UPDATE 2-PBF Energy may build oil-by-rail facility at Ohio refinery -CEO

Fri Aug 1, 2014 11:45am EDT
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* Says imports may compete with railed-in crude on price

* Company will look at Citgo assets for possible buy

* Ohio refinery to undergo turnaround in 4Q (Adds details on crude slate)

By Kristen Hays

Aug 1 (Reuters) - PBF Energy Inc is taking some crude by rail at its Ohio refinery via a third party, but the company may build its own offloading facility there, Chief Executive Officer Tom Nimbley told analysts on Friday.

"We are actively looking at how to effectively put in a rail unloading facility, either within the property of Toledo or very close that will be our own," he said during the company's quarterly earnings call.

PBF recently finished expanding a rail-offloading infrastructure at its Delaware refinery, which now has capacity to offload up to 210,000 barrels per day - 130,000 bpd of North Dakota Bakken and 80,000 bpd Canadian heavy crude.

Whether shipments reach those levels depends on crude pricing, Chairman Tom O'Malley noted. In the third and fourth quarters this year, PBF has "significant volumes" of Iraqi crude coming in that could shrink the company's appetite for Canadian oil if better priced, he said. The same applies to Bakken crude shipments.

"We will take in as much as we can, provided we don't see better economics on the import side," he said.   Continued...