Phillips 66 Limited announced it has agreed to acquire the Lindsey Oil Refinery assets and associated infrastructure, with completion subject to closing conditions including customary regulatory clearances.
The agreement follows a bidding process managed by FTI Consulting, which began serving as special managers of the Lindsey Oil Refinery assets after the Official Receiver was appointed liquidator in June 2025.
Phillips 66 Limited said it plans to integrate key assets into its Humber Refinery operations in North Lincolnshire. After assessing the site during the bid process, the company said it does not intend to restart standalone refinery operations at Lindsey, citing limitations in scale, facilities, and capabilities that make the refinery “not viable in current form.”
Once completed, the acquisition and planned investment are expected to increase Phillips 66 Limited’s ability to supply the UK market from Humber, support UK energy security, and help sustain jobs tied to site operations and future investment. The company said the added storage and infrastructure assets, when integrated with Humber, should enhance operations, improve fuel supply to UK customers, and support growth opportunities across renewable and traditional fuels.
Phillips 66 Limited also noted that it is investing in a multiyear project at the Humber site to enable the production of higher-quality gasoline.
KEY QUOTE:
“Agreeing to acquire Lindsey Oil Refinery assets and associated infrastructure marks an important step for Phillips 66 Limited as we continue to invest in the UK’s energy security. We recognize and deeply sympathise with how difficult the closure of the site has been for the workforce and the local community. This sale is the best way forward to secure jobs, bolster the local economy, and encourage investment in the region.”
Paul Fursey, UK Lead Executive, Phillips 66 Limited
