Phillips 66's Planned Closure of Its Los Angeles Oil Refinery
Friday, 18 October 2024, 12:16
The Future of Oil Refineries in California
Phillips 66 has made a pivotal decision to close its oil refinery near the Port of Los Angeles by late 2025. This closure comes in the wake of new legislation aimed at regulating oil production in California, signed by Governor Gavin Newsom. The refinery's exit from the market raises concerns about the availability of gasoline and rising prices for California residents.
Impact on Gasoline Supply
- Phillips 66's Los Angeles refinery is crucial for the state's fuel portfolio.
- The American Automobile Association has voiced its concerns about potential price hikes.
- Experts predict shifts in the local market dynamics post-closure.
Company News and Legislation
- New oil regulations are part of California's broader green agenda.
- Phillips 66 has emphasized its commitment to sustainability and transitioning energy resources.
- Local communities are urged to connect amid these significant changes.
For more details about the implications of this refinery closure, stay informed through our ongoing updates.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.