# Valero Energy

Type: Company (VLO)

Source: Finance Intelligence Brief — https://getfinancebrief.com/entity/valero-energy
Canonical HTML page: https://getfinancebrief.com/entity/valero-energy

## Timeline

- **2026-03-02**: Capacity Loss Assessment — Reports indicate California is losing 20% of refining capacity as Marathon and Valero facilities face uncertainty.
- **2025-12-31**: Official Refinery Closure — The 659-acre Phillips 66 facility in Carson and Wilmington officially ceases operations.
- **2024-12-31**: Production Ranking Shift — EIA data confirms California has fallen to 7th in US crude production, behind Wyoming and New Mexico.
- **2024-10-16**: Phillips 66 Exit Announcement — Industry titan Phillips 66 announces it will close its Los Angeles-area refinery by the end of 2025.

## Recent coverage (2 stories)

### California Carbon Reform Sparks Backlash from Refiners and Lawmakers
2026-03-23 16:06:10 · Sentiment: Bearish · Impact: 7/10 · Sources: 2

California's move to tighten its Cap-and-Invest program is meeting stiff resistance from the refining industry and moderate Democrats. The proposed reduction in carbon allowances threatens to drive up compliance costs, potentially leading to higher retail fuel prices across the state.
Full story: https://getfinancebrief.com/story/california-cap-and-invest-refinery-impact

### California’s Refining Exodus: Phillips 66 Closure Signals 20% Capacity Drop
2026-03-03 00:36:17 · Sentiment: Bearish · Impact: 7/10 · Sources: 2

The closure of Phillips 66’s Los Angeles refinery marks a pivotal moment in California’s energy transition, as the state faces a nearly 20% reduction in total refining capacity. Driven by aggressive environmental regulations and shifting land-use priorities, the exodus of major oil players raises critical questions about fuel security and the redevelopment of massive industrial sites.
Full story: https://getfinancebrief.com/story/california-oil-refinery-closures-phillips-66-marathon-valero

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