Summary
- Phillips 66 will shut down its Wilmington-area oil refinery complex in the fourth quarter of 2025.
- The company plans to replace output with renewable diesel and sustainable aviation fuels from a San Francisco Bay-area complex.
- Closure was attributed to market dynamics and not directly linked to recent legislation signed by California Gov. Gavin Newsom.
- Political backlash surrounding the closure has erupted, blaming policies and regulation for impacting supply and gas prices.