When Phillips 66 this week announced its plans to close its Los Angeles-area refinery in late 2025, many observers noted the announcement came just days after California Gov. Gavin Newsom signed a new law aimed at refineries.

California Gov. Gavin Newsom's bill would require oil refineries in the state to maintain a minimum amount of oil supply.

Phillips 66 will close a refinery near Los Angeles in the fourth quarter of 2025, citing that its long-term sustainability is uncertain and affected by market dynamics. Mark Lashier, chief executive of the Houston-based oil refiner,

Oil company Phillips 66 has announced that it plans to shut down a Los Angeles-area refinery that accounts for about 8% of California's refining capacity The company indicates it will remain operating in California.

Phillips 66 plans to close its refinery near the Port of Los Angeles in late 2025. The company’s announcement Wednesday follows Gov. Gavin Newsom’s signature of legislation implementing new oil controls.

Phillips 66 said it will shut its large Los Angeles-area oil refinery late next year, delivering a blow to California's fuel supply amid complaints about the state's high prices.

PSX plans to shut its Los Angeles refinery by late 2025, citing market dynamics and lower profits, leaving California to face further fuel supply challenges.

Oil company Phillips 66 has announced plans to shut down its Los Angeles-area refinery by the end of 2025, citing market challenges and uncertainty about its long-term sustainability

The refinery accounts for about 8% of California's refining capacity, according to the state's Energy Commission. The company said it will remain operating in the state.