Phillips 66 Limited agrees to acquire Lindsey Oil Refinery assets

Core Viewpoint - Phillips 66 Limited has agreed to acquire Lindsey Oil Refinery assets and associated infrastructure, which is expected to enhance the company's operations and contribute to UK energy security [1][3][4]. Group 1: Acquisition Details - The acquisition is pending completion subject to regulatory clearances and follows a bidding process managed by FTI Consulting after the Official Receiver was appointed liquidator in June 2025 [1][2]. - The company has decided not to restart standalone operations at the Lindsey Oil Refinery due to its limitations in scale, facilities, and capabilities, deeming it not viable in its current form [2]. Group 2: Strategic Integration - The acquired assets will be integrated into the Humber Refinery operations, which will improve fuel supply to UK customers and create future growth opportunities for both renewable and traditional fuels [3][6]. - The strategic investment is expected to support hundreds of high-quality jobs and bolster the local economy through site operations and future investments [3][4]. Group 3: Company Background - Phillips 66 Limited is a wholly owned subsidiary of Phillips 66, operating in the UK for over 60 years and owning the Humber Refinery, which meets the UK's demand for liquid fuels [5][7]. - The company is focused on producing sustainable aviation fuel, graphite coke for electric vehicle batteries, and other transportation fuels, thereby strengthening its refining capabilities and distribution network [6].