The private owners of PBF Energy Inc. are planning a $512 million initial public offering of common stock, according to papers filed with the Securities and Exchange Commission. The offering reflects the company's success at reducing costs by using less expensive Canadian and Midwestern crude oil, said Tom Kloza, the chief oil analyst for the Oil Price Information Service. The company owns refineries in Delaware City, Del., Paulsboro, N.J., and Toledo, Ohio.

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