Phillips 66 (NYSE: PSX) has announced that it plans to convert its Alliance Refinery in Belle Chasse, Louisiana, to a terminal facility.

The conversion is expected to take place in 2022, Phillips 66 highlighted. The refinery employs approximately 500 employees and 400 contractors, according to the company.

“We made this decision after exploring several options and considering the investment needed to repair the refinery following Hurricane Ida,” Greg Garland, the chairman and chief executive officer of Phillips 66, said in a company statement.

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