Sale of Lindsey Oil Refinery completed
Phillips 66 Limited now owns the assets of Prax Lindsey Oil Refinery Limited
It's been confirmed the sale of Lindsey Oil refinery near Immingham has been completed.
The operation's been bought by Phillips 66, which has a base nearby, after the previous owner, Prax Group, went into administration in June 2025.
Phillips 66 agreed to buy the assets on 5 January 2026.
124 workers there was made redundant last year.
Now, Phillips will keep 109 of the remaining workforce, making the other 55 redundant.
Official Receiver Gareth Allen said: "The sale of Lindsey Oil Refinery’s assets following a liquidation is the best possible outcome, and this is now complete.
"My thanks to the team at the Insolvency Service and the special managers at FTI Consulting LLP.
"I am grateful for the commitment, patience and understanding of the leadership team and employees at the site during this time."
Paul Fursey, Phillips 66 Limited UK lead executive said: “Completing this transaction allows Phillips 66 to play an even stronger role in supporting the UK’s fuel supply and the resilience of this critical energy infrastructure.
“This strategic move will unlock new growth opportunities for traditional and renewable fuels and help protect UK energy security at a time when domestic production is under pressure.”