LOS ANGELES, California: Oil company Phillips 66 has announced plans to shut down its Los Angeles-area refinery by the end of 2025, citing market challenges and uncertainty about its long-term sustainability.
The refinery, which contributes about eight percent of California’s refining capacity, is situated near the Port of Los Angeles and has operated for more than a century.
Phillips 66 CEO Mark Lashier emphasized that the company is collaborating with land development firms to explore future uses for the site. Despite the refinery’s closure, the company will continue to operate in California. “Phillips 66 remains committed to serving California and will continue to take the necessary steps to meet our commercial and customer demands,” Lashier said in a statement…