Phillips 66 mentioned Tuesday it had accomplished the acquisition of the Lindsey oil refinery and related belongings in the UK from the Prax Group.
The Houston, Texas-based downstream firm plans to combine the belongings into its Humber refinery in North Lincolnshire on England’s east coast.
“This strategic transfer will unlock new progress alternatives for conventional and renewable fuels and assist defend UK vitality safety at a time when home manufacturing is below stress”, Paul Fursey, Phillips 66 lead government within the UK, mentioned in an internet assertion.
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The sale, by way of bidding supervised by the UK authorities, had been held below court docket orders to liquidate a number of Prax companies.
“Following an intensive evaluation undertaken through the bid course of, the corporate has determined to not restart standalone refinery operations on the Lindsey Oil Refinery”, Phillips 66 mentioned January 5. “Because of the limitations of its scale, amenities and capabilities, evaluations have proven that the refinery isn’t viable in present kind”.
In its finances steerage for 2026 revealed December 15, 2025, Phillips 66 mentioned it plans to rework the Humber refinery to allow the manufacturing of higher-quality gasoline and increase the ability’s entry to “higher-value international markets”. Phillips 66 expects to begin up the transformation mission within the second quarter of 2027.
The Humber refinery produces as much as 95,000 barrels per day (bpd) of gasoline and 115,000 bpd of distillates, in accordance with Phillips 66.
Additionally situated in Humber, the Lindsey refinery has a processing capability of 113,000 bpd, in accordance with Prax.
The acquisition consisted of Prax Lindsey Oil Refinery Ltd, Prax Storage Lindsey Ltd, Prax Terminals Killingholme Ltd, Prax Terminals Jarrow Ltd and Prax Downstream UK Ltd, the UK’s Insolvency Service mentioned in a separate assertion Tuesday.
“Of the remaining staff on the websites, 109 have been retained by Phillips 66 Restricted, and 55 can be made redundant”, mentioned the assertion posted on the UK authorities’s web site.
In a press release saying the successful bid January the Insolvency Service mentioned, “The conduct of the businesses’ former administrators, following the liquidation, stays the topic of an ongoing Insolvency Service investigation”.
A winding-up order was issued towards Prax Lindsey Oil Refinery, Prax Storage Lindsey and Prax Terminals Killingholme on June 30, 2025. That was adopted by one other winding-up order towards Prax Terminals Jarrow on July 22, 2025, and towards Prax Downstream UK on November 12, 2025.
Prax has not responded to Rigzone’s request for touch upon the investigation.
It says on its web site, “The Prax Group’s UK and European Retail enterprise, Upstream and worldwide operations all at present proceed to function outdoors of insolvency”.
To contact the creator, e-mail jov.onsat@rigzone.com
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