It looks like Philip 66 is going to close down… News reports are out today that Valero may leave the state of California as well… Any good stories about Richmond and El Segundo?
Does Chevron plan to sell to an investment group? Will they close it down for real estate in storage?
31% of California's refined products comes from Chevron.
If only a few refineries close, the shortfall will drive profits up and those refineries left standing will thank the Guv for the profit windfall.
Nothing will happen in short term. But I wouldnt want to be there long term. Finding buyers is unlikely.
The hard part would be finding a buyer thats not a sovereign wealth fund.
we are the biggest or main refiners in California
will be our trump card when other refiners close or leave
Nah. Who would want them? No money it, environmental liability galore, and unfriendly policies