Senator, Mr. Abraham held various other public and private sector positions in the public policy arena. Mr. Abraham serves as a director of Occidental Petroleum Corporation and GenOn Energy, Inc. and as Chairman of the Advisory Board of Lynx Global Realty Asset Fund Onshore LLC. He was previously a director of ICx Technologies and non-executive Chairman of Areva Inc. Mr. Abraham also serves on the boards or advisory committees of several private companies, including Deepwater Wind, LLC, Green Rock Energy, Sindicatum Sustainable Resources and C3. Mr. Abraham’s extensive political and financial experience in the energy sector, including as the Secretary of Energy of the United States, as a U.S. Senator and as a board member of various public companies in the oil and gas sector, provides him with unique and valuable insights into the industry in which we operate and the markets that we serve, and for these reasons we believe that Mr. Abraham is a valuable member of our board of directors.
 
Jefferson F. Allen
Jefferson F. Allen has served as a director of PBF Energy since its formation in November 2011 and has been a director of the Board of Directors of PBF LLC since March 2011. Mr. Allen serves as chairman of our audit committee for PBF. Mr. Allen has over 35 years experience in the oil industry. Before his retirement in 2005, Mr. Allen most recently served as the Chief Executive Officer of Premcor at the time of its sale to Valero in 2005. In addition, from 2002 until 2005 Mr. Allen served on Premcor’s Board of Directors and from 2002 until 2004 was Chairman of its Audit Committee. Prior to his service with Premcor, Mr. Allen was the Chief Financial Officer and a director of Tosco Corporation from 1990, and served as its President from 1995, until its merger with Phillips Petroleum Company in September 2001. Before joining Tosco, his previous energy industry experience was in the international exploration and production business for 14 years. Mr. Allen’s industry specific experience as a financial expert and board member of a public company, provides our board with a unique perspective and insight, and for these reason we believe Mr. Allen is a valuable member of our board of directors.
 
Wayne A. Budd
Wayne A. Budd has over 40 years of legal experience in the public and private sectors, and since 2004 is a Senior Counsel of Goodwin Procter LLP. Prior to that, he served as a Senior Executive Vice President and General Counsel and a Director of John Hancock Financial Services Inc. from 2000 to 2004. Mr. Budd served as Group President, New England, of Bell Atlantic Corporation (now Verizon Communications Inc.) from 1996 to 2000. He served as a Senior Partner of Goodwin Procter LLP from 1993 to 1996. Mr. Budd also served on the U.S. Sentencing Commission from 1994 to 1997, which he was appointed to by President Bill Clinton. From 1992 to 1993, Mr. Budd served as an Associate Attorney General of the United States, overseeing the Civil Rights, Environmental, Tax, Civil and Anti-Trust Divisions at the Department of Justice, as well as the Bureau of Prisons. From 1989 to 1992, he was the United States Attorney for the District of Massachusetts. He previously served as a director of Tosco Corp. and Premcor Inc. He currently serves as a director at McKesson Corporation. Mr. Budd is the past Chairman of the National Board of the American Automobile Association and currently serves as a director of the American Automobile Association of Southern New England. Mr. Budd’s extensive legal experience and as a board member of public entities, including in the refining sector, provides our board with a beneficial perspective and insight, and for these reasons we believe Mr. Budd is a valuable member of our board of directors.
 
Gene Edwards
Gene Edwards has over 35 years of experience in the energy and refining sectors. Most recently he retired from Valero in April of 2014 where he was Executive Vice President and Chief Development Officer. Mr. Edwards began his career with Valero as an Analyst in Planning and Economics in 1982 and then served as Director of Business Development; Director of Petrochemical Products; Vice President of Planning and Business Development; Senior Vice President of Supply, Marketing & Transportation; Senior Vice President of Planning, Business Development and Risk Management and as Senior Vice President of Product Supply and Trading. Prior to joining Valero, he was an energy analyst with Pace Consultants and a refinery process engineer with Citgo. He previously served as a director of CST Brands, a spin-off of Valero, from May to October 2013. Mr. Edwards has served as a director of Green Plains Energy since June 2014. Mr. Edwards’ decades of experience in all aspects of the refining sector provides our board with additional industry-specific knowledge from an individual deeply connected with the independent refining sector.
 
