Martinez Refinery Restart on Schedule
The Martinez refinery is on track for a December restart, with maintenance teams scheduled to hand over impacted units for a sequential restart by the end of the year.
Improved Financial Position
A $250 million gain on insurance recovery was secured, significantly improving liquidity and financial resilience.
Refining Business Improvement Program Success
The RBI program is on track to achieve $230 million in annualized run rate savings by the end of 2025, with $210 million already implemented.
Strong Product Cracks and Improving Crude Differentials
Product cracks remain strong, and crude differentials have improved, setting a positive outlook for refining margins.