Phillips 66 (NYSE:PSX) announced on Tuesday, April 28, 2026, the successful completion of its acquisition of assets and associated infrastructure from Prax Lindsey Oil Refinery (in Liquidation).
The finalization of the deal follows an initial agreement reached in January 2026, marking a significant consolidation of refining infrastructure in the United Kingdom’s Humber region.
The acquisition is designed to directly support and enhance the operations of Phillips 66’s existing Humber Refinery.
By integrating the storage and logistical assets of the Lindsey site, Phillips 66 intends to improve the resilience of its fuel supply chain and optimize the distribution of products to its UK customer base.
The move comes at a critical juncture for the British energy sector, as domestic refining capacity remains under pressure from global market shifts and the transition toward lower-carbon energy sources.
The Humber Refinery is already a vital hub for the UK, producing approximately 14 million liters of petrol and 20 million liters of diesel daily.
It is also a pioneer in the "green" energy space, being the first refinery in the UK to produce high-quality sustainable aviation fuel (SAF) at scale.