The Prax Group has signed an agreement with Total to purchase Lindsey Oil Refinery in Lincolnshire, U.K., and its associated logistics assets, with the deal subject to the conditions of sale being met. With a strong track record of integrating acquisitions and managing assets in the oil value chain, the Prax Group is a long-standing and trusted partner of Total.
“The Prax Group’s long-term strategy is to be fully integrated across the oil value chain from upstream to downstream,” said Sanjeev Kumar, CEO of the Prax Group. “Acquiring Lindsey Oil Refinery is a natural progression for the Prax Group, providing the opportunity to integrate the refinery and associated product flows into the company’s U.K. distribution and retail footprint, which operates under the Harvest Energy brand. We look forward to continuing to provide a secure supply of energy to new and existing customers.”
The acquisition is expected to conclude before the end of 2020.
The agree
