Key Takeaways Phillips 66 will permanently close its Los Angeles refinery in Q4 2025 after phased shutdowns.Most of the 600 workers face layoffs in December, with limited transfers to a marine terminal.The refinery and Valero's Benicia plant supply 20% of California gasoline, raising supply concerns.Phillips 66 (PSX) will begin winding down operations at its Los Angeles-area refinery this week, with permanent closure expected in the fourth quarter of 2025, per a Reuters report. According to the report, most ...