Phillips 66 Buys Lindsey Oil Refinery

Phillips 66 officially completed its purchase of the Lindsey Oil Refinery and associated assets on April 28, 2026. This acquisition follows the previous owner, Prax Group, entering administration in June 2025, which led to significant redundancies at the North Lincolnshire site. Phillips 66, operating a neighboring refinery, intends to integrate crucial parts of the acquired facility to strengthen the UK's fuel supply.

While nearly 200 workers faced redundancy due to the prior administration, Phillips 66 retained 109 employees, with 55 others being made redundant as of April 28, 2026. The company previously stated no plans for standalone refinery operations. Energy Minister Michael Shanks hailed Phillips 66 as a credible operator, anticipating rapid expansion at the plant.

The refinery had incurred losses of approximately £75 million over three years since Prax Group acquired it in 2021. An ongoing investigation is examining Prax Group's conduct and insolvency circumstances. Phillips 66 leadership emphasized the purchase's role in supporting UK fuel supply, enhancing energy infrastructure resilience, and unlocking growth opportunities for both traditional and renewable fuels, thereby protecting national energy security.