Phillips 66 plans to close two outdated, century-old refineries in Southern California, transforming hundreds of acres for future development amid a changing energy landscape.
This closure aligns with broader shifts influenced by climate change, a rise in electric vehicle adoption, and increasing public demand for cleaner air.
Industry analyst David Hackett noted that the decision was driven by economic factors, indicating the facilities were no longer profitable compared to Phillips 66's other operations.
The company has engaged developers to explore future possibilities for the extensive land now freed by the refinery closures, marking a significant industrial transition.
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