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| Lindsey Oil Refinery to shut after no buyer found | Lindsey Oil Refinery to shut after no buyer found |
| (32 minutes later) | |
| The government has been unable to find a buyer for troubled Lindsey Oil Refinery in North East Lincolnshire | The government has been unable to find a buyer for troubled Lindsey Oil Refinery in North East Lincolnshire |
| An oil refinery is to shut after the government said it was unable to find a buyer for it. | An oil refinery is to shut after the government said it was unable to find a buyer for it. |
| The Official Receiver took over the Lindsey Oil Refinery in North East Lincolnshire last month after its owner Prax went into administration, putting 420 jobs at risk. | The Official Receiver took over the Lindsey Oil Refinery in North East Lincolnshire last month after its owner Prax went into administration, putting 420 jobs at risk. |
| Energy Minister Michael Shanks said "no credible offers have been made to purchase the entire refinery and it will be winding down operations". | Energy Minister Michael Shanks said "no credible offers have been made to purchase the entire refinery and it will be winding down operations". |
| Prax Group, which is led by chairman and chief executive Sanjeev Kumar Soosaipillai, purchased the refinery from French company Total in 2021. | Prax Group, which is led by chairman and chief executive Sanjeev Kumar Soosaipillai, purchased the refinery from French company Total in 2021. |
| In a statement, Shanks said: "We are deeply disappointed with the untenable position in which the owners left Prax Lindsey Oil Refinery. | |
| "Our sympathies are with the workers, their families and the local community. | |
| "While we continue to strongly encourage the owners to do the decent thing and publicly commit to making a voluntary financial contribution to support workers, all those directly employed at the refinery are guaranteed jobs over the coming months. | |
| "The government will immediately fund a comprehensive Training Guarantee for these refinery workers to ensure they have the skills they need and are supported to find jobs in the growing clean energy workforce." | |
| He added that the Official Receiver "continues to pursue interest in individual assets". | |
| The refinery's owners, the Prax Group, went into administration last month | |
| The Unite union previously said the closure of the Immingham refinery could affect up to 1,000 jobs when taking into account contractors and the supply chain. | |
| The Department for Energy Security said the Prax Group's financial reports indicated the plant had recorded losses of about £75m between the takeover in 2021 and February 2024. | |
| Lindsey is the smallest of the UK's oil refineries, according to the government. | |
| It is located next to the larger Phillips 66 Humber refinery, which continues to operate. | |
| 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. | 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. |
| Download the BBC News app from the App Store for iPhone and iPad or Google Play for Android devices. | Download the BBC News app from the App Store for iPhone and iPad or Google Play for Android devices. |