PBF Energy Inc. announced today that it completed the acquisition of the Martinez refinery, and related logistics assets, from Shell Oil Products US. The purchase price for the assets was $960.0 million plus the value of hydrocarbon inventory. The company will operate as ‘Martinez Refining Company’.
“We welcome Martinez’s professional workforce to the PBF family,” said PBF’s Chairman and Chief Executive Officer Tom Nimbley. “We are committed to maintaining the high operational standards of the refinery and, through continued safe, reliable and environmentally responsible operations, earning the privilege of being a respected member of the Martinez and Contra Costa County communities.” Mr. Nimbley continued, “The acquisition of Martinez is a significant strategic step for PBF as we expand our West Coast operations. Martinez is a top-tier asset, is a perfect complement to our existing assets and provides increased opportunities for PBF’s West Coast operations to deliver value.”
The 157,000 barrel-per-day, dual-coking Martinez refinery is located on an 860-acre site in the City of Martinez, 30 miles northeast of San Francisco, California. The refinery is a high-conversion facility with a Nelson Complexity Index of 16.1, making it one of the most complex refineries in the United States. The facility includes a number of high-quality onsite logistics assets including a deep-water marine facility, product distribution terminals and refinery crude and product storage facilities with approximately 8.8 million barrels of shell capacity.
We are pleased to announce the next chapter in our refinery’s storied, 105-year history. Effective February 1, we usher in a new era as “Martinez Refining Company,” featuring the new logo, below.
Martinez Refining Company LLC (Martinez Refinery) is a subsidiary of PBF Energy Inc. (PBF), a publicly-traded (NYSE-PBF) Fortune 250 company that concentrates on refining and logistics. Martinez is the sixth refinery in PBF’s portfolio; the others are in New Jersey, Delaware, Ohio, Louisiana, and Southern California.
We are also introducing and welcoming our new Refinery Manager, Jerry Forstell. This is a homecoming for Jerry, who worked at Martinez from 1992-2003, then returned frequently as General Manager of Turnarounds and Projects. In total, Jerry has 35 years in the refining and chemicals industries, 31 of those with Shell.
After retiring from Shell in 2015, Jerry joined PBF Energy as Chalmette Refinery Manager in St. Bernard Parish, LA near New Orleans. He earned his Bachelor’s degree in Mechanical Engineering from Georgia Institute of Technology. Jerry and his wife, Corinne, have three grown children spread throughout the country.
“I am truly thrilled to be back at Martinez with so many of my former colleagues, while looking forward to getting to know the rest of the workforce and our neighbors,” Jerry says. “I deeply respect our rich history and value our commitment to our community. I especially look forward to leading the refinery through the coming transition while maintaining the outstanding legacy and traditions that Shell established over the past 105 years.
PBF offered jobs to all eligible refinery employees, and encourages continuing development of our professional well-trained and qualified workforce. We remain dedicated to being a valued member of our community through open, honest, and timely communication, while supporting the local economy with jobs and purchases of services and supplies.
Our Martinez Refinery Family has seen a lot of change, but there are certain constants: our priorities remain “People, Planet, Performance,” and our safety mission, which we call “Goal Zero”, continues as our guiding force. Together, these programs keep us focused on working safely and operating reliably and in an environmentally responsible manner, which in turn helps us earn the right to operate in the communities that host us. This commitment to our community is another constant. We want to share with you some highlights from the past year…as we look forward to 2020.
We had a very successful “Run for Education” in 2019, which PBF also supported. Our team of volunteers are already preparing for our refinery’s signature event the, “MRC/MEF Run for Education” to be held September 27. Since 2003 our run has raised $916,000 for the Martinez Education Foundation, so we are excited to “Run to a Million” in this year’s event. We hope you’ll join us for our Family Fun Night on September 26. The Kiwanis and Rotary Clubs always host an enjoyable evening at the Clubhouse.
We congratulate 2019 Alhambra High School graduate, Jessica McCauley, who earned the Shell Martinez Refinery STEM Scholarship in May. We are also honored to support the Boys & Girls Clubs of Martinez in establishing a “Teen Center.” Our Martinez youth prove the future is brighter with their talents.
You may have seen our Refinery Fire Department personnel at various community events this year, including the “4th of July Hometown Parade,” “National Night Out,” and the “Holiday Frolic and Tree Lighting.” We also hope you saw the Food Bank of Contra Costa and Solano’s Holiday Food Drive donation barrels. In a span of three days, more than 30 refinery employees wrapped all the food barrels that were distributed throughout Contra Costa and Solano Counties.
And finally, “Save Mount Diablo” has published its list of free, public, guided hikes sponsored by the refinery, and all the information is on their website.
Our new owner has pledged to continue our strong commitment to you, our refinery, and our community. We invite you to contact us anytime you have a question or concern. Our weekday phone number is still (925) 313-3777. Our after-hours number remains (925) 313-3601.
Our employees live, work, and play in Martinez, and we treasure our relationship with our community neighbors. We are grateful for your support of the Martinez Refinery and as always, look forward to hearing from you.
External Relations Manager – Martinez Refinery