Prax Lindsey oil refinery bought out of administration by US rival

Insolvency Service says 250 staff remaining at Lincolnshire will be guaranteed jobs until the end of MarchBusiness live – latest updatesThe Prax Lindsey oil refinery in north Lincolnshire is to merge with a neighbouring rival, after the US energy company Phillips 66 bought the site, which collapsed into administration last summer.The US company plans to integrate the former Prax operations with the nearby Humber Refinery, which it already owns. It said it would not restart the Lindsey site in North Killingholme as it was not “viable in current form”. Continue reading...