Refiner PBF ends last crude supply deal with Morgan Stanley
NEW YORK, June 27
NEW YORK, June 27 (Reuters) - Independent refiner PBF Holding Company LLC will terminate the crude oil supply agreement with Morgan Stanley Capital Group (MSCG) for its Toledo, Ohio, refinery, effective July 31, the company said in a filing with the Securities and Exchange Commission (SEC) on Friday.
PBF Holding Co is a subsidiary of PBF Energy Inc, an independent refiner with refineries in Delaware City, Delaware; Paulsboro, New Jersey and Ohio. PBF Holding Co terminated similar crude supply agreements with Morgan for its other two refineries a year ago.
In October, PBF said in a filing that Goldman Sach's J. Aron would purchase all finished and intermediate products at the company's Delaware and New Jersey refineries as provided in an offtake agreement reached in June, concurrent with the termination of the Morgan Stanley agreement.
The deal with J. Aron will end on July 1, 2015.
In January, PBF announced it was ending its refined product offtake agreements with Morgan Stanley and instead sell fuels directly from its East Coast refineries. (Reporting by Anna Louie Sussman; Editing by Ken Wills)