Plans to save Milford Haven refinery Murco refinery

Phil Black - PII Editor 22/05/2014

219 1 minute read

Listen to this article

A management buyout is planned in a bid to save a closure-threatened oil refinery in Milford Haven, after a potential £300m deal for the refinery broke down last month

The managing director of Murco Tom McKinlay has taken a leave of absence as part of the proposal for the Pembrokeshire plant.

A potential £300m deal including the refinery broke down last month leaving its future in jeopardy.

A task force was set up to try to prevent the closure and protect 400 jobs.

Brian Meechan
BBC Wales business correspondent
It”s an interesting development that Mr McKinlay has taken temporary leave in the hopes of putting together a deal and brings another potential buyer on to the market – one who knows the industry and the refinery.

But all the challenges that have prevented a sale so far remain in place and time is running out as the plant potentially faces closure.

The refinery has been a major employer at the port since it opened in 1973.

Murco has confirmed that Mr McKinlay has left his position to avoid a conflict of interest.

Mr McKinlay is said to have announced the move to Murco employees on Friday.

Economy Minister Edwina Hart has said the refinery is “integral to the fabric of the oil and gas infrastructure in Wales and the Welsh economy”.