AFTER 105 YEARS OF OWNERSHIP SHELL SELLS MARTINEZ REFINERY FOR $1.2 BILLION
Equilon Enterprises LLC, a Shell Oil Products US, a subsidiary of Royal Dutch Shell plc announced 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 exchange for $1.2 billion which includes the refinery and inventory. The deal also includes crude oil supply and product offtake agreements, and other adjustments.
Shell is very proud of the relationship we have built and maintained with the city and people of Martinez over the many years we’ve operated side-by-side with the Martinez community making several notable achievements on safety, reliability, performance, and community involvement.
As we turn over ownership of the Martinez Refinery to PBF, we offer our many thanks to the City and community of Martinez for all they have done to support and partner with Shell and our employees over the last 100 years.
PBF Energy Inc., headquartered in New Jersey, will now operate the facility under the name Martinez Refining Co. LLC. The company also operates a refinery in Torrance, in southern California, as well as in New Jersey, Delaware, Ohio and Louisiana.
(Source and image: Shell/Martinez Refinery)