California Gov. Gavin Newsom’s administration is holding talks with oil industry participants in an attempt to prevent the closure of two California refineries.
What happened: The California Energy Commission is convening discussions with “market players” to address Valero and Phillips 66’s planned closure of two of the state’s nine refineries by April 2026, the agency said Wednesday.
“CEC has been and is actively supporting conversations with a variety of market players to discuss pathways to address the impacts of the closure intent announcements of the Phillips 66 refinery in Wilmington and Valero refinery in Benicia,” an agency spokesperson said in a statement.
Reuters reported earlier Wednesday that state officials are in talks with potential buyers of the Valero refinery in particular.
