Phillips 66 gives discover of its plan to stop operations at Los Angeles-area refinery.
Phillips 66 (NYSE: PSX) introduced plans to stop operations at its Los Angeles-area refinery within the fourth quarter of 2025 and can work with the state of California to produce gas markets and meet ongoing shopper demand.
Mark Lashier, chairman and CEO of Phillips 66, stated:
We perceive this determination has an impression on our workers, contractors and the broader group.
“We’ll work to assist and assist them by way of this transition.” Roughly 600 workers and 300 contractors presently function the Los Angeles-area refinery.
“With the long-term sustainability of our Los Angeles Refinery unsure and affected by market dynamics, we’re working with main land growth companies to judge the long run use of our distinctive and strategically situated properties close to the Port of Los Angeles,”
“Phillips 66 stays dedicated to serving California and can proceed to take the mandatory steps to fulfill our business and buyer calls for.”
Because the California Power Fee’s evaluation has indicated, increasing provide capabilities can be essential. Phillips 66 helps these efforts and can work with California to take care of present ranges and doubtlessly enhance provides to fulfill shopper wants. The corporate will provide gasoline from sources inside and out of doors its refining community in addition to renewable diesel and sustainable aviation fuels from its Rodeo Renewable Power Advanced within the San Francisco Bay space.
Phillips 66 has engaged Catellus Growth Company and Deca Corporations, two main actual property growth companies, to judge the long run use of the 650-acre websites in Wilmington, California, and Carson, California. The companies deliver sturdy monitor information of fixing complicated redevelopment challenges and can collaborate with Phillips 66 in an advisory function to advance potential business growth choices that assist the regional economic system and different key stakeholder aims.
“These websites provide a chance to create a transformational undertaking that may assist the setting, generate financial growth, create jobs and enhance the area’s essential infrastructure,” Lashier stated.
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Phillips 66 gives discover of its plan to stop operations at Los Angeles-area refinery. supply
