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Stock Market & Financial Investment News

News Breaks
February 4, 2013
08:04 EDTPBFPBF Energy announces investment in new rail infrastructure
PBF Energy announced the completion of the second crude oil unloading facility at its subsidiary’s Delaware City Refinery. The construction of the 70,000 barrel per day rail facility was announced in mid-2012 and was completed on schedule and on budget. The first unit train of Bakken crude oil is expected to discharge this week with seventeen more unit trains scheduled to arrive in the next two weeks. With the completion of this project, the Delaware City rail facilities are now capable of discharging 110,000 bpd of crude oil directly at the refinery – 40,000 bpd of heavy crude oil and 70,000 bpd of light crude oil. PBF Energy also announced that it has increased its previous guidance on the quantity of Canadian heavy crude that it can process at its Delaware City refinery. Based on the success the company has had running the Canadian heavy crudes to date, PBF Energy plans to increase the discharge capacity of the heavy crude rail unloading facility to 80,000 bpd. The new rail project should add an additional 40,000 bpd of heavy crude unloading capability to the existing 40,000 bpd rail facility. The project is anticipated to cost approximately $50M and to be completed in the fourth quarter of 2013.
News For PBF From The Last 14 Days
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December 18, 2014
16:58 EDTPBFD. E. Shaw Kalon Portfolios reports 5% passive stake in PBF Energy
December 17, 2014
07:19 EDTPBFIndependent Refiners sector cut to Market Weight at Wells Fargo
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December 15, 2014
06:58 EDTPBFPBF Energy downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill downgraded PBF Energy to Underperform due to the lower oil price environment and risks of over supply from new global refinery capacity in the Atlantic basin. Price target lowered to $26 from $31.
December 9, 2014
08:45 EDTPBFSnow Capital Management reports 5.2% passive stake in PBF Energy
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