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

Energy giant Phillips 66 has hired two development powerhouses to envision what could be built on Los Angeles land in once its oil refinery is closed.

Phillips 66 plans to close its refinery near the Port of Los Angeles in late 2025. The company’s announcement Wednesday follows Gov. Gavin Newsom’s signature of legislation implementing new oil controls.