The Lindsey oil refinery in northern England won’t continue as a going concern, Energy Minister Michael Shanks told lawmakers Tuesday.
The UK previously announced a liquidation order for the facility’s owner, Prax Lindsey Oil Refinery Ltd., leaving the country’s Insolvency Service racing to save the site. The plant recorded about £75 million ($101 million) in losses between its acquisition in 2021 and the financial year ending February 2024, Shanks previously said.
The refinery will continue processing crude for the rest of this month, and the Official Receiver will continue selling refined products for multiple weeks, giving buyers time to ...
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