Murco has denied rumours the refinery will close and says it is working with a potential buyer who wants to run the site as a business.
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Around 400 jobs have been saved after an agreement over the sale of the Murco oil refinery in Milford Haven.
The deal has been welcomed by Pembrokeshire Council, who have described the sale as 'good news' for Pembrokeshire and Wales.
The news has also been welcomed by the Minister for Economy, Science and Transport. In a statement today, Edwina Hart AM said: "Today’s announcement is very good news and the first step in securing the long-term future of the Milford Haven refinery."
The Secretary of State for Wales has welcomed the news that a deal has been reached over the future of the Murco oil refinery in Milford Haven.
On twitter, the Wales Minister described the deal between Murco Petroleum Ltd and Klesch Refining Ltd as 'excellent news' for Murco employees.
He added that it is "important to maintain UK oil refining".
It has been confirmed that a sale has been agreed on the Murco oil refinery in Milford Haven.
A deal has been agreed with Klesch Refining Ltd, and is expected to close no later than October.
– Bryan Kelly, Murphy Oil Corporation
Murphy Oil is pleased to announce that a deal has been agreed for the sale of the Milford Haven Refinery. We have worked tirelessly to find a workable solution that would see the refinery remain open, and are delighted that a positive outcome has been reached.
There are reports that an agreement has been reached over the sale of the Murco oil refinery in Milford Haven.
Hundreds of jobs were under threat when a deal to save the site collapsed in April.
News agency Reuters are this morning reporting that The Klesch Group have agreed to the buy the refinery.
ITV News understands than an announcement over the future of the refinery is due later today.
Hundreds of jobs at the Murco Oil refinery plant in Milford Haven could be saved, if a deal to sell the site goes ahead. The local MP Stephen Crabb says that an agreement has been reached in principle - which would end the current uncertainty. Nicola Hendy reports.
Commenting on the potential sale of the site a Welsh Government Spokesman said **
– Welsh Government Spokesman
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.
The owner of the Murco oil refinery at Milford Haven, Murphy Oil, has cautioned that work still needs to be done with the deal.
– Murphy spokesperson
"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 spokesperson for Murphy Oil - the owners of the Murco oil refinery have told ITV news that more work needs to be done before any sale of the site is complete.
– Murphy Oil
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."
The news of the sale of the Murco oil refinery at Milford Haven has been hailed as a boost to the economy. Conservative AM for South Wales East, William Graham, praised all those concerned with the deal.
Welcome news that the Klesch Group have bought the Murco refinery. 400 jobs saved and a boost for the Welsh economy.Well done all concerned.
The agreement in principle of the sale of the Murco oil refinery in Milford Haven has been hailed by the local MP. Stephen Crabb MP says he is "very optimistic that the sale can be completed".
"I am delighted with the breakthrough today in negotiations over the sale of the Murco oil refinery in Milford Haven. The agreement in principle reached between Murphy and the buyer is a hugely positive step forward. 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.
– Stephen Crabb, MP for Preseli Pembrokeshire
"It has felt like a race against time to find a new buyer ever since Murphy started the clock on potential closure. I am very pleased that I was able to bring the buyer into the negotiations in the first instance and help broker a deal.
"At every step of the way I have remained in close contact with all parties and have worked tirelessly to keep negotiations flowing when difficulties arose.
"All along I have been incredibly impressed with the dedication of the workforce on site who have stayed focused despite the huge cloud of uncertainty hanging over the refinery."