Phillips 66 to acquire Lindsey Oil Refinery assets, infrastructure

Phillips 66 (PSX) has agreed to acquire Lindsey Oil Refinery assets and associated infrastructure pending completion subject to satisfaction of closing conditions, including customary regulatory clearances. The announcement follows a bidding process handled by FTI Consulting, who began serving as special managers of the Lindsey Oil Refinery assets after the official receiver was appointed liquidator in June 2025. The company also announced that it plans to integrate key assets into its Humber Refinery operations. Following an assessment undertaken during the bid process, the company has decided to not restart standalone refinery operations at the Lindsey Oil Refinery. Due to the limitations of its scale, facilities, and capabilities, evaluations have shown that the refinery is not viable in current form. Once completed, the acquisition and strategic investment will increase the company’s ability to supply the UK market from the Humber Refinery, boost UK energy security, and support hundreds of well-paid, high-quality jobs through site operations and future investment.