Total has signed an settlement to promote the Lindsey refinery and its related logistic property, in addition to the entire associated rights and obligations, to the Prax Group.
Located in Immingham (Lincolnshire) in England, the Lindsey refinery has an annual manufacturing capability of 5.four million tons. This acquisition will make Prax – an impartial British group specialising within the commerce and sale of oil merchandise and in possession of a rising community of 150 service stations and quite a few provide chain property – extra built-in and aggressive within the United Kingdom and can safe its native provide.
“This transaction is according to our forward-looking technique for Total’s European refining base, which entails focusing our investments on built-in refining and petrochemical platforms. Since the sale of our British retail community in 2011, the Lindsey refinery hasn’t been a part of Total’s downstream system, it will likely be put to raised use throughout the Prax Group; an impartial participant with a rising UK community. After contemplating a number of choices for the way forward for the Lindsey website, Total selected the one which finest protects native jobs,” commented Bernard Pinatel, President of Total Refining & Chemicals.
The refinery entered service in May 1968 as a joint undertaking between Total and Fina and at the moment employs a everlasting employees of round 500, in addition to a number of hundred contractors on website, rising to as much as a number of thousand throughout main turnaround and upkeep initiatives. It is known as after the previous Lindsey pre-1974 native authorities space of Lincolnshire. In 1999, Total took full management of the plant, when it purchased Fina.
It processes roughly 10,000,000 tons of crude oil per 12 months, or 200,000 barrels per day by way of two pipelines. This makes Lindsey Britain’s third largest oil refinery.
(Source Total)

The put up UK – TOTAL SELLS THE LINDSEY REFINERY TO THE PRAX GROUP appeared first on Energy Global News.

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