Phillips 66 to Halt Los Angeles Refinery Operations

Phillips 66 ( (PSX) ) has shared an update.

Phillips 66 has announced plans to halt operations at its Los Angeles-area refinery by late 2025, citing market dynamics and sustainability concerns. The company aims to collaborate with California to maintain fuel supply levels using internal and external sources, while also exploring future land development opportunities with leading firms. This move impacts around 900 employees and contractors, highlighting Phillips 66’s commitment to support them and meet ongoing consumer demands through renewable sources.

For an in-depth examination of PSX stock, go to TipRanks’ Stock Analysis page.