Phillips 66 Faces $2.4M Fine for Alleged Oil Dumping in LA
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Phillips 66 (PSX) is facing a $2.4 million fine for allegedly dumping oil-laden wastewater into Los Angeles' sewer system in 2020 and 2021.
November 22, 2024 | 3:45 pm
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Phillips 66 is facing a $2.4 million fine for allegedly dumping oil-laden wastewater into Los Angeles' sewer system in 2020 and 2021.
The fine and allegations could negatively impact Phillips 66's stock price due to potential legal costs, reputational damage, and regulatory scrutiny. Investors may react negatively to the news, leading to a short-term decline in stock price.
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