Prax Lindsey oil refinery bought out of administration by US rival

A picture


The Prax Lindsey oil refinery in north Lincolnshire is to merge with a neighbouring former rival after the US energy company Phillips 66 bought the site, which collapsed into administration last summer.The US company plans to integrate the Prax operations with the nearby Humber refinery, which it already owns.It said it would not restart “standalone refinery operations” at the Lindsey site in North Killingholme as this was “not viable in [its] current form”.Prax Lindsey, in the Humber estuary, was one of only five refineries left in the UK when it collapsed in June with production stopping immediately.The refinery had been bought in 2021 by Winston Soosaipillai and his wife, Arani, in an attempt to build an energy empire.

However, alleged “irregularities” relating to the group’s debts resulted in the collapse of the Prax companies last year.Soosaipillai, who is known by his middle names Sanjeev Kumar, is being sued by administrators for breach of his duties as a director.His whereabouts are unknown.The price of the deal with the UK arm of Phillips 66 was not disclosed.Phillips 66, headquartered in Texas, has operations across oil refining, midstream, chemicals and renewable fuels.

It has more than 14,600 employees,The government’s official receiver took control of the Lindsey operation after the collapse of its owner and a bidding process was launched,Gareth Allen, the official receiver at the Insolvency Service who manages nationally significant corporate bankruptcies, said the deal with Phillips 66 was the “best possible outcome for creditors”,It is understood no offers had been put forward that would have secured all jobs and led to a return to refining operations at Lindsey in the next few years,The official receiver said in December that the 250 employees remaining at the site – after 125 were made redundant in October – would be guaranteed employment until the end of March.

Their long-term future remains unclear.The energy minister, Michael Shanks, said: “After a thorough process to identify a buyer for the site, the official receiver has determined Phillips 66 is the most credible bidder which can provide a viable future for this site.“Phillips 66 is an experienced and credible operator, and today’s sale agreement allows them to quickly expand operations at its neighbouring refinery, with all remaining staff guaranteed employment until the end of March.“This will expand the company’s ability to supply fuel to UK customers, boosting domestic energy security and securing jobs – including hundreds of new construction jobs over the next five years.”Paul Fursey, the Phillips 66 UK lead executive, said: “We recognise and deeply sympathise with how difficult the closure of the site has been for the workforce and the local community.

“This sale is the best way forward to secure jobs, bolster the local economy and encourage investment in the region.”Sharon Graham, the general secretary of the Unite union, said: “Lindsey oil refinery is a critical piece of UK energy infrastructure.Phillips 66 should not be allowed to just mothball the site and turn it into a glorified storage tank.“Lindsey is one of the few remaining oil refineries left in the UK, supplying a quarter of the country’s diesel market when running properly and supporting hundreds of highly skilled jobs.“The government should be working with Phillips 66 to ensure this sale retains and creates jobs and helps safeguard the nation’s energy security rather than harming it.

”The company said the acquisition would enhance operations at the Humber refinery and improve the supply of fuel to UK customers.At the time of collapse, Prax included a North Sea oilfield, hundreds of petrol stations and Lindsey, an oil refinery that was responsible for 10% of UK fuel production.By the time of its demise, the Prax Lindsey oil refinery had £203 left in the bank when the commodities trading group Glencore, which supplied it with crude, called in $53.6m (£39.8m) in debt, according to documents that were first reported by the Times.

sportSee all
A picture

Beau Webster steps off the sidelines into the light as promise of Cameron Green wilts | Geoff Lemon

There was an irony to the fact that Cameron Green’s catch made Beau Webster’s day look even better. Green had not had a good one, having earlier dived in front of Australia’s most prolific slip catcher to spoil a simple Steve Smith catch. It followed a poor day the day before, skying a pull shot after getting settled on 37, and a poor series before that. Then came Webster, an off-break swept into the deep, and Green’s long legs ate up the turf before crashing his body into a dive that gathered up the ball in its fall, the two Australians combining for what might be the tallest wicket in Test history.There is usually only room for a single two-metre all-rounder in a team, unless they’re operating at specialist level in one discipline

A picture

Australia v England: fifth Ashes Test, day four – as it happened

Time for me to depart, thanks for your company and comments. Stay tuned for all the wrap up from day four.Join us tomorrow for the final day of the 2025/6 Ashes series. Goodbye and toodle-oo.“Morning Jim, to this very England of mornings

A picture

John Harbaugh fired by Baltimore Ravens after 18 seasons in charge

The Baltimore Ravens have fired head coach John Harbaugh after 18 seasons in charge, the team announced on Tuesday.Harbaugh is the most successful coach in the history of the franchise and was the second longest-tenured head coach in the NFL before his dismissal. Ironically, his final game with the Ravens came against the only name ahead of him in terms of tenure length – Mike Tomlin, who has been in charge of the Pittsburgh Steelers for 19 seasons.Ravens owner Steve Bisciotti called the decision “incredibly difficult” in a statement.“Throughout what I firmly believe is a Hall of Fame coaching career, John has delivered a Super Bowl championship to Baltimore and served as a steadfast pillar of humility and leadership,” Bisciotti said

A picture

Britain’s fragile frontrunners Draper and Raducanu try again to break injury cycles | Tumaini Carayol

From the moment news of Great Britain’s planned team for the United Cup was announced in October, jokes began to fly. On paper, it was a dream. Jack Draper and Emma Raducanu, the top tennis players in the country and figureheads of a new generation, finally united on the same side of the court.However, recent history has shown that things are never straightforward with Britain’s two greatest hopes. Both players have had to navigate injuries and physical problems in their young careers, so to some fans and onlookers the real question was which player would withdraw first

A picture

‘I wish I’d faced these poor modern teams’: world’s oldest living Test cricketer on decline in standards

Twenty‑five kilometres north of the SCG, the world’s oldest living Test cricketer is sitting in his La-Z-Boy armchair and watching the Test. Neil Harvey was once the youngest of Bradman’s Invincibles; now he’s 97, his old cricketing buddies gone. His body is a little worn around the edges, but mentally he’s astute.Harvey was Australia’s sweetheart, the second youngest of six brothers, a dashing left-hander, who stalked the covers and hunted at slip. During a 15-year Test career, he cut and shimmied to more than 6,000 runs at an average of 48, making his mark with 153 in his second Test

A picture

Majestic Smith passes Hobbs to leave only Bradman clear on top of Ashes mountain | Geoff Lemon

There was a time, while Steve Smith was at the height of his batting prowess, when “best since Bradman” was used with confidence. The thing about that line is that even when the recipient has dominated for years, it gets applied too quickly, given the point of comparison is a career-lasting two decades. Lots of players reach the top for a time, no other has stayed as long. Smith was untouchable for six years before returning to the realm of the merely very good.The combination of those phases, though, took him to a rare position on the third day of the fifth Test in Sydney