The Phillips 66 Carson refinery
California refiners dreaming of heyday
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends
US energy company Phillips 66 announced in October last year that it would shut its 139,000b/d Los Angeles refinery in the fourth quarter of 2025. A few months later, Texan refiner Valero announced it would close or repurpose its 145,000b/d Benicia refinery near San Francisco by April 2026. With California’s total refining capacity of 1.62m b/d, these two facilities account for 17.5% of the Golden State’s capacity. As in Europe, these closures reflect a broader industry trend as energy companies face increasing regulatory and financial pressure amid shifting market dynamics. California has one of the highest gasoline prices in the country California has one of the highest gasoline pr
Also in this section
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
