Phillips 66 announced it will shutter its Los Angeles-area refinery by the end of 2025, just days after the California governor signed a new law tightening restrictions on oil and gas companies. The refinery accounts for about 8 percent of the refining capacity in the state and employs approximately 600 workers and 300 contractors in the 650-acre facilities.

Phillips 66 said it will shut its large Los Angeles-area oil refinery late next year, delivering a blow to California's fuel supply amid complaints about the state's high prices.