Oil & Gas News – Early January 2026
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Thousands of jobs are set to be saved after part of energy services firm Petrofac was bought out of administration.
American company CB&I has announced it has entered into a deal to buy the firm’s asset solutions business in the first quarter of 2026.
Petrofac employs 3,000 people in the UK, including about 2,000 in Aberdeen.
Sourced from BBC website
The assets of Prax Lindsey Oil Refinery, in North Killingholme, North Lincolnshire, and four associated Prax businesses are to be sold to Phillips 66 following an agreement reached earlier this month.
The deal covers the assets of Prax Lindsey Oil Refinery, Prax Storage Lindsey, Prax Terminals Killingholme Limited, Prax Terminals Jarrow and Prax Downstream UK. An agreement to sell the assets was reached on Monday (5 January).
The companies were wound up from June last year, with the official receiver appointed to oversee the liquidations and the ongoing operation of the refinery.
Sourced from TheBusinessDesk
Cadent has set out early-stage plans for a major new hydrogen pipeline linking the Humber with Lincolnshire and Nottinghamshire, aimed at supplying low-carbon hydrogen to industrial users across the region.
The proposed H2East Pipeline: Humber to Nottinghamshire would run for around 150km (93 miles), largely underground, from Immingham to Newark. If delivered, the pipeline would enable manufacturers in sectors including steel, chemicals, bricks and food production to switch from natural gas to hydrogen as part of wider decarbonisation efforts.
Sourced from TheBusinessDesk
