PBF Logistics acquires four refined-product terminals
PBF Logistics L.P. announced Tuesday that it will acquire four refined-product terminals in the Philadelphia area from Plains All American Pipeline L.P. of Houston for $100 million.
PBF Logistics L.P. announced Tuesday that it will acquire four refined-product terminals in the Philadelphia area from Plains All American Pipeline L.P. of Houston for $100 million.
PBF Logistics is affiliated with PBF Energy, of Parsippany, N.J., which owns the oil refineries in Paulsboro and Delaware City, Del.
The assets include a total of 57 tanks with a total capacity of 4.2 million barrels, pipeline connections, 26 truck-loading lanes, and marine facilities capable of handling barges and ships. PBF says it plans to invest $5 million in cash to improve the facilities.
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