PBF Energy maintains constructive long-term outlook for renewables
August 2, 2024
BY Erin Voegele
PBF Energy Inc. on Aug. 1 announced that its St. Bernard Renewables facility produced approximately 16,500 barrels per day of renewable diesel during the second quarter of 2024. Like many renewable diesel producers, the company is also considering a pivot to sustainable aviation fuel (SAF).
The SBR biorefinery is co-located at PBF Energy’s Chalmette oil refinery in Louisiana. The 320 MMgy facility primarily produces renewable diesel and is jointly owned by PBF Energy and Eni Sustainable Mobility Spa. PBF and Eni closed on the 50-50 partnership in St. Bernard Renewables in mid-2023. The SBR facility’s renewable diesel unit began operations in June 2023, and a feedstock pretreatment unit was brought online the following month.
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PBF Energy President and CEO Matt Lucey discussed the facility’s operations during a second quarter earnings call.
According to Lucey, operations at SBR are currently being impacted by a catalyst change that began in late July. The catalyst change is expected to be complete in late August. PBF currently expects renewable diesel production for the third quarter to average 12,500 barrels per day.
While the renewable diesel market has been disappointing over the past year, Lucey said the company still has a constructive outlook. He noted renewable diesel is a fledging market that is still developing, but over the medium- and long-term the company thinks the cost of carbon will incentivize the manufacturing of renewable diesel. Like many in the renewable diesel industry, Lucy said the company is also evaluating a conversion project to produce SAF.
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PBF Energy on May 1 announced that its St. Bernard Renewables facility produced approximately 10,000 barrels per day of renewable diesel during Q1, down from 17,000 barrels per day during the Q4 2024.
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