Energy company, Phillips 66, agrees to buy Lindsey oil refinery
The site fell into administration in June last year
Last updated 5th Jan 2026
Energy company Phillips 66 has agreed to buy the Lindsey Oil Refinery in North Lincolnshire.
The site became overseen by the independent Official Receiver in June 2025 after Prax Group companies went into administration.
At the end of September, 124 workers were issued redundancy notices.
Since the site went into administration, multiple rallies and demonstrations have taken place, urging the government to protect jobs.
The Phillips 66 company has decided not to restart operations at Lindsey Oil, but integrate key assets into the Refinery.
A spokesperson from the company said the refinery is not viable in its current form.
Paul Fursey, Phillips 66 UK lead executive said, “Agreeing to acquire Lindsey Oil Refinery assets and associated infrastructure marks an important step for Phillips 66 Limited as we continue to invest in the UK’s energy security.
“We recognise and deeply sympathise with how difficult the closure of the site has been for the workforce and the local community. This sale is the best way forward to secure jobs, bolster the local economy, and encourage investment in the region.”
The sale is pending and subject to satisfaction of closing conditions.
The leader of North Lincolnshire Council has cautiously welcomed the news.
Councillor Rob Waltham said, "“This is good news in what has been an incredibly difficult period for workers, their families and the wider community.
“It is positive that a serious investor with a strong track record in the UK is stepping in, and Phillips 66 is a respected local employer with a long-standing presence here in North Lincolnshire.
“But this is only part of the picture. There is more to do, and there are still important questions that need clear answers.”