Chamber welcomes Phillips 66 acquisition of Prax Lindsey Oil Refinery
THE Hull & Humber Chamber of Commerce has welcomed Phillips 66 announcement that it has agreed to acquire the Lindsey Oil Refinery following its closure in June 2025, subject to various conditions and regulatory clearances being met.
The move marks a significant step in Phillips 66’s long-term growth strategy which, according to the company statement, will integrate the assets of Prax Lindsey Oil Refinery into the Humber Refinery. This will help to preserve the UK’s remaining vital refining capacity, safeguard critical fuel supply chains, and support high-quality employment locally.
A Phillips 66 spokesman said: “This acquisition will preserve existing jobs at the Humber Refinery and support hundreds of quality jobs through the integration of the assets.
“This investment is about growth. It will strengthen the Humber Refinery, bolster the local economy, and protect thousands of jobs across the supply chain as the Humber Refinery continues to produce sustainable aviation fuel, graphite coke for electric vehicle battery manufacturing, petrochemical feedstocks and transportation fuels.
The company said: “We understand that many hoped the Lindsey Oil Refinery would continue as a fully operational refinery. Unfortunately, due to the limitations of its scale, facilities and capabilities, our evaluations have confirmed the refinery in its current form is not viable. The liquidators and Official Receiver have also confirmed that no viable bids were received that would have resulted in a return to refining operations, allowing all Prax employees to be retained.
Commenting on behalf of the Chamber of Commerce, David Hooper, said: “We are pleased to see Phillips 66 acquire the Prax site which will help to secure the future of Phillips 66 in the Humber, but there are still concerns around the remaining jobs which are only guaranteed until March. We hope as many people as possible will be able to find work within the expanded Phillips 66 refinery operations”.
