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| Murco: Sale 'agreed' for oil refinery in Milford Haven | Murco: Sale 'agreed' for oil refinery in Milford Haven |
| (about 2 hours later) | |
| Hundreds of jobs at a closure-threatened oil refinery in Milford Haven could be saved after the sale of the site was agreed in principle. | Hundreds of jobs at a closure-threatened oil refinery in Milford Haven could be saved after the sale of the site was agreed in principle. |
| Preseli Pembrokeshire MP Stephen Crabb confirmed a breakthrough in the deal for the Murco plant had been made. | Preseli Pembrokeshire MP Stephen Crabb confirmed a breakthrough in the deal for the Murco plant had been made. |
| The future of the plant has been in doubt since owner Murphy Oil announced it was no longer buying crude oil to be processed at the site. | |
| It followed the collapse of a £300m deal in April putting 400 jobs at risk. | It followed the collapse of a £300m deal in April putting 400 jobs at risk. |
| The refinery has been a major employer at the port since it opened in 1973. | The refinery has been a major employer at the port since it opened in 1973. |
| Mr Crabb said he was delighted with the breakthrough. | Mr Crabb said he was delighted with the breakthrough. |
| "The agreement in principle reached between Murphy and the buyer is a hugely positive step forward," he added. | "The agreement in principle reached between Murphy and the buyer is a hugely positive step forward," he added. |
| 'Challenges ahead' | |
| "The sale will secure hundreds of high quality jobs and will enable the refinery to continue operating fully. | "The sale will secure hundreds of high quality jobs and will enable the refinery to continue operating fully. |
| "There remain challenges ahead, and a due diligence process to be completed, but I am just so pleased that we have reached this point. I am very optimistic that the sale can be completed. | "There remain challenges ahead, and a due diligence process to be completed, but I am just so pleased that we have reached this point. I am very optimistic that the sale can be completed. |
| "It has felt like a race against time to find a new buyer ever since Murphy started the clock on potential closure." | "It has felt like a race against time to find a new buyer ever since Murphy started the clock on potential closure." |
| Although an agreement has yet to be finalised, it is understood the potential buyer is oil entrepreneur Gary Klesch. | Although an agreement has yet to be finalised, it is understood the potential buyer is oil entrepreneur Gary Klesch. |
| The Switzerland-based Klesch Group specialises in the production and trading of chemicals, metals and oil. | The Switzerland-based Klesch Group specialises in the production and trading of chemicals, metals and oil. |
| The plant - which can produce 135,000 barrels a day, is currently not buying crude oil, but recycling oil products to keep it operational. | The plant - which can produce 135,000 barrels a day, is currently not buying crude oil, but recycling oil products to keep it operational. |
| A spokesperson for Murphy Oil gave the proposed sale a cautious welcome. | |
| They said: "Murphy feel that solid progress has been made in negotiations, but caution that substantial work remains to done. | |
| "If the past has taught us anything, it is that these sales are especially challenging and we are not assured of success. | |
| A Welsh government spokesperson said: "The plant is a vital part of the Welsh economy and we have been working tirelessly to secure its future, working closely with the current owners, potential buyers and government at all levels. | A Welsh government spokesperson said: "The plant is a vital part of the Welsh economy and we have been working tirelessly to secure its future, working closely with the current owners, potential buyers and government at all levels. |
| "We remain committed to exploring every possible angle in supporting the company and the workforce." | "We remain committed to exploring every possible angle in supporting the company and the workforce." |