Glencore Wins Contract to Supply Crude Oil to British Oil Refinery Lindsey
The global commodity trader Glencore has secured a tender to supply crude oil to the British oil refinery Lindsey owned by Prax with a capacity of 113,000 barrels per day, replacing the competing trader Trafigura, according to three sources familiar with the deal, as reported by Reuters. This deal strengthens Glencore’s oil trading business and follows the recent joint acquisition of the refinery and petrochemical plants from Shell in Singapore with Chandra Asri.
The UK-based independent oil company Prax selected the „most economically advantageous offer“ in a tender process that began in the fourth quarter of last year, as stated in a statement to Reuters. The company declined to disclose details of the agreement, including the winner.
Neither Glencore nor Trafigura commented on the status of their respective dealings with Prax when contacted by Reuters. (Reporting by Robert Harvey, Ron Bousso in London, and Julia Payne in Brussels; additional reporting by Tom Bergin in London, editing by Dmitry Zhdannikov and Emelia Sithole-Matarise)