Overview
- UK authorities completed the insolvency sale Tuesday, transferring the Lindsey site and related terminals to Phillips 66 Limited.
- The purchase covers the refinery site in Lincolnshire plus Prax Storage Lindsey, Prax Terminals Killingholme, Prax Terminals Jarrow and Prax Downstream UK Limited.
- Phillips 66 says it will use the assets for storage and to support operations at its nearby Humber Refinery to improve fuel supply resilience for UK customers.
- Of the remaining workforce, 109 employees move over to Phillips 66 Limited and 55 roles are being made redundant, affecting families and local contractors around Immingham.
- The Prax companies were wound up in June and November 2025, a sale agreement was reached on January 5, 2026, and the Official Receiver with FTI Consulting now closes out liquidation-period creditor queries.