PBF Energy: The Crude Oil Refiner - How to Squeeze Clean Returns from Dirty Oil

PBF Energy focuses completely on the refining of crude oil and downstream logistics as an independent US refinery operator. By utilizing complex large-scale facilities, the company primarily processes inexpensive, heavy crude oil, thereby generating attractive refining margins. While high free cash flows from the traditional fuel business are used for debt reduction and shareholder returns, PBF is also establishing a foothold for the energy transition through a joint venture for renewable diesel. PBF Energy (NYSE: PBF) is one of the largest...