A potential buyer for Lindsey Oil Refinery (LOR) has come forward, offering to save jobs, invest long-term in the plant and increase production, but says they can’t get anyone to listen to their offer.
The update comes as a third of the refinery’s workforce were informed they will lose their jobs at the end of October.
The potential buyer, who wishes to remain anonymous for reasons of commercial sensitivity, says they have contacted Ed Miliband, Secretary of State for Energy and Climate Change, as well as the receivers FTI Consulting and Teneo, but no one has responded beyond an initial conversation.
Documents seen by Gi Grimsby News detail the buyer’s credibility, wealth and experience, showing their ability to step in and save LOR. The company currently owns refineries worldwide and has a long and successful history in the oil industry. Until the company is prepared to go public, Gi Grimsby News will use the name ‘Andrew’ to describe our contact on the company’s board.
When asked why the government did not appear to be interested in his company’s offer, Andrew said: “I have no idea, I would not like to speculate.”
Unite the Union’s recently claimed that FTI’s preferred bidder plans to mothball the site and turn it into an oil storage terminal. The union warned that while this may be the simplest option for creditors, it will wipe out jobs, damage the regional economy, and weaken the UK’s fuel security.
Andrew said he found the responses from the receivers baffling and was unimpressed by their lack of expertise and plans for selling off the refinery, stating: “They did not know what they were talking about, they don’t have a clue.”
He dismissed the idea that LOR could be sold off and the land reused for housing or farming, pointing out that it is contaminated after years of oil refining.
Andrew further highlighted the poor investment made by the disgraced former owners whose whereabouts are now unknown, which he said means the assets now hold very little value.
He told Gi Grimsby News: “There is a huge international demand for diesel and jet fuel. Sanctions are causing a lot of Russian-owned refineries to shut down.”
This, he explained, is why his company would look to increase production.
“Currently, LOR produces 130,000 per day, but we would increase this figure to 400,000. We could take over pretty much instantly and guarantee to save all the jobs of the workers.”
Local MP Melanie Onn has pledged to “support all viable options to keep the site operational.”
“The site is of huge importance to our area,” she added. “And I will continue to fight for its future and promote any credible bids with the Government.”
Gi Grimsby News has contacted FTI and Teneo for comment, but they have not yet responded.
Roy Horobin
Joined the Gi Grimsby News team in 2025.