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Prax Group completes acquisition of Lindsey oil refinery
The Prax Group has completed its acquisition of Total’s Lindsey oil refinery and its associated logistic assets in the UK.
Located five miles from the Humber Estuary in North Killingholme, North Lincolnshire, the refinery has an annual production capacity of 5.4mn tonnes. It is one of Europe’s most advanced refineries, processing over 20 different types of crude including, petrol, diesel, bitumen, fuel oil and aviation fuels.
Commenting on the news, Sanjeev Kumar, CEO of Prax Group, says: ‘Our long-term strategy is to be fully integrated across the oil value chain from upstream to downstream. The acquisition of Lindsey oil refinery is a natural progression for the Group, providing the opportunity to integrate the refinery and its associated product flows into the company’s UK distribution and retail footprint, which operates under the Harvest Energy brand. This will create opportunities for synergies with existing Prax-owned assets.’
The acquisition includes Lindsey oil refinery, the Finaline pipeline and the Killingholme loading terminal, together with shares in joint venture operations.
Photo: Lindsey Oil Refinery
