U.S. Oil Industry Becomes Refiner to World as Exports Boom
- U.S. gasoline overseas sales hit record high on Mexican demand
- China, India, Mideast refiners fight for emerging market share
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When PBF Energy Inc. scooped up a refinery from Exxon Mobil Corp. on the Mississippi River in 2015, it wasted no time sprucing up the plant with an eye toward quickly resuming lucrative fuel exports.
Within three months, PBF was ready to load its first tanker for shipment abroad. By late last year, the New Jersey-based company was exporting 22,000 barrels a day of fuel, or 16 percent of that refinery’s output. Now, it wants to boost that to almost 25 percent.