“Every effort has been made to secure a buyer and ensure a future for the site,” Official Receiver Gareth Allen said, as Phillips 66 was named the successful bidder for the Lindsey Oil Refinery assets in North Lincolnshire on 5 January 2026. The sale covers the refinery and associated storage and terminal companies, and will complete once standard approvals are in place.

For people in North Killingholme and along the A160 supply chain, the direction is clear: Phillips 66 will fold key Lindsey assets into its nearby Humber Refinery rather than restart fuel production at the Lindsey site, saying the plant is not viable in its current form.

The refinery employed roughly 420 people before the collapse last year. After autumn redundancies, around 250 staff remain on contracts guaranteed until 31 March 2026, and the company has not committed to future headcount beyond that point.

Unite has warned against downgrading the site. “Lindsey is a critical piece of UK energy infrastructure,” general secretary Sharon Graham said, urging ministers not to let it become “a glorified storage tank.”

Phillips 66 argues the deal will strengthen UK fuel supply by expanding storage and infrastructure serving the Humber Refinery, a plant that already turns out sustainable aviation fuel and battery‑grade graphite coke. Ministers have welcomed the move, highlighting energy security and the potential for hundreds of construction jobs over the next five years.

The Insolvency Service confirmed the Prax companies were wound up from June 2025, with FTI Consulting appointed as special managers to oversee operations during the sales process. All employees have been informed, and completion is expected in the first half of 2026 subject to regulatory clearances.

Nationally, the move underscores a shrinking domestic refining base. Lindsey’s stand‑alone refining will not return, coming after the 2025 shutdown at Grangemouth and leaving the UK more reliant on imports.

Closer to home, dozens of small firms-engineers, fabricators, scaffolders and tanker operators-will want clarity on what work continues through the transition. Folding assets into Humber could mean steady maintenance and upgrade projects, though without refining the day‑to‑day turnaround intensity will be lower than during peak years.

The Official Receiver says conduct by former directors remains under investigation. Suppliers, contractors and creditors should continue to use Insolvency Service guidance to manage claims as the sale completes.

“We recognise how difficult the closure has been,” said Paul Fursey, Phillips 66’s UK lead, adding that the route now chosen is designed to safeguard jobs and investment on the Humber. The months to March will be decisive for workers and local firms as the deal moves through approvals.