The Phillips 66 refinery in Los Angeles will be shut down in the coming year, according to an announcement by the oil company.
The firm said the shutdown will occur by the end of 2025 and it cited market concerns for the move.
“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 said in a statement. “Phillips 66 remains committed to serving California and will continue to take the necessary steps to meet our commercial and customer demands.”
The Associated Press reports 600 employees and 300 contractors will be affected by the closing.
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