EurOil: Glencore to supply Prax's UK Lindsey refinery with oil exclusively

Commodities trading giant Glencore has signed a deal to exclusively supply oil and associated feedstocks to Prax Group’s 113,000 barrel per day (bpd) Lindsey oil refinery in the UK, Prax said on July 9.

Prax will rely on Glencore for all its required crude oil and feedstocks at the plant in Lincolnshire under the agreement. The UK company said Glencore would use its global reach on international oil markets to secure the optimal range of crude grades for supply. Earlier it had sourced oil from Glencore rival Trafigura.

The supply deal will support Prax’s long-term investments in the refinery, including in its future transformation into a lower-carbon facility, the company said. It did not say how long the contract would last, nor what oil volumes had been committed.

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