Morris County Energy Company Buys ExxonMobil Oil Refinery for $322M

In a move that will expand its oil refining production by more than a third, PBF Energy in Parsippany has made a deal with ExxonMobil to acquire a large Louisiana-based oil refinery.

PBF Energy announced late last week it has purchased the 189,000-barrel-per-day Chalmette Refinery in Louisiana. The refinery is owned by ExxonMobil and PDV Chalmette, LLC.

The acquisition boosts PBF’s daily barrel capacity to more than 725,000, the company said. The purchase comes with “attractive MLP assets including ownership interested in three pipelines, crude and products storage facilities, a marine terminal and a clean products truck rack.”

According to nj.com, there are currently 530 ExxonMobil employees and 500 contractors that work at the refinery.

“We will have operations in the Gulf Coast, Mid-Continent and East Coast and have diversified and increased our commercial footprint and flexibility,” said Tom Nimbley, PBF Energy’s Chief Executive Officer in a statement. “We are committed to the continued safe and environmentally responsible operations of the facility and look forward to welcoming Chalmette’s well-trained and professional workforce to the PBF family.”