William Hantke
Mr. Hantke has served as a director of PBF Energy since February of 2016. He brings to PBF significant experience as a financial expert and board member of public entities, including those in the refining sector. From 2002 to 2005, Mr. Hantke served as the Executive Vice President and Chief Financial Officer of Premcor, Inc. Prior to his tenure at Premcor, Mr. Hantke served as the Corporate Vice President of Development of Tosco Corporation from 1999 to 2001. From 1993 to 1999, Mr. Hantke served as the Corporate Controller of Tosco, and from 1990 to 1993, he served as the Chief Financial Officer of Seminole Fertilizer Corporation, a wholly-owned subsidiary of Tosco. Mr. Hantke has served as a director of NRG Energy since 2006 and is currently the chair of its audit committee and a member of its compensation committee. He has previously served as a director of Texas Genco, LLC, Process Energy Solutions (where he was non-executive chairman) and a director and vice-chairman of NTR Acquisition Co., a petroleum refining acquisition vehicle.
 
Dennis M. Houston
Dennis M. Houston has served as a director of PBF Energy since its formation in November 2011 and has been a director of the Board of Directors of PBF LLC since June 2011. Mr. Houston has approximately 40 years experience in the oil and gas industry, including over 35 years with ExxonMobil and its related companies. At the time of his retirement from ExxonMobil in May 2010, Mr. Houston held the positions of Executive Vice President Refining & Supply, Chairman and President of ExxonMobil Sales & Supply LLC and Chairman of Standard Tankers Bahamas Limited. Mr. Houston’s experience also includes engineering and management positions in Exxon’s refining organization and positions in Lubes and Supply. Mr. Houston’s extensive operational experience in the oil and gas industry, including as a manager of a global refining organization, provides him with valuable insight into the markets in which we operate and provides a unique perspective to our board, and for these reasons we believe that Mr. Houston is qualified to serve on our board.
 
Edward F. Kosnik
Edward F. Kosnik has served as a director of PBF Energy since February 20, 2013. Mr. Kosnik serves on our audit committee. For almost 30 years he worked in various fields including banking, insurance, real estate, technology, manufacturing and energy, holding positions that included Chairman, President and CEO, and CFO. Before his retirement in 2001, he most recently served in positions including President and Chief Executive Officer of Berwind Corporation, a diversified, industrial real estate and financial services company, from 1997 until 2001. Previously he served as Executive Vice President and CFO of Alexander and Alexander Inc. from 1994 to 1997 and as Chairman, President and CEO of JWP Inc. from 1992 to 1994. In addition, Mr. Kosnik has served on the boards and audit committees of Steelpath MLP Funds Trust from January 2010 to December 2012, Semgroup Energy Partners LP from July 2008 to November 2009, Premcor Inc. from November 2004 to September 2005, and Buckeye Partners LP from December 1986 to September 2007. Mr. Kosnik also served on Marquette University’s Board of Trustees and its audit committee from September 2006 to September 2009. Mr. Kosnik’s experience as a financial expert and board member of public entities including in the refining and logistics sectors, provides our board with a beneficial perspective and insight, and for these reason we believe Mr. Kosnik is a valuable member of our board of directors.
 
Robert J. Lavinia
Mr. Lavinia has served as a director of PBF Energy since February 2016. He brings to PBF industry-specific experience as an executive and board member of a public refining company. He began his career at the Gulf Oil Corporation and Phibro Energy Corporation. In 1985, he took over as President and Chief Executive Officer of Hill Petroleum Company, Phibro’s refining division. In 1992, he joined Tosco Corporation, where he served as a Senior Vice President and the President of Tosco Marketing with over 6,000 gas and convenience stores in 32 states with more than 20,000 employees. From 2002 to 2006, he served on the board of Transcor SA, a Belgium-based company with trading operations around the world, and from 2005-2006, he served as Chairman of Pasadena Refining, a Transcor subsidiary. In 2007, he joined Petroplus Holdings AG, the largest European independent refining and wholesale marketing company and he became the CEO in March 2008. In September 2009, he retired from Petroplus and remained a board member until 2012. Mr. Lavinia was formerly a director at Big West Oil.
 
Eija Malmivirta
Eija Malmivirta has over 40 years of experience in the energy sector. Ms. Malmivirta served in various positions at Neste Oy from 1969 to 1996, most recently as an Executive Vice President, Head of Neste International Oil Trading and Supply. She served as the Chairman and principal owner of Merei Energy Oy Ltd., an oil trading company, from 1996 to 2002. Ms. Malmivirta served as a member of the Board of Directors of Kemira Oyj, a chemical company from 1997 to 2008, VR Group Ltd. (Finnish Railways) from 1993 to 2006, National Emergency Supply Agency from 1997 to 2009, all located in Helsinki, Finland. She was also a board member for Tosco Corporation from 1997 to 2001, Premcor from 2002 to 2004 and Petroplus from 2006 to 2011. Ms. Malmivirta’s extensive oil industry expertise and public entity board member experience, including in the refining sector, provides our board with added depth and strategic insight.