Oil company Phillips 66 says it will shut down Los Angeles-area refinery

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“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.

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Oil company Phillips 66 to shut down Los Angeles refineryThe refinery produces about 8% of California’s crude oil, according to the state’s Energy Commission. The company indicated it will remain operating in the state.
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