Total sells UK refinery to Prax Group

LONDON (ICIS)–Total has agreed to sell its Lindsey, UK, refinery complex to local oil products player the Prax Group, the France-based major said on Monday.

Total has divested the business, which is located in Lincolnshire, central England, on the back of its strategy to focus on integrated assets and hive off less core assets.

The company sold its UK retail network nearly a decade ago, leaving the refinery outside of its central downstream operations, according to refining and chemicals president Bernard Pinatel.

“After considering several options for the future of the Lindsey site, Total chose the one that best protects local jobs,” Pinatel added.

The refinery has an annual capacity of 5.4m tonnes/year of refined products, including 80,000 tonnes/year of methyl tertiary butyl ether (MTBE), 160,000 tonnes/year of propylene and 140,000 tonnes/year of propylene upgrade.

The deal value was not disclosed.

Front page picture source: Total