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Investing.com -- Phillips 66 (NYSE:PSX) will begin shutting down its 139,000 barrel-per-day Los Angeles-area refinery as early as next week, according to Reuters, citing sources familiar with the matter.
The company announced last year that it would permanently close the facility and start winding down operations by October 2025.
"The refinery units will begin idling by Q4 2025 as planned... our timeline remains unchanged," a Phillips 66 spokesperson told Reuters in an emailed statement on Thursday. The spokesperson did not provide specific dates but noted that idling the facilities requires a complex, multi-phased approach.
The Los Angeles-area refinery employs approximately 600 workers and 300 contractors. Most employees are expected to be laid off in December.
Phillips 66 first revealed plans to close the facility last year, with the shutdown process scheduled to be underway before October 2025.
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