Overview

• The CEC has begun engaging with market players under a compressed timeline to secure a buyer for the 145,000-barrel-per-day facility
• Among the parties contacted are HF Sinclair and European firms familiar with stringent environmental standards
• The Benicia refinery accounts for roughly 9 percent of California’s crude capacity and employs over 400 workers
• A flaring event on July 23 prompted monitoring by the Bay Area Air Quality Management District and Benicia Fire Department with no off-site health impacts expected
• Analysts warn that closing Benicia alongside the Los Angeles-area plant would cut output by about 17 percent and could drive pump prices toward $6 to $8 per gallon