The Prax Group has reached agreement for exclusive crude oil supply for its Lindsey Oil Refinery with Glencore Energy UK Ltd, a subsidiary of Glencore plc, one of the world’s largest globally diversified natural resource companies.
Prax has selected Glencore as its supply partner to build on the substantial investment the Group has made since it acquired the refinery in 2021, including the first major Turnaround & Inspection of the refinery under Prax ownership.
Under the terms of the agreement, the Prax Group will purchase crude oil and refinery feedstocks from Glencore for Prax Lindsey Oil Refinery, near Immingham in the Humber estuary, and Glencore will use its extensive global reach in the international energy markets to source the optimal range of crude oil and other feedstocks for the refinery.
The Prax Group is committed to continue investing in Prax Lindsey Oil Refinery for the long term, and to transform it into a next generation, low carbon refinery that contributes to the UK’s energy security.
