Phillips 66 to Buy Lindsey Oil Refinery in UK

• Phillips 66 determined the Lindsey site is unviable as a standalone refinery due to its scale, facilities, and capabilities after a detailed review during the bidding process
• The integration is expected to create hundreds of new construction jobs over the next five years and boost UK domestic energy security
• Remaining Lindsey staff have been guaranteed employment until the end of March 2026, following the refinery's liquidation managed by FTI Consulting after receivers were appointed in June

Phillips 66 Acquires Lindsey Oil Refinery Assets in UK

Phillips 66 announced Monday it has agreed to acquire the assets and infrastructure of the Lindsey Oil Refinery in northern England following the site's liquidation. The U.S. refiner will integrate key facilities into its existing Humber Refinery complex rather than restart standalone operations at Lindsey.

Key Transaction Details:

• The acquisition follows a bidding process managed by FTI Consulting, appointed as special managers after an official receiver was named liquidator in June
• Phillips 66 determined that Lindsey's scale, facilities, and capabilities make standalone operations unviable in current form
• Storage and infrastructure assets will be integrated into the Humber Refinery to enhance supply flexibility and support both traditional and renewable fuel production

Market and Employment Impact:

UK Energy Minister Michael Shanks stated the deal will expand Phillips 66's ability to supply fuel to UK customers, strengthening domestic energy security. The transaction is expected to create hundreds of new construction jobs over the next five years. Remaining Lindsey staff have been guaranteed employment through the end of March 2025.

Background:

The Lindsey refinery faced closure in July after no buyers emerged for the site. The acquisition represents a strategic consolidation move for Phillips 66, allowing it to leverage existing infrastructure at its Humber facility while expanding operational capacity in the UK market.

The deal underscores ongoing consolidation pressures in the European refining sector, where smaller, less efficient facilities struggle to remain competitive against larger integrated operations.