Phillips 66 provides notice of its plan to cease operations at Los Angeles-area refinery
Phillips 66 (NYSE: PSX) has announced plans to cease operations at its Los Angeles-area refinery in the fourth quarter of 2025. The company will work with California to supply fuel markets and meet consumer demand. Approximately 600 employees and 300 contractors will be affected by this decision.
Phillips 66 cites market dynamics and long-term sustainability concerns as reasons for the closure. The company is collaborating with real estate development firms to evaluate future use of its 650-acre sites in Wilmington and Carson, California. Phillips 66 remains committed to serving California and will continue to supply gasoline from various sources, as well as renewable diesel and sustainable aviation fuels from its Rodeo Renewable Energy Complex.
The company aims to create a transformational project that supports the environment, generates economic development, creates jobs, and improves regional infrastructure.
Phillips 66 (NYSE: PSX) ha annunciato l'intenzione di cessare le operazioni nella sua raffineria nell'area di Los Angeles nel quarto trimestre del 2025. L'azienda collaborerà con la California per rifornire i mercati del carburante e soddisfare la domanda dei consumatori. Circa 600 dipendenti e 300 appaltatori verranno coinvolti da questa decisione.
Phillips 66 cita dynamiche di mercato e preoccupazioni per la sostenibilità a lungo termine come motivi per la chiusura. L'azienda sta collaborando con imprese di sviluppo immobiliare per valutare l'uso futuro dei suoi terreni di 650 acri a Wilmington e Carson, California. Phillips 66 rimane impegnata a servire la California e continuerà a fornire benzina da diverse fonti, oltre a diesel rinnovabile e carburanti sostenibili per l'aviazione dal suo Rodeo Renewable Energy Complex.
L'azienda punta a creare un progetto trasformativo che supporti l'ambiente, generi sviluppo economico, crei posti di lavoro e migliori le infrastrutture regionali.
Phillips 66 (NYSE: PSX) ha anunciado planes para cesar operaciones en su refinería en el área de Los Ángeles en el cuarto trimestre de 2025. La compañía trabajará con California para suministrar los mercados de combustible y satisfacer la demanda de los consumidores. Aproximadamente 600 empleados y 300 contratistas se verán afectados por esta decisión.
Phillips 66 cita dínámicas de mercado y preocupaciones de sostenibilidad a largo plazo como razones para el cierre. La empresa está colaborando con firmas de desarrollo inmobiliario para evaluar el uso futuro de sus terrenos de 650 acres en Wilmington y Carson, California. Phillips 66 sigue comprometida a servir a California y continuará suministrando gasolina de diversas fuentes, así como diésel renovable y combustibles sostenibles para la aviación desde su Rodeo Renewable Energy Complex.
La compañía tiene como objetivo crear un proyecto transformador que apoye el medio ambiente, genere desarrollo económico, cree empleos y mejore la infraestructura regional.
필립스 66 (NYSE: PSX)는 2025년 4분기에 로스앤젤레스 지역의 정유소 운영을 중단할 계획이라고 발표했습니다. 회사는 캘리포니아와 협력하여 연료 시장에 공급하고 소비자 수요를 충족할 것입니다. 약 600명의 직원과 300명의 계약자가 이번 결정의 영향을 받을 예정입니다.
필립스 66은 시장 역학과 장기적인 지속 가능성 우려를 폐쇄의 이유로 들었습니다. 회사는 캘리포니아 윌밍턴과 카슨에 있는 650 에이커 부지의 향후 용도를 평가하기 위해 부동산 개발 기업과 협력하고 있습니다. 필립스 66은 캘리포니아에 대한 헌신을 유지하며, 다양한 공급원에서 휘발유를 계속 공급하고, 로데오 재생 가능 에너지 단지에서 재생 가능 디젤과 지속 가능한 항공 연료를 공급할 것입니다.
회사는 환경을 지원하고, 경제 발전을 촉진하며, 일자리를 창출하고, 지역 인프라를 개선하는 혁신적인 프로젝트를 만들고자 합니다.
