Phillips 66 is carefully monitoring the fires in Southern California, an organization spokesperson advised Rigzone late Thursday.
“There are at the moment no disruptions to operations, and Phillips 66 is actively taking steps to reduce any potential disruptions,” the spokesperson added.
“The protection and well-being of our staff stay our high precedence, and we’re actively taking steps to make sure their security,” the spokesperson continued.
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Phillips 66 has a refinery that “consists of two services linked by pipeline situated 5 miles aside in Carson and Wilmington, California, roughly 15 miles southeast of Los Angeles”, the corporate’s web site exhibits. Complete throughput on the asset is 165,000 barrels per day, in keeping with the positioning.
In a launch posted on its web site in October final yr, Phillips 66 introduced plans to stop operations at its Los Angeles-area refinery within the fourth quarter of 2025. Roughly 600 staff and 300 contractors at the moment function the Los Angeles-area refinery, the corporate famous within the launch.
“We perceive this resolution has an affect on our staff, contractors, and the broader group,” Mark Lashier, chairman and CEO of Phillips 66, stated within the launch.
“We are going to work to assist and help them by this transition,” he added.
“With the long-term sustainability of our Los Angeles Refinery unsure and affected by market dynamics, we’re working with main land growth companies to guage the longer term use of our distinctive and strategically situated properties close to the Port of Los Angeles,” he continued.
“Phillips 66 stays dedicated to serving California and can proceed to take the required steps to fulfill our industrial and buyer calls for,” Lashier went on to state.
In a media advisory despatched to Rigzone late Thursday by the AccuWeather group, the corporate stated “fires proceed to rage throughout Southern California”. It added that it has up to date and elevated its preliminary estimate of the entire injury and financial loss to between $135 billion and $150 billion.
“These fast-moving, wind-driven infernos have created one of many costliest wildfire disasters in trendy U.S. historical past,” AccuWeather Chief Meteorologist Jonathan Porter stated within the advisory.
“Hurricane-force winds despatched flames ripping by neighborhoods stuffed with multi-million-dollar properties. The devastation left behind is heartbreaking and the financial toll is staggering,” he added.
“To place this into perspective, the entire injury and financial loss from this wildfire catastrophe might attain practically 4 % of the annual GDP of the state of California,” Porter went on to state.
AccuWeather consultants say the estimate for whole injury and financial loss could also be revised upward, the advisory warned.
“To place this wildfire catastrophe into additional context, the AccuWeather estimate for the entire injury and financial loss from the wildfires in Maui in 2023 was $13-$16 billion,” the advisory acknowledged.
“The wildfires within the western United States in 2020 was $130-$150 billion and in 2021 was $70-$90 billion. Extra not too long ago, the hurricanes that impacted the U.S., together with Milton, which precipitated $160-180 billion and Helene, which precipitated $225-$250 billion, and the 2024 hurricane season as a complete reached practically a half-trillion {dollars},” it added.
In a media advisory despatched to Rigzone by the AccuWeather group late Wednesday, AccuWeather stated its preliminary estimate of the entire injury and financial loss “from the devastating wildfires burning in Southern California, and endangering and disrupting lives, is $52-$57 billion”.
“That is already one of many worst wildfires in California historical past,” Porter stated in that advisory.
“Ought to numerous extra constructions be burned within the coming days, it might change into the worst wildfire in trendy California historical past based mostly on the variety of constructions burned and financial loss,” he added.
To contact the creator, e-mail andreas.exarheas@rigzone.com
