On Thursday, PBF Energy Inc. announced its first post-pandemic profit obtained in the third quarter of this year.
Adjusted earnings were at 12 cents/share in the July-September quarter, in contrast with the net loss of USD2.87/share in the corresponding period of 2020.
PBF benefited from the higher fuel demand, low refined product inventories, and the rising crude oil supply in the market.
Going forward, PBF will commence its plan to produce 20,000 bpd of renewable diesel at its Chalmette, Louisiana refinery. It is now in advanced discussions with additional potential strategic and financial partners.
