LONDON (June 30): Britain’s Lindsey oil refinery has begun insolvency proceedings, putting hundreds of jobs at risk and potentially increasing the country’s reliance on fuel imports just weeks after its Grangemouth refinery stopped processing oil.
Lindsey is one of six remaining oil refineries in Britain, according to the US Energy Information Administration, and employs around 420 people, according to FTI Consulting, the refinery’s special manager through the insolvency process.
Lindsey, with the capacity to refine 113,000 barrels per day, according to the website of its owner Prax, has been placed under a winding-up order alongside Prax Storage Lindsey Ltd and Prax Terminals Killingholme Ltd, the government said on its insolvency…