Overview
- The Official Receiver named Phillips 66 Limited as the successful bidder for the Lindsey site and associated Prax companies after a managed sale process.
- Completion is contingent on closing conditions and customary regulatory approvals, with local officials indicating an expected finish in the first half of 2026.
- Phillips 66 will not restart standalone refining at Lindsey, citing viability constraints, and plans to integrate storage and infrastructure into its neighbouring Humber Refinery.
- About 250 employees are guaranteed work until 31 March following roughly 125 earlier redundancies, and the buyer has not committed to retention beyond the short term.
- Government officials say the acquisition should bolster UK fuel supply and support hundreds of construction jobs, while the Insolvency Service continues investigating former Prax directors and the sale price remains undisclosed.