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Phillips 66 completes Prax Lindsey refinery asset acquisition
Phillips 66 Limited has finalized its acquisition of assets and infrastructure from Prax Lindsey Oil Refinery Limited, integrating them into its Humber Refinery operations to enhance fuel supply capabilities in the UK. The financial terms remain undisclosed, but the acquisition is expected to strengthen Phillips 66’s role in the UK’s energy infrastructure. Despite recent financial challenges for its parent company, Phillips 66 (NYSE:PSX), analysts have maintained mostly positive ratings due to strong market performance and profitability.