Equilon Enterprises LLC, a Shell Oil Products US, a subsidiary of Royal Dutch Shell plc introduced that it has formally closed on the sale of Shell’s Martinez Refinery in California to PBF Holding Company LLC (PBF), a subsidiary of PBF Energy, Inc., in alternate for $1.2 billion which incorporates the refinery and stock. The deal additionally contains crude oil provide and product offtake agreements, and different changes.
Shell may be very pleased with the connection we’ve constructed and maintained with town and other people of Martinez over the numerous years we’ve operated side-by-side with the Martinez neighborhood making a number of notable achievements on security, reliability, efficiency, and neighborhood involvement.
As we flip over possession of the Martinez Refinery to PBF, we provide our many due to the City and neighborhood of Martinez for all they’ve carried out to assist and accomplice with Shell and our staff during the last 100 years.
PBF Energy Inc., headquartered in New Jersey, will now function the power beneath the identify Martinez Refining Co. LLC. The firm additionally operates a refinery in Torrance, in southern California, in addition to in New Jersey, Delaware, Ohio and Louisiana.
(Source and picture: Shell/Martinez Refinery)
The publish AFTER 105 YEARS OF OWNERSHIP SHELL SELLS MARTINEZ REFINERY FOR $1.2 BILLION appeared first on Energy Global News.