Phillips 66 plans to close its Wilmington oil refinery by 2025, impacting workers and refocusing on renewable fuels.

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 Co. will permanently cease conventional crude oil processing at its 138,700-b/d dual-sited refinery in Los Angeles, Calif., by yearend 2025 amid the operator’s

The energy giant denied that the move was connected with the recent signing of a new energy regulations bill in the state.

Phillips 66 announced Wednesday that it will close its southern Los Angeles County refinery operations next year. Citing uncertainty about future sustainability of the refinery complex, which includes two facilities linked by a pipeline in Wilmington and Carson, the company's chair and CEO announced the decision in a statement.

Phillips 66 announced Wednesday that it will close its Wilmington-area refinery complex next year but will work with the state to continue supplying fuel to consumers.

Philips 66, the massive oil company that operates across the United States, says that they will be closing their refiner in Wilmington next year after California Gov. Gavin Newsom signed a bill into law​ that looks at preventing gas prices from spiking.