The owner of the Lindsey oil refinery has crashed into insolvency, putting hundreds of jobs at risk at the energy conglomerate behind the Lincolnshire site.
Sky News has learnt that State Oil, the parent company of Prax Group, which has oilfield interests in the Shetlands and owns roughly 200 petrol stations, has been forced to call in administrators amid mounting losses at the refinery.
Oil industry sources said an announcement was expected later on Monday.
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One of the sources said the Official Receiver had appointed FTI Consulting to act as special manager for the Lindsey facility, with Teneo hired as administrator for the rest of the group.
About 180 people work at…