Independent U.S. refiner PBF Energy (PBF.N) said on Thursday it is starting repairs at its fire-damaged 156,400-barrel-per-day (bpd) Martinez refinery in California and estimates the cost of repairs to be $30 million.
The fire broke out on February 1 near a cat feed hydrotreater, which uses hydrogen to remove sulfur from gas oil used to make unfinished gasoline, company executives said during its fourth-quarter earnings call.
The shutdown would impact production in the first quarter, they had said.
The company said it expects certain units, including the crude unit, to restart early in the second quarter of 2025, with the remaining units restarting by the fourth quarter.
Total throughput during the first stage is expected to be in the range of 85,000 bpd to 105,000 bpd.
PBF expects the costs to be largely covered by insurance, and its business interruption insurance should offset the financial loss resulting from the downtime.
(Reporting by Seher Dareen; Editing by Tasim Zahid)
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