Phillips 66 Limited has completed its acquisition of the liquidated Prax Lindsey Oil Refinery assets. The company plans to integrate the storage and infrastructure into its Humber Refinery operations, enhancing the UK’s fuel supply resilience and securing the site’s future as a logistics hub for traditional and renewable fuels.
London | April 28, 2026 – Phillips 66 Limited has finalized its takeover of the assets and infrastructure of the Prax Lindsey Oil Refinery, a move that permanently reshapes the UK’s refining sector. The deal, completed following the liquidation of Prax’s refining business, will see the Lindsey assets integrated into Phillips 66’s nearby Humber Refinery operations in North Lincolnshire.
The acquisition marks the end of a turbulent chapter for the Lindsey site, which collapsed into administration in mid-2025. While the deal protects the regional energy infrastructure, Phillips 66 has clarified that it does not intend to restart refining units at Lindsey. Instead, the site will function as a vital logistical extension, leveraging its vast storage capacity and terminal assets to bolster the Humber Refinery’s market reach.
Strategic Integration and Energy Security
Paul Fursey, UK Lead Executive for Phillips 66 Limited, highlighted the move as a cornerstone for UK fuel resilience. “Completing this transaction allows Phillips 66 to play an even stronger role in supporting the UK’s fuel supply,” Fursey stated. “This strategic move will unlock new growth opportunities for traditional and renewable fuels.”
For the energy sector, this integration is significant:
- Increased Storage: The addition of Lindsey’s tanks provides Humber with significantly more “breathing room” for fuel blending and inventory management.
- Logistical Synergies: The proximity of the two sites allows for a unified distribution network, potentially lowering operational costs for fuel delivery across the UK.
- Refinery Survival: By absorbing Lindsey’s assets, Phillips 66 is effectively “doubling down” on its Humber site, which is one of the most sophisticated refineries in Europe.
From Liquidation to Integration
The road to this acquisition began when Prax Lindsey Oil Refinery Limited entered insolvency in June 2025. Following a bidding process supervised by the UK Government’s Official Receiver, Phillips 66 was selected as the most credible buyer.
While 109 employees have been retained by Phillips 66 to manage the site’s transition, the closure of standalone refining at Lindsey represents a broader trend of consolidation in the European downstream sector. Phillips 66 is now pivoting the site toward the future, focusing on its role in producing Sustainable Aviation Fuel (SAF) and graphite coke for EV batteries at the primary Humber site.
About the Companies
Phillips 66 Limited
A pillar of the British energy landscape for over 60 years, Phillips 66 Limited is a wholly owned subsidiary of the global downstream leader, Phillips 66. The company owns and operates the sophisticated Humber Refinery in North Lincolnshire, a critical asset that fuels the UK’s transport, heating, and power sectors. Beyond refining, the company anchors a robust retail network of more than 330 JET-branded service stations across the country.
Phillips 66 Limited is a frontrunner in the UK’s energy transition. The Humber Refinery is a multi-modal hub, producing not only traditional transportation fuels but also high-value Sustainable Aviation Fuel (SAF) and graphite coke essential for electric vehicle batteries. Through strategic asset integration and infrastructure investment, Phillips 66 is actively strengthening the UK’s energy resilience while driving regional economic growth.
About Phillips 66
Phillips 66 (NYSE: PSX) is a premier integrated downstream energy provider, dedicated to manufacturing, transporting, and marketing the products that power the global economy. With a diverse portfolio spanning Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels, the company operates with a global footprint.
Headquartered in Houston, Texas, Phillips 66 is defined by a commitment to safety, reliability, and the pursuit of a lower-carbon future. The company’s global workforce is focused on improving lives by providing the energy of today while innovating for the requirements of tomorrow.
Prax Lindsey Oil Refinery (In Liquidation)
Formerly a key piece of the Prax Group’s energy portfolio, the refinery was one of the UK’s primary fuel production centers until its financial situation in 2025. The liquidation process was one of the most high-profile corporate insolvencies in the UK energy sector in recent years.
Source: Phillips 66