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Will California's fuel demand remain stable despite Phillips 66 closure by end of 2026?
2
Resolution / Starting Odds
Yes • 50%
No • 50%
California Energy Commission reports 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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