The Prax Group agrees exclusive crude oil supply arrangement with Trafigura

Trafigura will use its extensive global reach in international oil markets to source the optimal range of crude oils and feedstocks for the refinery.

The Prax Group has completed an exclusive crude oil and feedstocks supply arrangement with Trafigura, a market leader in the global commodities industry.

Under the terms of the transaction, Prax will purchase crude oil and refinery feedstocks from Trafigura for all of its requirements for Prax Lindsey Oil Refinery, located near Immingham in the Humber estuary, in the North East region of the United Kingdom.

Trafigura will use its extensive global reach in international oil markets to source the optimal range of crude oils and feedstocks for the refinery. Other details relating to the transaction remain confidential.

“This arrangement is an important step in the Group’s plans for the long-term growth of the refinery and it will pave the way to further strengthen our long-term relationship with Trafigura. It will provide operational and planning flexibility, helping us to continue to deliver an excellent level of service to our customers,” said Sanjeev Kumar, CEO of the Prax Group.

The Prax Group took over ownership of Lindsey Oil Refinery from Total today. With an annual production capacity of 5.4 million tonnes, the acquisition underpins the Group’s long-term strategy to be fully integrated across the oil value chain from upstream to downstream and secures local supply for the trade and sale of oil products for its substantial downstream presence in the United Kingdom.

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