The Insolvency Service has confirmed Phillips 66 Limited as the successful bidder for the assets tied to Prax Lindsey Oil Refinery in North Lincolnshire, with completion subject to closing conditions and regulatory approvals. Staff on site were notified as the agreement was reached on 5 January 2026. The refinery and associated entities were wound up from June 2025, placing the Official Receiver in charge of both the liquidation and safe running of the facility.

Phillips 66 does not intend to restart Lindsey as a standalone refinery. Instead, it plans to fold selected storage and infrastructure into the neighbouring Humber Refinery to improve supply flexibility and focus investment where it already operates. The company said an assessment during the bid concluded the Lindsey plant is not viable in its current form.

This is not a full return of refining jobs. Before the shutdown, Lindsey employed roughly 420 people; after insolvency, 125 roles were cut in late 2025, and around 250 posts were guaranteed only until March 2026. Phillips 66 has not committed to a final headcount as integration planning continues.

For creditors and suppliers, the Official Receiver says the agreed sale secures the best outcome achievable through liquidation, with the Insolvency Service continuing to manage claims and communications. The conduct of former directors remains under investigation. A dedicated government page guides customers, suppliers and creditors on proof‑of‑debt submissions and contact routes.

From a market perspective, Lindsey historically processed about 96,600 barrels a day-around a tenth of UK fuel at peak utilisation-so its closure tightens an already concentrated refining base after the 2025 cessation of refining at Grangemouth. Integration into Humber preserves logistics but does not restore domestic crude runs.

Phillips 66 frames the deal as strengthening Humber’s role in UK supply. The company points to ongoing multi‑year investment at the site, plus existing production of sustainable aviation fuel and other speciality products, as reasons to consolidate activity there rather than restart Lindsey. That signals capital will go to upgrades, not turnarounds.

Local leaders have welcomed progress but want clarity on employment. North Lincolnshire Council’s leader called for swift assurances for staff, contractors and the wider supply chain now that a buyer has been named. Unite has also pressed for job protection as the integration plan takes shape.

What changes next on the ground is largely procedural. The Official Receiver and FTI Consulting will oversee transfer of assets once approvals are cleared; until then, the site remains under insolvency management with a focus on safety and continuity. Timescales have not been disclosed beyond the need to satisfy customary conditions.

For employees and SMEs in the supply chain, two practical steps stand out: keep proof‑of‑debt paperwork current with the Insolvency Service and stay close to any retraining support coordinated by government and local providers. DESNZ has previously outlined a training scheme to help affected workers move into new roles while the sale progresses.