Chevron El Segundo refinery in Los Angeles catches fire
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A large fire has been confirmed by Gavin Newsom, governor of California. A huge fire has broken out at a Chevron oil refinery in Southern California, with flames visible all across the region.
Footage and images posted on social media captured giant balls of flames erupting into the Southern California night sky from the Chevron Products Company El Segundo Refinery.
Chevron's El Segundo refinery covers roughly 1.5 square miles and has more than 1,100 miles of pipelines, according to the company's website.
Chevron has built a resilient oil and gas portfolio. Its 2025 breakeven level is about $30 a barrel -- the lowest in the oil patch. At today's oil prices in the high $60s, Chevron can generate strong cash flow.