Webinar: PBF Energy’s Path Forward Amid Regulatory Complexity
Join Reorg on Thursday, Sept. 30, at 12 p.m. ET as we discuss PBF Energy’s background, recent financial results and the regulatory challenges it faces in the latest installment of our webinar series.
Our coverage team will provide an overview of PBF Energy’s business and the continuing effects of the Covid-19 pandemic, which led to more than $1 billion of 2020 FCF burn. While the company’s cash burn rate has improved upon entering 2021, PBF Energy has encountered increased Renewable Fuel Standard, or RFS, compliance costs due to dramatically higher market prices of RFS-related renewable identification number, or RIN, credits. Adding to the company’s regulatory complexity, the Bay Area Air Quality Management District, or BAAQMD, on July 21 adopted particulate matter-reduction amendments that PBF initially estimated would require it to install an $800 million wet scrubbing system at its 2020-acquired Martinez refinery.
Please join members of our financial, legal and regulatory teams as we explore these issues. Among additional items, our coverage team will also discuss:
- The mechanics of the RFS program;
- The current state of the RFS, and the roadmap to additional clarity on renewable volume obligations, or RVOs;
- PBF Energy’s Martinez Refinery Co.’s Sept. 7 complaint in California Superior Court challenging the BAAQMD rulemaking along with other means to address the matter;
- The potential financial consequences of PBF’s escalating environmental compliance costs
Register for this webinar below and request a trial and get up to speed on our extensive and ever-expanding coverage of PBF Energy’s financial situation here: https://reorg.com/trial