Phillips 66 Now Owns Lindsey Refinery

Phillips 66 said Tuesday it had completed the acquisition of the Lindsey oil refinery and associated assets in the United Kingdom from the Prax Group.

The Houston, Texas-based downstream company plans to integrate the assets into its Humber refinery in North Lincolnshire on England's east coast.

"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", Paul Fursey, Phillips 66 lead executive in the UK, said in an online statement.

The sale, via bidding supervised by the UK government, had been held under court orders to liquidate several Prax businesses.

"Following a thorough assessment undertaken during the bid process, the company has decided to not restart standalone refinery operations at the Lindsey Oil Refinery", Phillips 66 said January 5. "Due to the limitations of its scale, facilities and capabilities, evaluations have shown that the refinery is not viable in current form".

In its budget guidance for 2026 published December 15, 2025, Phillips 66 said it plans to transform the Humber refinery to enable the production of higher-quality gasoline and expand the facility's access to "higher-value global markets". Phillips 66 expects to start up the transformation project in the second quarter of 2027.

The Humber refinery produces up to 95,000 barrels per day (bpd) of gasoline and 115,000 bpd of distillates, according to Phillips 66.

Also located in Humber, the Lindsey refinery has a processing capacity of 113,000 bpd, according to 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 said in a separate statement Tuesday.

"Of the remaining employees at the sites, 109 have been retained by Phillips 66 Limited, and 55 will be made redundant", said the statement posted on the UK government's website.

In a statement announcing the winning bid January the Insolvency Service said, "The conduct of the companies' former directors, following the liquidation, remains the subject of an ongoing Insolvency Service investigation".

A winding-up order was issued against Prax Lindsey Oil Refinery, Prax Storage Lindsey and Prax Terminals Killingholme on June 30, 2025. That was followed by another winding-up order against Prax Terminals Jarrow on July 22, 2025, and against Prax Downstream UK on November 12, 2025.

Prax has not responded to Rigzone's request for comment on the investigation.

It says on its website, "The Prax Group's UK and European Retail business, Upstream and international operations all currently continue to operate outside of insolvency".

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