Phillips 66 Limited agrees to acquire Lindsey Oil Refinery assets

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• Agreement follows Prax Lindsey Oil Refinery Limited’s liquidation and is pending completion subject to satisfaction of closing conditions.
• Key facilities to be integrated into the Humber Refinery rather than restarting standalone refinery operations at the Lindsey site.
• Investment will strengthen the Humber Refinery, boost domestic energy security, ensure continued supply of quality fuels to the UK and help secure UK jobs.

LONDON--(BUSINESS WIRE)-- Phillips 66 Limited has agreed to acquire Lindsey Oil Refinery assets and associated infrastructure pending completion subject to satisfaction of closing conditions, including customary regulatory clearances. The announcement follows a bidding process handled by FTI Consulting, who began serving as special managers of the Lindsey Oil Refinery assets after the Official Receiver was appointed liquidator in June 2025.

The company also announced that it plans to integrate key assets into its Humber Refinery operations. Following a thorough assessment undertaken during the bid process, the company has decided to not restart standalone refinery operations at the Lindsey Oil Refinery. Due to the limitations of its scale, facilities, and capabilities, evaluations have shown that the refinery is not viable in current form.

Once completed, the acquisition and strategic investment will increase the company’s ability to supply the UK market from the Humber Refinery, boost UK energy security, and support hundreds of well-paid, high-quality jobs through site operations and future investment. When integrated with the Humber site, the storage and other infrastructure assets will enhance Humber Refinery operations, improve fuel supply to UK customers, and drive future growth opportunities for renewable and traditional fuels.

“Agreeing to acquire Lindsey Oil Refinery assets and associated infrastructure marks an important step for Phillips 66 Limited as we continue to invest in the UK’s energy security,” said Paul Fursey, Phillips 66 UK lead executive. “We recognise and deeply sympathise with how difficult the closure of the site has been for the workforce and the local community. This sale is the best way forward to secure jobs, bolster the local economy, and encourage investment in the region.”

In addition to today’s announcement and as highlighted in the Phillips 66 capital budget, Phillips 66 Limited is also investing in a multiyear project at its Humber site that will enable production of higher-quality gasoline.

About Phillips 66 Limited

Phillips 66 Limited is a wholly owned subsidiary of Phillips 66, a leading integrated downstream energy provider. Operating in the UK for over 60 years, Phillips 66 Limited owns and operates the Humber Refinery in North Lincolnshire, which contributes to the UK’s demand for liquid fuels used in transport, heating and power. The company also supports a network of more than 330 JET-branded independent dealer owned and company-owned retail sites across the country.

Phillips 66 Limited is investing in the UK’s energy future. The Humber Refinery continues to produce sustainable aviation fuel (SAF), graphite coke for electric vehicle batteries, petrochemical feedstocks and transportation fuels. Through strategic acquisitions and infrastructure integration, the company is strengthening its refining capabilities and distribution network to support long-term energy resilience and regional economic growth.

About Phillips 66

Phillips 66 (NYSE: PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company’s portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, TX, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn.

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Source: Phillips 66