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. It previously stated that it has no plans to restart refinery operations at the Lindsey site and while 109 of the remaining site workers will be retained, the integration will result in 55 redundancies. These are in addition to the almost 200 workers who were made redundant after the previous owner, Prax Group, went into administration in June 2025.
The official receiver said it was the best possible outcome for the refinery and FTI Consulting, which assisted the liquidation process, said that while some local jobs had been protected, redundancies were unavoidable.
“We appreciate this has been a challenging period for employees and other stakeholders and we will continue to provide appropriate support to those affected individuals,” it said.
Energy Minister Michael Shanks had previously said that ‘no credible offers’ had been made for the refinery as an ongoing operation.
Supporting domestic supply resilience
“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 Limited 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 Limited plans to leverage storage and other infrastructure assets to enhance Humber Refinery operations and improve fuel supply to UK customers.
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