U.S. Refining Industry Strengths Why will the U.S. refining industry prosper for the next 5 years North American Secular growth in North American crude oil production Crude Favorable price dislocations between North American…
Summary Company Profile Toledo PBF owns three oil refineries located in Ohio, Delaware and New Jersey Aggregate throughput capacity of approximately 540,000 barrels per day Weighted average Nelson Complexity of 11.3 Paulsboro…
Increasing East Coast access to currently cost-advantaged North American crude oil PBFs onsite rail-infrastructure at Delaware City provides the opportunity to save approximately 3/bbl on delivered Bakken barrels versus using 3rd…
Rail Operations Safety PBF will lead the way on rail safety New-style DOT-111A rail cars, also referred to as CPC-1232, ordered after October 1, 2011 are the most recent design and include thicker shells, half head shields, and…
PBF Rail Deliveries of Light Crude to East Coast Light crude discharge capacity is approximately 105,000 bpd and increasing to approximately 130,000 bpd by Q3-2014 PBF is able to deliver Bakken barrels to Delaware City at a cost…
PBF Rail Deliveries of Canadian Heavy Crude to East Coast PBFs heavy crude unloading capacity is expected to double from approximately 40,000 bpd to approximately 80,000 bpd prior to the end of 2014 Deliveries of Canadian heavy…
PBFs Crude-by-Rail Program PBF has shifted 1,000 Coiled and Insulated cars to new-style DOT-111A General Purpose cars in order to assure that only new cars are used for Bakken deliveries to Delaware City The total fleet number…
North American Crude Production U.S. crude production is estimated to grow by 55% (3 million bpd) 16.0 14.4 from 2010 through 2014 13.2 14.0 Pushes barrels South (via 12.2 12.0 4.9 water, pipeline and rail), East 3.9 10.0…
WTI discount to Brent Widening Brent WTI differential positively impacts cost-advantage of North American produced crude oils WTI discount to Brent 10 5 - (5) (10) (/bbl) (15) (20) (25) (30) (35) Jan Feb Mar…
WCS discount to Brent Expanding differentials positively impact rail economics for Canadian Heavy crude oil processed at PBFs East Coast refineries WCS discount to Brent 10 - (10) (20) (/bbl) (30) (40) (50)…
Bakken versus Brent Expanding differentials positively impact rail economics for Mid-continent light-sweet crude oil processed at PBFs East Coast refineries Bakken - Brent - (5) (10) (15) (20) (/bbl) (25) (30)…
ASCI discount to Brent ASCI is an indicator for medium-sour barrels processed at PBFs East Coast facilities ASCI discount to Brent 5 - (5) (/bbl) (10) (15) (20) (25) Jan Feb Mar Apr May Jun Jul Aug Sep…
Canadian Syncrude Differential versus WTI Toledo processes approximately 35% to 40% Syncrude Syncrude - WTI 20 15 10 5 - (/bbl) (5) (10) (15) (20) (25) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Min Max…
PBFs East Coast Benchmark Crack NYH 2:1:1 = ((2*Dated Brent) + (1*NY RBOB) + (1*NO.2 Heating Oil))/2 NYH 2:1:1 30 25 20 (/bbl) 15 10 5 - Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Min Max (07-12)…
PBFs Mid-continent Benchmark Crack Chicago 4:3:1 = ((4*WTI) + (3*Chic CBOB pipe) + (0.5*Chic ULSD Pipe) + (0.5*USGC Jet Kero 54))/4 Chicago 4:3:1 50 40 30 (/bbl) 20 10 - (10) Jan Feb Mar Apr May Jun Jul…
PBF MLP Submitted confidential registration statement in August 2013 PBF has identified a pool of assets that could be contributed to a logistics-focused Master Limited Partnership (MLP) Possible MLP assets include but are not…
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