Lindsey Oil Refinery Sold to Phillips 66 Limited
Summary
The Official Receiver has completed the sale of Prax Lindsey Oil Refinery Limited and associated companies to Phillips 66 Limited. The sale agreement was reached on 5 January 2026, following the winding up of the companies in June and November 2025. Of the remaining employees at the sites, 109 have been retained by Phillips 66 Limited, and 55 will be made redundant. The sale was secured by the Official Receiver working with the Insolvency Service and special managers from FTI Consulting LLP.
“The Official Receiver has completed the sale of the Lindsey Oil Refinery to Phillips 66 Limited.”
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What changed
This notice announces the completion of the sale of assets from Prax Lindsey Oil Refinery Limited and four associated companies (Prax Storage Lindsey Limited, Prax Terminals Killingholme Limited, Prax Terminals Jarrow Limited, and Prax Downstream UK Limited) to Phillips 66 Limited, following their winding up in 2025. The sale was coordinated by Official Receiver Gareth Allen with special managers from FTI Consulting LLP. Affected creditors, suppliers, and sub-contractors with outstanding invoices or liquidation matters should contact the Special Managers' team at the provided email address. Employees retained by Phillips 66 Limited will continue employment at the sites; those facing redundancy will be separated from the business.
Creditors and counterparties of the liquidated Prax entities should submit any outstanding invoices or claims related to the liquidation period directly to FTI Consulting LLP via the designated email address. No new regulatory obligations are created by this transaction; it represents the conclusion of insolvency proceedings for the affected companies.
What to do next
- Any outstanding invoices or matters relating to the liquidation period should be submitted to the Special Managers' team by email: PLOR.invoice@fticonsulting.com
Archived snapshot
Apr 28, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Press release
Update: Sale of Prax Lindsey Oil Refinery Limited (and associated companies)
The Official Receiver has completed the sale of the Lindsey Oil Refinery to Phillips 66 Limited.
From: The Insolvency Service Published 28 April 2026
The sale of the assets of Lindsey Oil Refinery Limited, and associated companies, to Phillips 66 Limited is now complete.
As of 28 April 2026, Phillips 66 Limited owns the assets of Prax Lindsey Oil Refinery Limited, including the site in Lincolnshire, plus Prax Storage Lindsey Limited, Prax Terminals Killingholme Limited, Prax Terminals Jarrow Limited and Prax Downstream UK Limited.
An agreement was reached to sell the assets on 5 January 2026, following the winding up of the companies in June and November 2025.
The sale was secured by the Official Receiver, Gareth Allen, working with the Insolvency Service and special managers from FTI Consulting LLP (Matthew Callaghan, Jo Hewitt, Andrew Johnson and Sam Ballinger).
Of the remaining employees at the sites, 109 have been retained by Phillips 66 Limited, and 55 will be made redundant.
Official Receiver Gareth Allen said:
The sale of Lindsey Oil Refinery’s assets following a liquidation is the best possible outcome, and this is now complete.
My thanks to the team at the Insolvency Service and the special managers at FTI Consulting LLP.
I am grateful for the commitment, patience and understanding of the leadership team and employees at the site during this time.
Further information
As of 28 April 2026, responsibility for the sites named above is with Phillips 66 Limited.
Any outstanding invoices or matters relating to the liquidation period should be submitted to the Special Managers’ team by email: PLOR.invoice@fticonsulting.com
Information regarding the liquidation of the Prax companies can be found here: Prax Lindsey Oil Refinery Limited, Prax Storage Lindsey Limited, Prax Terminals Killingholme Limited and Prax Terminals Jarrow Limited in Liquidation: information for customers, suppliers, creditors and sub-contractors - GOV.UK
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Published 28 April 2026
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