Phillips 66 to Close L.A. Refinery

Barchart · 10/17 01:26
Refiner Phillips 66 said it would shut down a refinery in the vicinity of Los Angeles by the end of next year on what the AP called market concerns and Reuters cited the company’s chief executive as mentioning “market dynamics”. The decision was announced just days after California’s governor, Gavin Newsom, signed into law a bill that would give state energy regulators to mandate certain fuel inventory levels for refiners and to approve scheduled maintenance at refineries. “Price spikes at the pump are profit spikes…