Phillips 66 (NYSE: PSX) a annoncé des projets pour cesser ses opérations dans sa raffinerie de la région de Los Angeles au quatrième trimestre de 2025. L'entreprise travaillera avec la Californie pour fournir les marchés de carburant et répondre à la demande des consommateurs. Environ 600 employés et 300 contractuels seront touchés par cette décision.
Phillips 66 cite les dynamiques du marché et des préoccupations concernant la durabilité à long terme comme raisons de la fermeture. L'entreprise collabore avec des entreprises de développement immobilier pour évaluer l'utilisation future de ses sites de 650 acres à Wilmington et Carson, en Californie. Phillips 66 reste engagée à servir la Californie et continuera à fournir de l'essence provenant de diverses sources, ainsi que du diesel renouvelable et des carburants d'aviation durables issus de son Rodeo Renewable Energy Complex.
L'entreprise vise à créer un projet transformationnel qui soutient l'environnement, génère du développement économique, crée des emplois et améliore l'infrastructure régionale.
Phillips 66 (NYSE: PSX) hat Pläne angekündigt, die Betriebe seiner Raffinerie im Raum Los Angeles im vierten Quartal 2025 einzustellen. Das Unternehmen wird mit Kalifornien zusammenarbeiten, um die Kraftstoffmärkte zu beliefern und die Verbrauchernachfrage zu erfüllen. Ungefähr 600 Mitarbeiter und 300 Auftragnehmer werden von dieser Entscheidung betroffen sein.
Phillips 66 nennt Marktdynamiken und langfristige Nachhaltigkeitsbedenken als Gründe für die Schließung. Das Unternehmen kooperiert mit Immobilienentwicklungsfirmen, um die zukünftige Nutzung seiner 650 Hektar großen Flächen in Wilmington und Carson, Kalifornien, zu bewerten. Phillips 66 bleibt dem Dienst an Kalifornien verpflichtet und wird weiterhin Benzin aus verschiedenen Quellen sowie erneuerbaren Diesel und nachhaltige Flugkraftstoffe aus seinem Rodeo Renewable Energy Complex liefern.
Das Unternehmen hat das Ziel, ein transformierendes Projekt zu schaffen, das die Umwelt unterstützt, wirtschaftliche Entwicklung fördert, Arbeitsplätze schafft und die regionale Infrastruktur verbessert.
- Potential for transformational project development on 650-acre sites
- Continued commitment to supply California with gasoline and renewable fuels
- Collaboration with leading real estate firms for site redevelopment
- Closure of Los Angeles-area refinery in Q4 2025
- Approximately 900 employees and contractors affected by the closure
- Uncertain long-term sustainability of the Los Angeles Refinery
Insights
The planned closure of Phillips 66's Los Angeles-area refinery marks a significant shift in California's refining landscape. This decision, driven by market dynamics and long-term sustainability concerns, will impact 600 employees and 300 contractors. The closure, set for Q4 2025, raises questions about fuel supply in the region.
Phillips 66's commitment to maintain current supply levels and potentially increase them is crucial. The company's strategy to source gasoline from various locations and provide renewable fuels from its Rodeo Renewable Energy Complex demonstrates adaptability. However, the loss of local refining capacity could potentially lead to increased volatility in California's fuel markets.
The 650-acre sites in Wilmington and Carson present a significant redevelopment opportunity. Engagement with Catellus Development and Deca Companies suggests a strategic pivot towards commercial real estate, which could diversify Phillips 66's asset portfolio and create new revenue streams. This move aligns with broader industry trends of repurposing refinery sites for alternative uses.
The potential redevelopment of Phillips 66's 650-acre sites in Wilmington and Carson presents a rare opportunity in the Los Angeles area real estate market. These properties, given their strategic location near the Port of Los Angeles, have significant value for commercial and industrial development.
Engaging Catellus Development and Deca Companies, known for tackling complex redevelopment projects, signals a serious commitment to maximizing the sites' potential. The focus on supporting the regional economy and improving critical infrastructure suggests a mixed-use development approach that could include logistics facilities, light industrial spaces and potentially commercial or retail elements.
