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What will be the primary reason cited by Phillips 66 for Los Angeles refinery closure by end of 2025?
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Resolution / Starting Odds
Sustainability concerns • 25%
Market dynamics • 25%
Regulatory pressure • 25%
Other • 25%
Official statements from Phillips 66 or major news outlets
Story
Phillips 66 to Close Los Angeles Refinery in Q4 2025, Impacting 600 Employees After Newsom's Oil Law
Oct 16, 2024, 10:33 PM
Phillips 66 has announced plans to cease operations at its Los Angeles-area refinery in the fourth quarter of 2025. The closure will impact approximately 600 employees and 300 contractors. The company cited long-term sustainability concerns and market dynamics as reasons for the decision. Phillips 66 is engaging with land development firms Catellus and Deca to evaluate future uses for the Wilmington-area site, which may include redevelopment as a last-mile logistics hub. Despite the closure, Phillips 66 remains committed to meeting California’s commercial and consumer fuel demands. The announcement comes days after Governor Newsom signed a new oil law.
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Similar markets
Significant job losses • 25%
Job retention through redevelopment • 25%
Job creation through new projects • 25%
No significant change • 25%
Logistics hub • 25%
Residential area • 25%
Commercial space • 25%
Other • 25%
Catellus • 25%
DECA • 25%
Both Catellus and DECA • 25%
Other • 25%
Safety concerns • 25%
Environmental impact • 25%
Economic reasons • 25%
Other • 25%
Fully operational • 25%
Partially operational • 25%
Closed temporarily • 25%
Permanently closed • 25%
Increase in gas prices • 25%
Legal challenges • 25%
Operational adjustments • 25%
No significant response • 25%
CARB Regulations • 25%
Market Fluctuations • 25%
Supply Chain Issues • 25%
Other Factors • 25%
New fuel standards • 25%
Oil company practices • 25%
Supply chain issues • 25%
Other • 25%