In a 3-2 vote, the South Coast Air Quality Management District gave ExxonMobil approval to fully
restore operations at its Torrance refinery, which had been operating at about 20% capacity following an explosion there in February of last year.
Restoration of the refinery’s full output, which will only take a few days, is expected to be followed by the sale of the facility to PBF Energy (NYSE:PBF) for $537.5 million . New Jersey-based PBF announced in September that it planned to acquire the refinery when it resumes full operations. The transaction is expected to closed within a few months.
The California Energy Commission approved $4.3 million in grants for projects to increase the efficiency of natural gas technology used in industrial, agriculture and water processes, and more than $40 million in other energy-efficiency projects.
to be added in the oil, natural gas and petrochemical industries by 2035, according to a new report from the American Petroleum Institute.