ENERGY giants Phillips 66 Ltd today announced that it acquired the assets of Lindsey Oil Refinery following the liquidation last year of the Prax Group.
Key facilities at the Killingholme-based refinery will be "integrated into the Humber Refinery rather than restarting standalone operations."
Due to the limitations of its scale, facilities, and capabilities,the refinery is not deemed to be viable in current form.
It its announcement, Phillips said: "Investment will strengthen the Humber Refinery, boost domestic energy security, ensure continued supply of quality fuels to the UK and help secure UK jobs.
"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."
The statement continued:"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."
Phillips 66 Ltd is part of a multinational company with its headquarters in Houston, Texas. Its portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses.
Locally, it also operates an oil storage complex at Tetney Lock, while UK-wide, it supports a network of more than 330 JET-branded independent dealer-owned and company-owned retail sites."
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| The storage terminal at Tetney Lock |
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