Featured on Instagram: Phillips 66 to Shut Down L.A. Refinery
Featured on Instagram: Phillips 66's Closure of L.A. Refinery
Phillips 66 has announced that it will cease operations at its refinery in the Los Angeles area in the fourth quarter of 2025. Mark Lashier, chairman and CEO of Phillips 66, stated, “With the long-term sustainability of our refinery uncertain and affected by market dynamics, we are working with leading land development firms to evaluate the future use of our unique and strategically located properties near the Port of Los Angeles.”
Impact on Employees and Market Environment
The 650-acre refinery has around 600 employees and 300 contractors. Lashier emphasized the company’s commitment to supporting the displaced workers during this critical transition phase.
- California Legislation: This announcement comes shortly after Governor Gavin Newsom signed legislation to prevent gas price spikes by mandating refineries to maintain fuel reserves.
- Connection to Market Dynamics: The legislation aims to stabilize gas prices during refinery offline periods for maintenance.
While Phillips 66 did not directly address the new legislation or Newsom in its communications, they acknowledged the recent legislative action's impact on market conditions.
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