'Deal can still be done for Murco refinery'

5:40pm Tuesday 8th April 2014

A DEAL to sell the vital Murco Milford Haven refinery CAN still be completed, it is being said this week.

In a glimmer of hope for the 400 staff working at the Murphy Oil-owned facility, the Western Telegraph has been told that a deal remains on the table.

Last week the staff and their families were hit by the devastating news that a deal to sell the refinery to investment firm Greybull Capital had fallen through, and management had entered into a period of consultation over the future of the refinery.

But work has continued behind the scenes since and there is optimism that a deal can be completed.

Preseli Pembrokeshire MP Stephen Crabb, said: “On Friday I met with staff and management at the Murco oil refinery in Milford Haven. “I was hugely impressed with their focus and professionalism at the end of a difficult week for them. I was also encouraged after discussing the situation with the Unite trade union. Everyone is working together to do their best to make a sale happen.”

"Over the last three days I have had further meetings and discussions with potential investors in London. I am convinced there is a deal to be done. What is striking is the widespread acknowledgement that the Milford Haven refinery is an efficient site with a strong management team and that it has a viable future."

"The refinery is too good to fail. But what we need to see in the next few days is an indication that the Murphy board in the States is willing to explore every possible avenue to make a deal happen."

The Western Telegraph understands that another potential buyer has travelled to the UK since the announcement of collapse of the deal with Greybull and remains interested.

First Minister Carwyn Jones visited the facility on Monday and said the Welsh Government was doing everything possible to support Murco and its employees.

The deal to sell the refinery to Greybull had seemed to be on the verge of completion when the sale process collapsed last Thursday.

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