The Prax Group announces that it has completed an agreement for exclusive crude oil supply for Prax Lindsey Oil Refinery with Glencore Energy UK Ltd, a subsidiary of Glencore plc, one of the world’s largest globally diversified natural resource companies.

Prax has selected Glencore as its supply partner to build on the substantial investment the Group has made since it acquired the refinery in 2021, including the first major Turnaround & Inspection of the refinery under Prax ownership.

Under the terms of the agreement, the Prax Group will purchase crude oil and refinery feedstocks from Glencore for its requirements for Prax Lindsey Oil Refinery, located near Immingham in the Humber estuary, in the North-East region of the United Kingdom, and Glencore will use its extensive global reach in the international energy markets to source the optimal range of crude oil and other feedstocks for the refinery.

The Prax Group is committed to continue investing in Prax Lindsey Oil Refinery for the long term, and to transform it into a next generation, low carbon refinery that contributes to the UK’s energy security.

About Prax

The Prax Group refines and blends physical oil to regional, market and customer specification in strategically located terminals and warehouses around the world. We operate efficient, safe, and high-quality logistics, moving oil by barge, truck, rail, pipeline and vessel in support of our core trading activities and for third parties.

About Glencore

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities. The Group's operations comprise around 150 mining and metallurgical sites and oil production assets.

With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of offices located in over 35 countries.