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According to Sinochem New Network, on January 5, the American company Phillips 66 announced that it had agreed to acquire the assets and related infrastructure of the Lindsey refinery in the UK. The transaction will be officially completed once the usual regulatory approvals and other closing conditions are met; the acquisition stems from the liquidation process of the original operator, Praxlinsey Refining Company Limited. In June 2025, the refinery owned by Prax Group went bankrupt due to operational losses; the official trustees appointed FTI Consulting as the special administrator and initiated a bidding process. After evaluation, Phillips 66 decided not to restart the Lindsey refinery as an independent operation, as its size, facilities, and production capacity limitations render it unviable in the market; instead, it plans to integrate its core assets into its Humber refinery located in North Lincolnshire. This integration will enhance the storage, transportation, and operational capabilities of the Humber refinery. Paul Fursy, head of Phillips 66 in the UK, said that the acquisition is an important step in ensuring energy security in the country; it will help preserve hundreds of well-paid jobs through operations and subsequent investments, thereby supporting the local economy. It is reported that Phillips 66 also plans to undertake a multi-year project at the Humber refinery to improve the quality of gasoline products. The UK energy sector states that this acquisition will enhance the stability of domestic fuel supply, while also creating opportunities for growth in both conventional and renewable fuel sectors, thereby supporting the energy transition.