PBF Energy Expects Full Capacity Restoration at Martinez Refinery by March 2026
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Newsfilter
- Reconstruction Progress: PBF Energy's rebuild activities at the Martinez refinery, following the February 2025 fire, are now expected to advance into February 2026, with plans to achieve full operational rates of 157,000 barrels per day by early March, despite previous projections for a year-end 2025 restart, demonstrating the company's adaptability in crisis management.
- Insurance Coverage: The company anticipates that the fire-related restoration costs will largely be covered by insurance, with a deductible and retentions totaling $30 million, indicating robust financial management that mitigates economic pressures during the rebuilding process.
- Insurance Payouts: In 2025, PBF received $893.5 million in insurance reimbursements, showcasing the company's financial resilience in crisis response, with expectations for future payments to further offset financial losses from downtime, enhancing competitive positioning in the market.
- 2026 Production Outlook: PBF expects daily throughput ranges for 2026 to reach 300,000 to 320,000 barrels on the East Coast, 135,000 to 145,000 barrels in the Mid-continent, 170,000 to 180,000 barrels in the Gulf Coast, and 280,000 to 300,000 barrels on the West Coast, reflecting the company's proactive response to market demand and strategic planning.
Analyst Views on PBF
Wall Street analysts forecast PBF stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PBF is 28.73 USD with a low forecast of 21.00 USD and a high forecast of 42.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
1 Buy
4 Hold
6 Sell
Moderate Sell
Current: 27.120
Low
21.00
Averages
28.73
High
42.00
Current: 27.120
Low
21.00
Averages
28.73
High
42.00
About PBF
PBF Energy Inc. is an independent refiner in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. The Company operates as a refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products. It operates through two segments: Refining and Logistics. The Refining segment includes the operations of its oil refineries and related facilities in Delaware City, Delaware, Paulsboro, New Jersey, Toledo, Ohio, Chalmette, Louisiana, Torrance, California and Martinez, California. The Logistics segment includes the operations of PBF Logistics LP, an indirect wholly owned subsidiary of PBF Energy and PBF LLC, which owns or leases, operates, develops, and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities, and similar logistics assets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
