Latest news with #LindseyRefinery
BBC News
06-07-2025
- Business
- BBC News
Lincolnshire garages run out of petrol after supply issues
The owner of three petrol stations says his garages have run out of a fuel as a result of an oil refinery going into Dant of Gill Marsh Forecourts said all three of his sites at Ulceby Cross, Partney and Bilsby in Lincolnshire ran out of unleaded petrol on Thursday. The government said an agreement had been reached to keep the Lindsey refinery at Immingham operating and resume deliveries despite filing for insolvency on 29 June. The Petrol Retailers Association (PRA) acknowledged there may be delays to deliveries and advised motorists to "shop around". The Lindsey Oil Refinery is owned by Prax Group which filed for insolvency on 29 are 420 employees at the refinery, whose jobs are now at risk. According to the government, Lindsey is the smallest of the UK's oil refineries producing fuel. It is next to the Phillips 66 Humber refinery, which is the dominant fuel supplier in the region. In a statement on Friday, a spokesperson for the Department for Energy Security and Net Zero said: "The UK is well supplied with fuel – the site is right next door to one of the biggest and most efficient refineries in the country, and stock levels are normal across the UK."However, Mr Dant said his garages were supplied by Harvest Energy which was also part of the Prax Group."Even if there's product there, we still couldn't get that product," he said. "It's very hard, because there are quite a few of us in the same boat," he added."There's loads of garages around us that are now starting to run out because obviously the remaining refinery, Phillips 66 can't just double their production overnight," he retailer said he expected the supply problems to last at least two weeks, but hoped to have secured some fuel from Liverpool by the end of next week."Obviously there's a great deal of extra cost for us to get that, but at least we'll have some products to sell," he said.A PRA spokesperson: "The PRA is currently in contact with the Department for Energy Security and Net Zero and also Harvest Energy. "We are aware that Harvest Energy (Prax) have allowed their dealers to source product from alternative suppliers whilst clarity is sought on supply from Lindsey Oil Refinery. "Whilst there may be some delay to deliveries there is no shortage of product and motorists are advised to shop around."Listen to highlights from Lincolnshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
Yahoo
04-07-2025
- Business
- Yahoo
Glencore in talks with UK government over insolvent Lindsey oil refinery supply, source says
LONDON (Reuters) -Commodities trader Glencore is in talks with the British government over the status of its supply and offtake contract with the insolvent Lindsey oil refinery, according to a source familiar with the situation. The 113,000-barrel-per-day refinery was owned by Prax prior to its insolvency which was announced on Monday, alongside the insolvency of Prax's parent group, putting hundreds of jobs at risk and potentially increasing Britain's reliance on fuel imports. Glencore declined to comment. The government has ordered an investigation into Prax's directors and the circumstances surrounding the insolvency. Glencore last year won a tender to supply crude oil to the Lindsey refinery, replacing rival trader Trafigura, three sources with knowledge of the deal told Reuters at the time. Consultancy FTI, the special manager hired by the government to assist the so-called Official Receiver of the insolvent refinery, directed questions on the refinery to Britain's departments for Business and Trade as well as Energy Security and Net Zero. The Official Receiver is tasked with dealing with suppliers of the site. Neither department commented on talks with Glencore or how long the refinery would be able to operate if no deal was reached. A spokesperson for the department for Energy Security and Net Zero pointed to its statement from Monday which said that the government would ensure supplies were maintained. Sign in to access your portfolio
Bloomberg
04-07-2025
- Business
- Bloomberg
UK Reaches Deal to Restart Fuel Deliveries From Lindsey Refinery
The UK has reached a deal that will allow deliveries of fuel to restart from the Lindsey refinery. The UK is well supplied with fuel and stock levels are normal, the Department for Energy Security and Net Zero said in an email.
Sky News
04-07-2025
- Business
- Sky News
Official Receiver and Glencore strike crucial Lindsey oil supply deal
The Official Receiver has reached a deal with the commodities trading giant, Glencore, that will ensure continued supplies of crude oil to the ailing Lindsey refinery following its owner's collapse this week. Sky News has learnt that the OR - which oversees the initial stages of bankruptcies ordered by a court - struck an agreement with Glencore in the early hours of Friday morning. Further details of the arrangement were unclear. The deal provides a temporary lifeline to the Lindsey refinery in Lincolnshire while the OR and special manager FTI Consulting race to secure the site's longer term future. The plant - one of only a handful of oil refineries still operating in the UK - was owned by Prax Group, whose main subsidiary, State Oil, and other entities collapsed into insolvency proceedings on Monday. Prax Group, which also spans oilfield exploration and fuel retailing, is owned by a husband-and-wife team whose conduct is now the subject of an Insolvency Service investigation. Ed Miliband, the energy security secretary, ordered the probe after the government was left blindsided by Prax's financial woes. Industry sources are sceptical that a buyer will be found for Lindsey, which could put hundreds of jobs at risk. Glencore has security over crude oil supplied to the site, although the distribution of finished product is now the responsibility of the OR.
Telegraph
02-07-2025
- Business
- Telegraph
Refinery behind 10pc of UK fuel risks shutdown within days
An oil refinery that supplies 10pc of British fuel is at risk of shutdown within days, raising the prospect of disruption to national supplies. The Lindsey Oil Refinery in Lincolnshire, previously part of the Prax Group, has been plunged into chaos following the collapse of its owner. It has been in the hands of the Insolvency Service since Monday, when administrators were called in. Ed Miliband, the Energy Secretary, has been racing to secure the future of the site, which supplies Heathrow Airport. However, The Telegraph understands that deliveries of crude have stopped and refined fuels are not leaving the site either. If the situation continues, the plant will be forced to shut down by the end of this week. The hold-up is because of a lack of agreement between the Insolvency Service and commodities giant Glencore, which owns the oil and therefore any refined products until it is paid, sources told The Telegraph. Standstill leads to stockpiling So far the refinery has been able to continue operations by drawing down oil stockpiled on site and then putting the refined products into storage tanks. But there is concern that the site's available tanks will be full by the end of the week without a breakthrough in the talks with Glencore – a situation that would force the plant to shut down. Lindsey produces around one tenth of Britain's fuel supplies, including jet fuel destined for Heathrow Airport and petrol and diesel sent to hundreds of petrol stations. On Wednesday, a source close to Glencore said the company was working urgently with the Insolvency Service to resolve the impasse. A spokesman for FTI Consulting, which is managing the plant on behalf of the Insolvency Service, declined to comment. The Government insisted the UK was 'well supplied with fuel'.
