Loss of 17% refining capacity in two years leads to 20% of gasoline now imported from Asia, up 36% this year
California's refinery closures boost Asian gasoline imports, raising prices
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Summary
When Phillips 66 walked away from its LA-area refinery last year, and Valero announced the closure of its Benicia facility this year, California lost roughly 17 percent of its refining capacity in under two years. The Institute For Energy Research recently noted that California is now importing 20% of its gasoline from Asian refineries, and imports of refined products are up 36% this year. LONDON: Britain's economy is likely to shrink in 2027 if the Strait of Hormuz does not reopen to shipping before the middle of next year, forecasters at accountants EY warned on Monday.
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When Phillips 66 walked away from its LA-area refinery last year, and Valero announced the closure of its Benicia facility this year, California lost roughly 17 percent of its refining capacity in under two years.
according to New York PostThe Institute For Energy Research recently noted that California is now importing 20% of its gasoline from Asian refineries, and imports of refined products are up 36% this year.
according to New York PostLONDON: Britain's economy is likely to shrink in 2027 if the Strait of Hormuz does not reopen to shipping before the middle of next year, forecasters at accountants EY warned on Monday
according to New Straits Times
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