As many as 55 workers have been reduce after the companies which make petrol, diesel and jet gasoline plunged into administration.
An oil refinery in Lincolnshire has gone into liquidation (Picture: Getty)
A gaggle of UK oil companies which crashed into liquidation has now been bought off by the federal government, saving 106 jobs – however 55 workers have been made redundant.
Prax Lindsey Oil Refinery Restricted, together with its website in Lincolnshire, plus Prax Storage Lindsey Restricted, Prax Terminals Killingholme Restricted, Prax Terminals Jarrow Restricted and Prax Downstream UK Restricted have all been bought to a brand new proprietor by the federal government after collapsing into liquidation.
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Prax Lindsey Oil Refinery Ltd, an oil refinery in Lincolnshire, is certainly one of solely six oil refineries left within the UK.
The businesses, which collapsed into liquidation, have now been bought by the federal government’s Official Receiver to Phillips 66.
An settlement was reached to promote the belongings on January 5, 2026, following the winding up of the businesses in June and November 2025.
Of the remaining workers on the websites, 109 have been retained by Phillips 66 Restricted, and 55 will probably be made redundant.
Inbuilt 1968, the positioning processes 113,000 oil barrels a day throughout its 500 acres. Principally producing petrol and diesel for highway autos it additionally produces jet gasoline and kerosene.
The positioning additionally homes The Finaline, a excessive stress gasoline pipeline which is utilised to move gasoline, diesel and jet merchandise from Prax Lindsey Oil Refinery in North Lincolnshire to the Hertfordshire Oil Storage Terminal (“HOSL”). Jet gasoline is equipped from HOSL to Heathrow through the West London pipeline system. The Finaline has been in operation since 1991 and is 232km lengthy, 10 inches extensive and made from excessive tensile welded metal.
The refinery can accommodate 400 highway tankers per day and might load 5 trains up and a 100 tonne rail automotive in simply 20 minutes.
Prax in Lincolnshire has now been bought by the Official Receiver however 55 jobs have been misplaced (Picture: Getty)
Official Receiver Gareth Allen stated: “The sale of Lindsey Oil Refinery’s belongings following a liquidation is the very best end result, and that is now full.
“My because of the workforce on the Insolvency Service and the particular managers at FTI Consulting LLP.
“I’m grateful for the dedication, endurance and understanding of the management workforce and workers on the website throughout this time.”
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