PBF Gets Keys to Paulsboro PBF Holding on Dec. 22 completed its purchase of Valero Energy's Paulsboro, N.J., refinery, including its 11,000 b/d API Group I base oil plant. Price paid was $707 million, including $340 million for the refinery and the rest for net working capital, inventories and other adjustments. Yvonne Schappell, formerly with Valero, is now marketing manager, lubes, for Paulsboro Refining Co., as the refinery was renamed. She said that all of Valero's existing base oil contracts remain active under the new ownership. "We are very much interested in continuing to grow our lube sales," she told Lube Report, adding that Paulsboro Refining will be growing its sales staff.
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