American refiner Phillips 66 has confirmed it will stop processing crude at its Los Angeles refinery around October 16 as part of plans to idle operations and redevelop the site.
The facility received its final waterborne crude on September 30 and is now gradually idling units through the end of 2025.
The company said remediation and decommissioning work is under way, with expected third-quarter environmental expenses of about $70 million for groundwater mitigation and a $30 million asset retirement charge related to unused transportation assets.
Phillips 66 said it will continue to meet California fuel demand by sourcing gasoline from both within and outside its refining network.
The 139,000 b/d capacity refinery produces products such as gasoline, diesel and aviation fuel.
Further updates will be shared during its third-quarter earnings call on October 29.
