With the company's Martinez, Calif., refinery back in full operation following a fire last year, PBF Energy plans to move a planned turnaround on its hydrocracker complex to the end of the third quarter while also delaying turnaround work at the Chalmette, La., and Toledo, Ohio, refineries until next year, company officials said Thursday.
The moves come as recent strong refining margins helped the company report sharply higher earnings for the second quarter of the year. PBF reported adjusted net income of $912.9 million for the quarter, compared to a loss of $5.3 million during the same time last year. Adjusted Ebitda was $1.239.9 billion compared to $69.5 million in 2Q 2025.
The company saw a gross refining margin of $23.40/bbl during the quarter, nearly three times higher than the $8.38/bbl during the same quarter last year.
"The underlying fundamentals for refining remain incredibly strong with tight global supply and demand balances," said PBF President and CEO Matt Lucey, who said he expects current conditions to continue through the year and into 2027.
Lucey said PBF's performance during the quarter was aided in part by the 157,000 b/d Martinez refinery's return to producing a full product slate in May. The refinery had been damaged in a February 2025 fire.
The refinery had been operating at a reduced capacity for more than a year after the fire, with PBF Head of Refining Mike Bukowski saying the refinery's hydrocracker had been "doing the heavy lifting in terms of keeping the balance of the refinery operating.
"With that said, we will be conducting the upcoming hydrocracker turnaround at Martinez beginning in the third quarter and finishing in October," Bukowski said. That project had originally been planned for the second quarter of the year and was one of five major turnarounds PBF had planned for 2026.
The company completed turnaround work at the 166,200 b/d Torrance refinery near Los Angeles in the first quarter. Bukowski said PBF was also repurchasing two hydrogen plants serving the refinery from Air Products.
"The hydrogen plants in Torrance are heavily integrated into the operation of the refinery, and we feel that owning and operating those assets will improve the overall reliability of Torrance," he said.
Planned work at the company's 165,000 b/d Paulsboro, N.J., refinery is expected to begin in late fall, he said. The work is expected to last 30 to 35 days.
With refining margins near record levels and global refined product supplies tight due to the ongoing wars in Iran and Russia, the company said that after "diligent review" it has planned to move turnarounds at the 180,000 b/d Toledo and its 197,000 b/d Chalmette refineries until 2027.
The company performed unplanned work at the Toledo refinery during the second quarter, which it said "afforded us the opportunity to safely extend the run-time for our FCC complex." The turnaround work is expected to involve maintenance on the Fluid Catalytic Cracking unit and to last 50 to 60 days.
The Chalmette work will involve the refinery's crude unit and coker and is expected to last 50 to 55 days. The refinery saw a fire at an unspecified unit in May but was able to continue to produce fuel at planned rates, the company said at the time.
PBF projected throughput at its Paulsboro and Delaware City, Del., plants to average between 300,000 to 320,000 b/d in the third quarter. It expects throughput at its Toledo refinery will average between 155,000 to 165,000 b/d during the quarter. Throughput at the Chalmette refinery is expected to average between 175,000 and 185,000 b/d. The company's West Coast refineries are expected to see average throughput of 270,000 to 290,000 b/d.
Total company throughput is expected to average between 900,000 and 960,000 b/d.