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Updated Oct 30, 2026
PBF Energy grants 2026 long-term incentive awards to CEO and executives tied to three-year TSR performance.
PBF Energy's Compensation Committee approved long-term incentive awards on October 27, 2026, allocating $8.48 million to CEO Matthew Lucey and $2.5 million each to three senior executives. Awards consist of restricted stock (40%), performance share units (30%), and cash-payable performance units (30%), with vesting tied to total shareholder return (TSR) performance over the 2027–2029 period. No operational, financial, or strategic developments are disclosed in this filing.
Tone: neutralRevenue
$29.3B
PBF 10-K · FY 2025
Employees
3,678
Revenue FY2024
$33.1B
Headquarters
Parsippany, NJ
Profile
PBF 10-K Item 1 · Feb 12, 2026PBF Energy is one of the largest independent petroleum refiners in the United States, operating six domestic oil refineries with combined throughput capacity of approximately 1,000,000 barrels per day. The company produces and sells unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products across the U.S., Canada and Mexico. It operates in two reportable segments: Refining and Logistics.
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We are one of the largest independent petroleum refiners and suppliers of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. We sell our products throughout the Northeast, Midwest, Gulf Coast and West Coast of the United States, as well as in other regions of the United States, Canada and Mexico and are able to ship products to other international destinations. We own and operate six domestic oil refineries and related assets and own a 50% interest in the Renewable Diesel Facility through our SBR equity method investment. Our refineries have a combined processing capacity, known as throughput, of approximately 1,000,000 bpd, and a weighted-average Nelson Complexity Index of 12.8 based on current operating conditions. We operate in two reportable business segments: Refining and Logistics. Our six oil refineries are all engaged in the refining of crude oil and other feedstocks into petroleum products, and represent the Refining segment. PBFX operates certain logistical assets such as crude oil and refined products terminals, pipelines, and storage facilities, which represent the Logistics segment. PBF Energy is a holding company whose primary asset is a controlling equity interest in PBF LLC. We are the sole managing member of PBF LLC and operate and control all of the business and affairs of PBF LLC.
Primary products
- Gasoline
- Ultra-low sulfur diesel (ULSD)
- Heating oil
- Jet fuel
- Lubricants
- Petrochemicals
Business segments
End markets
Geographies
Named customers
For the years ended December 31, 2025 and December 31, 2024 only one customer, Shell plc ('Shell'), accounted for 10% or more of our revenues (approximately 13% and 13%, respectively). As of December 31, 2025 and December 31, 2024, only one customer, Shell, accounted for 10% or more of our total trade accounts receivable (approximately 14% and 18%, respectively).
“Several of our principal competitors are integrated national or international oil companies that are larger and have substantially greater resources.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Consolidated revenues declined from $33,115.3 million in 2024 to $29,332.3 million in 2025, reflecting lower refining margins and the impact of the Martinez refinery fire.
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