This website collects cookies to deliver better user experience, you agree to the Privacy Policy.
Accept
Sign In
The Texas Reporter
  • Home
  • Trending
  • Texas
  • World
  • Politics
  • Opinion
  • Business
    • Business
    • Economy
    • Real Estate
  • Crypto & NFTs
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Books
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: Phillips 66 goes to close down its Los Angeles-area oil refinery the place 900 individuals work
Share
The Texas ReporterThe Texas Reporter
Font ResizerAa
Search
  • Home
  • Trending
  • Texas
  • World
  • Politics
  • Opinion
  • Business
    • Business
    • Economy
    • Real Estate
  • Crypto & NFTs
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Books
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© The Texas Reporter. All Rights Reserved.
Business

Phillips 66 goes to close down its Los Angeles-area oil refinery the place 900 individuals work

Editorial Board
Editorial Board Published October 17, 2024
Share
Phillips 66 goes to close down its Los Angeles-area oil refinery the place 900 individuals work
SHARE

Phillips 66 goes to close down its Los Angeles-area oil refinery the place 900 individuals work

Oil firm Phillips 66 introduced Wednesday that it plans to close down a Los Angeles-area refinery by the tip of 2025, citing market considerations.

The refinery accounts for about 8% of California’s refining capability, in line with the state’s Power Fee. The corporate mentioned it should stay working within the state.

“With the long-term sustainability of our Los Angeles 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,” CEO Mark Lashier mentioned in an announcement. “Phillips 66 remains committed to serving California and will continue to take the necessary steps to meet our commercial and customer demands.”

The closure will impression 600 workers and 300 contractors who assist function the refinery, the corporate mentioned in a information launch. The refinery consists of two amenities that have been constructed greater than a century in the past.

The announcement comes days after Democratic Gov. Gavin Newsom signed a legislation geared toward stopping fuel costs from spiking on the pump. The legislation authorizes power regulators to require refineries to keep up a sure stage of gas readily available. The purpose is to keep away from sudden will increase in fuel costs when refineries go offline for upkeep.

Phillips 66’s determination to shut was not associated to the brand new legislation, the corporate mentioned. It mentioned it supported the state’s efforts to maintain sure ranges of gas readily available to fulfill shopper wants.

The corporate additionally operates a refinery close to San Francisco that accounts for about 5% of California’s refining capability, in line with the state Power Fee. Phillips 66 Santa Maria, a refinery that was positioned about 62 miles (100 kilometers) northwest of Santa Barbara, shut down in 2023 after the corporate introduced plans to transform its San Francisco-area web site into “one of the world’s largest renewable fuels facilities.”

Newsom has utilized stress on lawmakers to go oil and fuel rules. He known as the state Legislature right into a particular session in 2022 to go laws geared toward cracking down on oil corporations for making an excessive amount of cash. The Democrat usually touts California’s standing as a local weather chief. The state has handed insurance policies lately to section out the the sale of recent fossil fuel-powered garden mowers, vehicles, huge rigs and trains.

TAGGED:AngelesareaLosOilPeoplePhillipsrefineryshutwork
Share This Article
Twitter Email Copy Link Print
Previous Article Bitcoin ETF rush has made North America the dominant participant within the world crypto market, report says Bitcoin ETF rush has made North America the dominant participant within the world crypto market, report says
Next Article Delta Air Traces is giving its cabin interiors a brand new look. This is a peek inside. Delta Air Traces is giving its cabin interiors a brand new look. This is a peek inside.

Editor's Pick

Sizzling Lady Summer time Begins within the Bathe—Right here’s Learn how to Prep Your Pores and skin

Sizzling Lady Summer time Begins within the Bathe—Right here’s Learn how to Prep Your Pores and skin

We might obtain a portion of gross sales if you buy a product by a hyperlink on this article. Most…

By Editorial Board 8 Min Read
Alpine’s Sizzling Hatch EV Has a Constructed-In, ‘Gran Turismo’ Model Driving Teacher

One other win over its Renault 5 sibling is a multi-link rear…

3 Min Read
Louis Vuitton Is Dropping a New Perfume As a result of It’s Sizzling | FashionBeans

We independently consider all beneficial services and products. Any services or products…

2 Min Read

Latest

Debut Novel The Revenant’s Mark Blends Revolutionary War History with Dark Fantasy in a Haunting Tale of Resurrection and Reckoning

Debut Novel The Revenant’s Mark Blends Revolutionary War History with Dark Fantasy in a Haunting Tale of Resurrection and Reckoning

LITTLETON, CO — Wesley C. Martin, a former U.S. Marine…

July 19, 2025

GARI Emerges as a Global Leader in Research Mentorship and Scholarly InnovationAustin, Texas

As global higher education continues to…

July 19, 2025

“A Family’s Fight to Reclaim Their Legacy”

Introduction: For generations, the Wright family…

July 9, 2025

AR Global Inc CEO Kason Roberts Donates to Support Kerrville Storm Victims, Mobilizes Team for Restoration Efforts

Kerrville, Texas — In the aftermath…

July 9, 2025

Bitcoin Tops $109,000 After Senate Passes Trump’s ‘Big Beautiful Bill’ – “The Defiant”

The crypto market posted modest good…

July 9, 2025

You Might Also Like

Chime’s sticky person base makes it a winner for traders, analyst says
Business

Chime’s sticky person base makes it a winner for traders, analyst says

It’s been lower than a month since Chime Monetary went public, however the neobank is successful over analysts who're already…

6 Min Read
This yr’s Amazon’s Prime Day is essentially the most unpredictable ever due to tariffs and AI
Business

This yr’s Amazon’s Prime Day is essentially the most unpredictable ever due to tariffs and AI

For those who look again 10 years to the primary and authentic Amazon Prime Day gross sales occasion, you may…

5 Min Read
Macron says France and the UK will ‘save Europe’ regardless that Brexit was all about Britain leaving the EU
Business

Macron says France and the UK will ‘save Europe’ regardless that Brexit was all about Britain leaving the EU

French President Emmanuel Macron on Tuesday urged Britain to stay near its neighbors regardless of its exit from the European Union, saying…

8 Min Read
Trump doubles down on Aug. 1 tariff deadline as shares proceed to dip
Business

Trump doubles down on Aug. 1 tariff deadline as shares proceed to dip

Markets prolonged their downward slide on Tuesday as buyers remained cautious concerning the looming tariff deadline, with the S&P 500…

4 Min Read
The Texas Reporter

About Us

Welcome to The Texas Reporter, a newspaper based in Houston, Texas that covers a wide range of topics for our readers. At The Texas Reporter, we are dedicated to providing our readers with the latest news and information from around the world, with a focus on issues that are important to the people of Texas.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© The Texas Reporter. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?