PBF Energy is an independent petroleum refiner that operates six domestic oil refineries producing transportation fuels heating oil petrochemical feedstocks lubricants and other petroleum products. The refineries are located in Delaware City Delaware Paulsboro New Jersey Toledo Ohio Chalmette Louisiana Torrance California and Martinez California. The company also holds a 50 percent interest in a renewable diesel facility through its SBR equity method investment. Combined processing capacity is approximately one million barrels per day with a weighted average Nelson Complexity Index of 12.8.

The company generates revenue primarily from the sale of refined petroleum products such as gasoline diesel jet fuel heating oil lubricants petrochemicals and asphalt. These products are sold to customers throughout the United States Canada Mexico and to international markets via spot market transactions and term contracts. In addition PBFX the logistics subsidiary earns fees for the gathering handling storage and transfer of crude oil refined products natural gas and intermediates under long term fee based agreements with PBF Holding and third party clients.

The company operates through the following segments: Refining and Logistics.

• The Refining segment comprises the six oil refineries that process crude oil and other feedstocks into petroleum products including gasoline diesel jet fuel heating oil lubricants petrochemicals and asphalt. The refineries are situated on the East Coast Gulf Coast Midwest and West Coast providing geographic diversity and access to varied crude sources. Each facility operates with distinct process unit configurations enabling the production of a broad product slate.

• The Logistics segment consists of PBFX which owns or leases operates develops and acquires crude oil and refined products terminals pipelines storage facilities and similar assets. PBFX engages in receiving handling storage and transfer of crude oil refined products natural gas and intermediates for PBF Energy's refineries as well as for third party customers under long term fee based arrangements.

PBF Energy ranks among the largest independent refiners in the United States competing with integrated oil companies other independent refiners and foreign entities that import products into the domestic market. Its competitive advantages stem from a geographically diverse refinery portfolio a high complexity index that enables processing of a wide range of crude grades and strong logistics infrastructure that supports efficient product distribution. The company also benefits from long term fee based contracts with its logistics subsidiary which provide stable cash flows.

The company serves a diverse customer base that includes major oil companies distributors and traders with Shell being the largest single customer accounting for approximately thirteen percent of total revenue. Other customers consist of wholesale marketers retail operators and industrial users across the United States Canada and Mexico.