PBF Energy completed the acquisition of Martinez refinery from Shell for $1.2bn.

PBF Energy, a petroleum refiner and supplier, completed the acquisition of Martinez refinery and related logistics assets for $1.2bn from Shell. "The acquisition of Martinez is a significant strategic step for PBF as we expand our West Coast operations. Martinez is a top-tier asset, is a perfect complement to our existing assets, and provides increased opportunities for PBF's West Coast operations to deliver value," Tom Nimbley PBF Chairman and Chief Executive Officer.