Phillips 66 will acquire Lindsey refinery assets, integrate them with Humber operations, strengthening UK fuel supply, energy security, and long-term investment.
Phillips 66 Limited has entered into an agreement to acquire the assets and associated infrastructure of the Lindsey Oil Refinery, subject to the fulfilment of standard closing conditions, including required regulatory approvals. The decision follows a competitive bidding process overseen by FTI Consulting, which was appointed as special manager of the Lindsey Oil Refinery assets after the Official Receiver assumed the role of liquidator in June 2025. This process was designed to identify the most viable outcome for the assets while considering long-term operational and economic impacts.
As part of its announcement, the company outlined plans to integrate selected assets from the Lindsey site into its existing operations at the Humber Refinery. Following a comprehensive technical and commercial review conducted during the bidding phase, Phillips 66 Limited concluded that restarting Lindsey as a standalone refinery would not be feasible. The assessment highlighted constraints related to the refinery’s scale, infrastructure condition, and overall operational capability, which together limit its competitiveness and long-term viability in the current market environment.
Rather than pursuing a restart, the company intends to focus on leveraging the strategic value of Lindsey’s storage facilities and other infrastructure by incorporating them into the Humber Refinery’s broader operational network. This integration is expected to enhance efficiency, strengthen supply chains, and improve the flexibility of fuel distribution to customers across the UK. By consolidating assets in this way, Phillips 66 Limited aims to create a more resilient and sustainable refining and logistics system capable of supporting both conventional fuels and future energy transitions.
Once the acquisition is completed, the combined investment is expected to significantly strengthen the company’s ability to supply the UK market from the Humber site. This move is positioned as a contribution to national energy security at a time when reliability of domestic fuel supply remains a strategic priority. In addition, the integration is anticipated to support hundreds of skilled, well-paid jobs through ongoing site operations, maintenance activities, and future capital investment programmes linked to growth and modernization.
The storage and infrastructure assets from the Lindsey site, when connected to Humber operations, are expected to deliver tangible operational benefits. These include improved fuel availability, more efficient logistics, and opportunities to expand capacity for both traditional petroleum products and renewable fuels. Over time, this approach may also open pathways for further investment aligned with evolving energy policies and market demand.
Commenting on the agreement, Paul Fursey, UK lead executive for Phillips 66, emphasised the broader significance of the transaction. He noted that acquiring the Lindsey assets represents an important step in the company’s continued commitment to the UK energy sector. He also acknowledged the challenges faced by employees and the surrounding community following the refinery’s closure, expressing sympathy for those affected. According to Fursey, the sale and integration strategy offer the most constructive path forward to safeguard employment, stimulate the local economy, and encourage sustained investment in the region.
Beyond the Lindsey transaction, Phillips 66 Limited reaffirmed its wider investment plans in the UK. As previously outlined in its capital budget, the company is progressing with a multi-year project at the Humber Refinery aimed at enabling the production of higher-quality gasoline. This initiative underscores the company’s longer-term strategy to modernise its refining assets, improve product quality, and remain competitive while supporting the UK’s evolving energy needs.
