PBF Energy has advanced the rebuild of its 157,000‑barrel‑per‑day Martinez refinery in California, with work now scheduled to enter a full‑scale restart in February and full operating rates expected by the beginning of March 2026.
The refinery, which suffered a fire on February 1, 2025, is one of the most complex U.S. refineries with a Nelson Complexity Index of 16.1. PBF has received $893.5 million in insurance payouts, covering the majority of restoration costs after a $30 million deductible, and the company is proceeding with a phased restart that will allow production to ramp up as utility systems and idled equipment are commissioned and quality assurance is satisfied.
Current operations are running between 85,000 and 105,000 barrels per day, a range that reflects the refinery’s partial capacity utilization while repairs continue. The phased approach will enable the plant to gradually increase throughput, ensuring that safety and environmental standards are met before full production is resumed.
The restart is strategically significant for PBF because California’s gasoline market is tightening, with other refineries slated to close by 2026. By returning the Martinez plant to full capacity, PBF will be better positioned to capture widening light‑heavy crude spreads and meet the state’s demand for California‑blend gasoline, which is difficult to source elsewhere.
Matt Lucey, PBF’s President and CEO, said the company is focused on safely restoring the refinery’s operations and thanked the local community, regulators, and the Bay Area Air District for their support. He emphasized that the restart is a key component of PBF’s broader Refining Business Improvement initiative, which aims to generate significant annualized cost savings.
With full operations slated for March 2026, the Martinez refinery’s recovery is expected to strengthen PBF’s overall refining footprint and support the company’s long‑term strategy to improve margins and resilience in a volatile market.
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