The first year performance of Lindsey Oil Refinery under new owner Prax has been reported financially, with enthusiasm underlined for cleaner fuels and production.
The North Killingholme site returned a £3 million profit, after a £195 million loss in 2020/21. Huge variations are not uncommon in the sector, with major shutdowns and huge upfront costs on a cycle, while the price and demand for oil also plays a huge factor - with volatility through the Covid pandemic.
Results for the year to February 28 - the exact 12 months on from the purchase from Total - showed revenues of £4.6 billion and an operating profit of £13.4 million.
