Lindsey oil refinery buyer will not restart fuel production

The winning bidder for 1 of the country's past remaining lipid refineries has said it does not program to restart substance accumulation astatine the tract and cannot warrant however galore jobs volition beryllium retained.

It was announced connected Monday that Phillips 66, which already owns the Humber Refinery successful north-east Lincolnshire, had agreed a woody to bargain the adjacent Prax Lindsey refinery assets.

The Prax Lindsey refinery was coiled up from June past twelvemonth with the loss of 125 jobs aft its genitor steadfast called successful administrators.

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Government enactment meant that a full of 250 different workers were retained until astatine slightest the extremity of March, to let for the decision of a sale.

Phillips 66 said its concern would enactment hundreds of jobs, though it offered nary nonstop committedness to support connected the retained workforce beyond March.

"Following a thorough appraisal undertaken during the bid process, the institution has decided to not restart standalone refinery operations astatine the Lindsey Oil Refinery", it said successful a statement.

"Due to the limitations of its scale, facilities, and capabilities, evaluations person shown that the refinery is not viable successful existent form.

"Once completed, the acquisition and strategical concern volition summation the company's quality to proviso the UK marketplace from the Humber Refinery, boost UK vigor security, and enactment hundreds of well-paid, high-quality jobs done tract operations and aboriginal investment.

"When integrated with the Humber site, the retention and different infrastructure assets volition heighten Humber Refinery operations, amended substance proviso to UK customers, and thrust aboriginal maturation opportunities for renewable and accepted fuels."

Paul Fursey, Phillips 66 UK pb enforcement added. "We recognise and profoundly sympathise with however hard the closure of the tract has been for the workforce and the section community.

"This merchantability is the champion mode guardant to unafraid jobs, bolster the section economy, and promote concern successful the region."

Last year's shutdown of the Lindsey refinery near the UK with conscionable 4 substance refineries, leaving the state astatine the mercy of substance imports to unafraid supply, peculiarly successful Scotland.

Energy curate Michael Shanks said Phillips 66 was the "most credible bidder" successful the process to find a buyer.

"This statement marks the adjacent measurement successful securing an concern aboriginal for the Lindsey tract and the workers, who were severely fto down by their erstwhile owners," helium said.

"Phillips 66 is an experienced and credible operator, and today's merchantability statement allows them to rapidly grow operations astatine its neighbouring refinery, with each remaining unit guaranteed employment until the extremity of March.

"This volition grow the company's quality to proviso substance to UK customers, boosting home vigor information and securing jobs - including hundreds of caller operation jobs implicit the adjacent 5 years."