Phillips 66 Limited has announced that it has completed the acquisition of the assets and associated infrastructure of Prax Lindsey Oil Refinery Ltd, UK (in liquidation). The transaction comes after the company previously agreed to the deal in January, stating its intention to integrate key assets into its Humber Refinery operations.
“Completing this transaction allows Phillips 66 to play an even stronger role in supporting the UK’s fuel supply and the resilience of this critical energy infrastructure,” said Paul Fursey, Phillips 66 Ltd UK lead executive. “This strategic move will unlock new growth opportunities for traditional and renewable fuels and help protect UK energy security at a time when domestic production is under pressure.”
When integrated with the Humber site, Phillips 66 Ltd plans to leverage storage and other infrastructure assets to enhance Humber Refinery operations and improve fuel supply to UK customers.