Phillips 66 Limited has been confirmed as the successful bidder for the assets of the Prax Lindsey Oil Refinery and its associated companies. The Official Receiver announced the sale on 5 January 2026, after the companies—Prax Lindsey Oil Refinery Limited, Prax Storage Lindsey Limited, Prax Terminals Killingholme Limited, Prax Terminals Jarrow Limited and Prax Downstream UK Limited—were wound up in June of the previous year. Gareth Allen, the Official Receiver, and special managers from FTI Consulting LLP confirmed that Phillips 66 will take ownership once closing conditions, including regulatory approvals, are satisfied. All employees have been notified. The Insolvency Service continues to investigate the conduct of the former directors following the liquidation.
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https://www.gov.uk/government/news/update-prax-lindsey-oil-refinery-limited-and-associated-companies
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