The company is also intending to sell its associated pipelines and terminals.
ConocoPhillips will immediately begin the process of idling the facility and will permanently close the plant in six months if a sales transaction is unsuccessful.
The company intends to immediately begin the process of idling the facility and to permanently shut down the refining facility in six months if a sales transaction is unsuccessful.
ConocoPhillips Refining, Marketing, Transportation and Commercial senior vice president Willie Chiang said after exploring a wide range of alternatives for the refinery, the decision to sell is based on the level of investment required to remain competitive.
The company plans to report $300m of non-cash asset impairment after tax in its third-quarter financial results.
US-based ConocoPhillips is an integrated energy company with interests across the world.
