The U.S. Energy Information Administration (EIA) recently reported annual production of U.S. petroleum coke (petcoke) remained relatively unchanged from 2014 through 2023, averaging 46 million tons, according to U.S. Census Bureau data. Petcoke, which is extracted from petroleum during the refining process, isn't a popular product in the U.S. due to its high carbon content, but it is popular overseas because of its high heat content and low price. Indeed, almost 90% of the petcoke produced in the U.S. in 2023 was exported.
Industrial Info is tracking more than $830 million worth of active and proposed projects for petroleum-coking units across the U.S., the bulk of which are for unit upgrades.
PBF Energy Incorporated (NYSE:PBF) (Parsippany, New Jersey) currently accounts for more investment in petcoke projects than any other parent company, according to Industrial Info's Global Market Intelligence (GMI) Project Database, with a pair of upgrades at its refinery in Torrance, California, slated to kick off in the coming months. PBF plans to replace valves on at least six coke drums in its 25,000-barrel-per-day (BBL/d) Delayed Coker South Unit, as well as replace anchor bolts and a deteriorated unheading platform, among other improvements.
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Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
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