EPISODE · Aug 27, 2025 · 25 MIN
Refinery Economics on the Brink of Bankruptcy
from Wolfe Power Club Podcast · host Alex Wolfe
In this week’s episode, our host Alex explores Britain’s shrinking refinery sector, which has fallen from over 20 sites in the 1970s to just 4 today. The Prax Lindsay Oil Refinery is now closing, marking another blow to the industry. Meanwhile, the owners’ fortunes have reversed, shifting from Rich List billionaires to facing a £250 million outstanding tax bill to the UK government. Alex unpacks two decades of refinery shifts across Europe, what keeps them viable, and the real factors driving profitability.This recent closure brings great sadness to the Wolfe Power Club as we know many of the highly skilled workers were affected. Alex has spent 20 years helping companies and organisations buy, sell and make downstream assets work. This week, we will be doing a deep dive into refinery economics. CreditsStunning Evening Drone Footage Of The Lindsey Oil Refinery (Trevor Smith - YouTube)4K Drone Refineries Port Arthur TX 60fps (TomsDs - YouTube)Too big too fast: how $10bn UK energy challenger Prax unravelled (Financial Times)"What Has Gone Wrong?!" | Lincolnshire Oil Refinery To Shut After Owner Goes Bust (TalkTV - YouTube)July 2025 (Portland Fuel)Wolfe Power Club is proud to be partnering with the Spectator Magazine to co-host their Energy Summit 2025 on November 24th. If you want to become a potential partner and have the last word on energy debates in 2025, please contact us.Season Two is in Partnership with The SpectatorTickets for the upcoming The Spectator Energy Summit, on Monday 30th November 2026, are available on sale. Use code: WPC50 for 50% off your purchaseIf you would like to partner with The Spectator Energy Summit, please contact Alex on LinkedIn or [email protected] Our SocialsWebsite: https://www.wolfepowerclub.com/YouTube: https://www.youtube.com/@WolfePowerClubLinkedIn: https://www.linkedin.com/company/wolfe-power-club/Instagram: https://www.instagram.com/wolfepowerclub/?hl=enTikTok: https://www.tiktok.com/@wolfe.power.club Wolfe Power Club Production TeamFounder and Host: Alex WolfeDirector of Government Relations: Max AustinDesigner: Nick PelekanosEditor: Adam WoodwardSocial Media Manager: Bella Carter Recorded at Studio 55 - which has produced podcasts, including Breaking the Taboo with Theo Clarke and The ABTO Podcast
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In this week’s episode, our host Alex explores Britain’s shrinking refinery sector, which has fallen from over 20 sites in the 1970s to just 4 today. The Prax Lindsay Oil Refinery is now closing, marking another blow to the industry. Meanwhile, the owners’ fortunes have reversed, shifting from Rich List billionaires to facing a £250 million outstanding tax bill to the UK government. Alex unpacks two decades of refinery shifts across Europe, what keeps them viable, and the real factors driving...
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Refinery Economics on the Brink of Bankruptcy
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