This redevelopment could bring substantial economic benefits, including job creation and increased tax revenue for local municipalities. However, the process will likely face challenges, including environmental remediation, zoning changes and community engagement. The success of this project could set a precedent for repurposing industrial sites in urban areas across the U.S.
- Facility expects to cease operations in the fourth quarter of 2025
-
Company will work with the state of
California to supply fuel markets and meet ongoing consumer demand
“We understand this decision has an impact on our employees, contractors and the broader community,” said Mark Lashier, chairman and CEO of Phillips 66. “We will work to help and support them through this transition.” Approximately 600 employees and 300 contractors currently operate the
“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,” said Lashier. “Phillips 66 remains committed to serving
As the California Energy Commission’s analysis has indicated, expanding supply capabilities will be critical. Phillips 66 supports these efforts and will work with
Phillips 66 has engaged Catellus Development Corporation and Deca Companies, two leading real estate development firms, to evaluate the future use of the 650-acre sites in
“These sites offer an opportunity to create a transformational project that can support the environment, generate economic development, create jobs and improve the region’s critical infrastructure,” Lashier said.
About Phillips 66
Phillips 66 (NYSE: PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company’s portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements within the meaning of the federal securities laws relating to Phillips 66’s operations. Words such as “anticipated,” “estimated,” “expected,” “planned,” “scheduled,” “targeted,” “believe,” “continue,” “intend,” “will,” “would,” “objective,” “goal,” “project,” “efforts,” “strategies” and similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements included in this news release are based on management’s expectations, estimates and projections as of the date they are made. These statements are not guarantees of future events or performance, and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include: changes in governmental policies or laws that relate to our operations, including regulations that seek to limit or restrict refining, marketing and midstream operations or regulate profits, pricing, or taxation of our products or feedstocks, or other regulations that restrict feedstock imports or product exports; our ability to timely obtain or maintain permits necessary for projects; fluctuations in NGL, crude oil, refined petroleum, renewable fuels and natural gas prices, and refining, marketing and petrochemical margins; the effects of any widespread public health crisis and its negative impact on commercial activity and demand for refined petroleum or renewable fuels products; changes to worldwide government policies relating to renewable fuels and greenhouse gas emissions that adversely affect programs including the renewable fuel standards program, low carbon fuel standards and tax credits for biofuels; unexpected changes in costs for constructing, modifying or operating our facilities; our ability to successfully complete, or any material delay in the completion of, any asset disposition, acquisition or conversion that we may pursue; unexpected difficulties in manufacturing, refining or transporting our products; the level and success of drilling and production volumes around our midstream assets; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products, renewable fuels or specialty products; lack of, or disruptions in, adequate and reliable transportation for our products; potential liability from litigation or for remedial actions, including removal and reclamation obligations under environmental regulations; failure to complete construction of capital projects on time and within budget; our ability to comply with governmental regulations or make capital expenditures to maintain compliance with laws; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets, which may also impact our ability to repurchase shares and declare and pay dividends; potential disruption of our operations due to accidents, weather events, including as a result of climate change, acts of terrorism or cyberattacks; general domestic and international economic and political developments, including armed hostilities (such as the
View source version on businesswire.com: https://www.businesswire.com/news/home/20241016733736/en/
Jeff Dietert (investors)
855-841-2368
jeff.dietert@p66.com
Owen Simpson (investors)
855-841-2368
owen.simpson@p66.com
Thaddeus Herrick (media)
855-841-2368
thaddeus.f.herrick@p66.com
Source: Phillips 66
FAQ
When will Phillips 66 (PSX) cease operations at its Los Angeles-area refinery?
How many employees and contractors will be affected by the Phillips 66 (PSX) refinery closure?
What are Phillips 66's (PSX) plans for the refinery sites after closure?
How will Phillips 66 (PSX) continue to supply fuel to California after the refinery closure?
