January 06, 2026 [Market Watch]- PBF Energy’s efforts to restore a refinery damaged in a fire early last year are expected to continue into February.

The oil refinery company said Friday it expects to achieve planned operating rates at the beginning of March at its facility in Martinez, Calif. It had previously projected to restart operations at the end of last year.

PBF said it has launched the commissioning phase of utility systems and certain idled equipment, adding that it would begin a phased restart of the refinery as quality assurance and control processes are completed.

Damage from February 2025 fire will be covered mostly by insurance, subject to a deductible, and retentions totalling $30 million, the company said. Financial losses will be significantly offset by business interruption insurance, PBF said.