Phillips 66 to Accelerate Closure of Los Angeles Refinery

Phillips 66, a diversified energy manufacturing and logistics company, has announced plans to expedite the shutdown of its Los Angeles-area refinery. The company, which operates in the oil refining, marketing, transportation, chemical manufacturing, and power generation sectors, will begin winding down operations at its 139,000-barrel-per-day facility as early as next week, according to sources familiar with the matter.

The decision to close the refinery ahead of schedule was confirmed by multiple reports on August 28, 2025. Initially, Phillips 66 had announced last year that the facility would cease operations by October 2025. However, the company has now accelerated this timeline, with refinery units expected to begin idling by the fourth quarter of 2025 as originally planned. A company spokesperson emphasized that the idling process involves a complex, multi-phased approach, although no detailed timeline was provided.

This move comes amid broader industry trends and operational adjustments within Phillips 66. The company, listed on the New York Stock Exchange, has a market capitalization of approximately $50.29 billion. As of August 28, 2025, the close price of Phillips 66’s stock was $133.58, with a 52-week high of $140.60 and a low of $91.01.

In related news, Phillips 66’s decision to close the Los Angeles refinery is expected to lead to layoffs, with reports indicating that the refiner will begin laying off workers at the facility starting in December.

From an investment perspective, Phillips 66 has shown significant growth over the past decade. An investment of $1,000 in the company’s stock ten years ago would have grown to approximately $1,717.21, reflecting a performance increase of 71.72%. This growth underscores the company’s resilience and strategic adjustments in a dynamic energy market.

As Phillips 66 navigates these changes, stakeholders will be closely monitoring the impact on its operations and financial performance. The company’s ability to manage the transition effectively will be crucial in maintaining its position in the energy sector.