Clive Palmer's political career appears to be over as he ruled out a bid for the Senate on Monday.

In a statement, the outgoing Fairfax MP and Palmer United Party leader said he had not sought the party's endorsement to stand for the Senate. Mr Palmer ruled out standing again in his lower house seat earlier this month, as polling showed him on track to lose.

Clive Palmer will be questioned in court on Friday over the collapse of the company that ran the Yabulu nickel refinery. Credit:Alex Ellinghausen

"There are some excellent people who have nominated to be endorsed to stand for the Palmer United Party in the Senate in Queensland and I am confident the party will continue to play a significant role in Australian political life," Mr Palmer said in a statement.

"Regardless of the party Australians vote for in the House of Representatives at the election, they should vote for Palmer United in the Senate so the Liberals or Labor won't reintroduce the 2014 budget.