The factory accounts for about eight percent of California's refining capacity, while its closure will affect 900 jobs.

Oil company Phillips 66 has announced that it plans to shut down a Los Angeles-area refinery that accounts for about 8% of California's refining capacity The company indicates it will remain operating in California.

Phillips 66 announced Wednesday it will close its 650-acre oil refinery complex near the Port of Los Angeles by the fourth quarter of 2025, days after Gov. Gavin Newsom (D) signed a new law regulating gas storage and refineries.