PBF Energy has announced the closing of the sale of terminal assets previously agreed on April 30, 2025, and announced on May 1, 2025. PBF Energy, through a subsidiary of PBF Logistics LP, has sold two refined product terminal facilities located in Philadelphia, PA and Knoxville, TN, USA, for $175 million in cash (€149 million). The combined assets include 38 storage tanks with approximately 1.9 million barrels of storage capacity, and associated truck racks. The transaction closed on September 30, 2025.
Karen Davis, PBF Energy’s CFO, says: ‘We are pleased to have monetized these non-core assets and, in conjunction, increased liquidity for PBF. As stewards of the company’s capital, we continuously review our portfolio for opportunities to maximize value for investors.’
