logo
Lindsey oil plant set to close with loss of 400 jobs leaving UK with just four major refineries

Lindsey oil plant set to close with loss of 400 jobs leaving UK with just four major refineries

Daily Mail​22-07-2025
One of Britain's last remaining major oil refineries is closing after no buyers were found. The Lindsey Oil Refinery in North East Lincolnshire will shut in the coming weeks after owner Prax crashed into administration last month.
The closure of the plant on the banks of the River Humber will cost more than 400 jobs and leave Britain with just four major refineries.
Energy Minister Michael Shanks said the firm was left in an 'untenable' position by Prax owners, husband and wife Sanjeev and Arani Soosaipillai.
Shanks said yesterday: 'We are deeply disappointed with the untenable position in which the owners left Prax Lindsey Oil Refinery.
'Our sympathies are with the workers, their families and the local community.
The Government will immediately fund a comprehensive Training Guarantee for these refinery workers to ensure they have the skills they need and are supported to find jobs in the growing clean energy workforce.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Sainsbury's sells travel money business to Fexco
Sainsbury's sells travel money business to Fexco

Finextra

time14 minutes ago

  • Finextra

Sainsbury's sells travel money business to Fexco

UK supermarket group Sainsbury's is offloading its travel money business to Ireland's Fexco. Financial terms were not disclosed. 0 Fexco will take over all operations of Sainsbury's Travel Money, including digital platforms and more than 220 bureaux within the supermarket's stores. Services will continue to operate under the Sainsbury's brand with the company receiving an ongoing share of revenue and rental income. The deal increases Fexco's UK retail footprint to more than 460 locations, making it a top five player in the sector. Bláthnaid Bergin, CFO, Sainsbury's, says: With specialist expertise and a strong track record in foreign exchange, Fexco Group is a strong fit for our business. I'm also pleased to confirm that there will be no immediate changes, and customers can expect the same high level of service they know and trust.' Sainsburys has been withdrawing from financial services in the last two years, selling its retail banking operations to NatWest, offloading is mortgage book to Co-operative Bank, and handing over its ATM business to NoteMachine.

Ofwat chief executive David Black to stand down
Ofwat chief executive David Black to stand down

The Independent

time14 minutes ago

  • The Independent

Ofwat chief executive David Black to stand down

The chief executive of Ofwat is to step down as the embattled water regulator prepares to be abolished. David Black will leave the role at the end of August and an interim chief executive will be appointed in due course. The Government last month announced the regulator would be axed in a regulatory shake-up that comes as part of its response to public outrage over rising bills, sewage pollution and large bonuses for bosses. Ofwat may not be formally axed until at least 2027, with the process to overhaul the current system likely to be complex. The regulator said Mr Black, who took over as chief executive in 2021 and had worked in various roles at Ofwat since 2012, had decided the time is right for him to pursue new opportunities. In a statement on Tuesday, he said: 'I have been privileged to be able to lead Ofwat over the last four years, during which time we have achieved a huge amount together as a team for customers and the environment. 'I wish the team every success as they continue their important work.' The four bodies responsible for regulating the sector have faced intense criticism for overseeing companies during the years where they paid out to shareholders and accrued large debts – while ageing infrastructure crumbled and sewage spills skyrocketed. Currently, Ofwat oversees how much water companies in England and Wales can charge for services, the Drinking Water Inspectorate ensures that public water supplies are safe, while the Environment Agency and Natural England have regulatory functions to monitor the industry's impact on nature. Under Government plans, measures will be rolled out to merge their regulatory responsibilities into a 'single, powerful' regulator – one for England and another for Wales. The move was recommended by an independent review into the sector, which was commissioned by ministers to answer public fury over the ailing state of the water sector. Led by former Bank of England governor Sir Jon Cunliffe, the review advised far-reaching changes to the way the water system is regulated as one of 88 measures to tackle problems in industry. As part of its own response to the crisis, Ofwat said it would allow firms to raise average bills from 2025 to 2030 to help finance a £104 billion upgrade for the sector as part of its so-called price review, published in December. In his statement on Tuesday, Mr Black said: 'The 2024 price review backed an investment programme of £104 billion, along with a further £50 billion investment in major new water resources, which will improve service, environmental outcomes and resilience in the years to come.' Consumer groups at the time warned that the increases were 'more than what many people can afford', with companies able to raise average bills by £157 in total over the next five years to £597 to help finance the £104 billion. Ofwat chairman Iain Coucher said: 'David has worked, tirelessly, to bring about transformational change in the water sector. 'He has sought new regulatory powers and resources to hold companies to account, taken major enforcement action and provided funding and incentive packages that drive continual improvements for customers. 'On behalf of the board and everyone at Ofwat, I would like to thank David for his leadership and his service over the last 13 years and to wish him every success in the future.'

Embattled Ofwat boss resigns amid sewage crisis
Embattled Ofwat boss resigns amid sewage crisis

Telegraph

timean hour ago

  • Telegraph

Embattled Ofwat boss resigns amid sewage crisis

David Black has resigned as chief executive of Ofwat, just weeks after the Government called for the beleaguered water regulator to be scrapped. The watchdog confirmed on Tuesday that Mr Black will step down from his position at the end of August, with an interim successor to be announced in due course. It brings an end to Mr Black's tumultuous stint in charge of Ofwat, which has been subject to increasing criticism over its failure to tackle sewage spills. He has been the chief executive of Ofwat since April 2022, having initially joined the regulator in 2012. His planned departure comes after a review published last month by Sir Jon Cunliffe, which called for the water regulator to be abolished. In a damning assessment of Ofwat, the former deputy governor of the Bank of England criticised the 'deep-rooted, systemic' problems in the water sector, which have led to worsening pollution. It added that Ofwat had failed to prevent businesses in the water industry from 'making imprudent financial decisions'. This culminated in the crisis at Thames Water, which is facing the threat of nationalisation after failing to tackle a £17bn debt pile. Prior to the Cunliffe review, Steve Reed, the Environment Secretary, said Ofwat was 'clearly failing' as it had created a regulatory system that allowed the industry to 'get away with it'. He went further last month by scrapping Ofwat altogether, as he said that a new regulatory body will be introduced to mark the 'biggest overhaul of water regulation in a generation'. He added that a new regulator for the water industry would be given legal powers to intervene if customers are overcharged. The date of Ofwat's abolition has not yet been announced. After announcing his departure, Mr Black said: 'I have been privileged to be able to lead Ofwat, over the last four years, during which time we have achieved a huge amount together as a team for customers and the environment. 'The 2024 price review backed an investment programme of £104bn, along with a further £50bn investment in major new water resources, which will improve service, environmental outcomes and resilience in the years to come. I wish the team every success as they continue their important work.' Iain Coucher, the Ofwat chairman, added: 'David has worked, tirelessly, to bring about transformational change in the water sector. He has sought new regulatory powers and resources to hold companies to account, taken major enforcement action and provided funding and incentive packages that drive continual improvements for customers.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store