Vertex Energy provides Q3 operational update

Reported throughput volumes at the company’s Mobile, Alabama Refinery for the third quarter of 2023 are expected to be approximately 80,000 barrels per day, exceeding management’s prior expectations of 74,000 bpd to 77,000 bpd. Throughput volumes for the third quarter of 2023 reflect a continued focus on strengthening the company’s conventional feedstock procurement program, initiated during the second quarter in response to previously disclosed supply chain risks. Finished fuel products are expected to account for 65% to 67% of total production volumes for the quarter, ahead of the previously forecasted range of 59%-63%, and reflecting the successful implementation of a facility-wide yield optimization initiative introduced early in the second quarter of 2023. Operating expenses per barrel for the third quarter of 2023 are estimated to total between $3.70 to $3.80 per barrel, in-line with prior expectations. Capex is expected to be $21-$23 million, also in-line with prior expectations. Key commodity averages in local markets served by Vertex for the third quarter include CBOB gasoline of $108.50 per barrel, ultra-low sulfur diesel of $124.87 per barrel, Jet fuel of $120.35 per barrel and Louisiana Light, Sweet Crude oil of $84.88 per barrel.