#USA #logistics #Parsippany #PBF Energy #Terminal Assets

PBF Energy Completes Terminal Asset Sale

On September 30, 2025, PBF Energy Inc. (NYSE: PBF) announced the successful closure of its terminal asset sale, previously settled on April 30, 2025. This strategic move sees the company divest two refined product terminal facilities located in Philadelphia, PA, and Knoxville, TN, generating $175 million in cash. The combined asset sale includes 38 storage tanks, offering an approximate storage capacity of 1.9 million barrels, along with their associated truck racks.

Karen Davis, CFO of PBF Energy, expressed enthusiasm regarding the transaction, stating, "We are pleased to have monetized these non-core assets and, in conjunction, increased liquidity for PBF. As stewards of the company's capital, we continuously review our portfolio for opportunities to maximize value for investors." This sale forms part of PBF Energy's ongoing efforts to enhance its financial standing and operational focus by shedding assets that do not align closely with its core business strategy.

The transaction's completion took place as part of PBF's broader initiative to optimize operational efficiency and capitalize on strategic acquisitions. Barclays served as the exclusive financial advisor during this transaction, ensuring a structured and beneficial process for both the company and its investors.

As one of the leading independent refiners in North America, PBF Energy operates several oil refineries and related facilities across various states including California, Delaware, Louisiana, New Jersey, and Ohio. The company’s mission emphasizes safe, reliable, and environmentally responsible operations while concurrently working towards superior returns for its stakeholders.

The announcement reinforced PBF's commitment to focusing on its primary refining operations, which it considers instrumental for its path to sustainable growth. The company is also engaged in a joint venture, controlling 50% of St. Bernard Renewables, which is dedicated to producing next-generation sustainable fuels—a move aligned with the global push for cleaner energy sources.

The recent sale of terminal assets is seen as a decisive step in PBF Energy's strategy to expand its liquidity, thereby enabling the company to reposition itself for long-term success. Future endeavors will include analyzing performance results and making further investments in core operations that promote both sustainability and profitability.

In light of the potential outlook, PBF Energy's management will continue to explore avenues that maximize value while being cognizant of market conditions and evolving regulatory landscapes. The company aims to remain agile, quickly adapting to shifts in the energy market and technology, thus securing its position in an increasingly competitive sector.

PBF Energy will keep its investors updated concerning subsequent developments, including plans for the potential restart of the Martinez refinery following a fire incident earlier this year. This situation, alongside the terminal asset sale, exemplifies the dynamic nature of PBF Energy's operational strategies and their engagement in enhancing shareholder value.

In summary, the closure of these terminal asset sales marks a pivotal moment for PBF Energy, as it strengthens its financial position and exemplifies a strategic refocus on core operations that are pivotal to current and future success.