The fourth-largest U.S. refiner Phillips 66 (PSX.N) on Tuesday said it has put the smaller of its two Louisiana refineries up for sale amid continued losses and an uncertain future for motor fuels. The company is holding talks with a potential buyer on the sale of its 255,600 barrel-per-day (bpd) Alliance refinery in Belle Chasse, Louisiana, according to two people familiar with the matter. The identity of the potential buyer could not immediately be learned. U.S. refiners have closed or sold oil processing plants as the COVID-19 pandemic slashed demand for gasoline and jet fuel, generating losses for the industry. Top automakers are accelerating their shift to electric vehicles, signaling tougher times ahead. “The U.S. refining business in the future is going to be smaller, not bigger,” Chief Executive Officer Greg Garland said earlier this month while laying out Phillips 66’s plans to expand […]