News
REFINERY SALE A STEP CLOSER
London based investment firm tipped to purchase Murco plant- Greybull Capital tipped to buy the struggling refinery
- Plant and retail petrol stations would continue operating
MURPHY OIL is in advanced talks to sell its Milford Haven refinery to a low-profile private equity fund that will continue operating the struggling plant, sources familiar with the situation said on Tuesday.
The American oil giant has been trying to sell the 135,000 barrels-per-day plant and its Murco petrol stations for around four years. But buyers who were willing to keep it running have proved elusive as European refineries fight for survival due to failing demand.
A deal is now moving closer with London-based Greybull Capital after it had agreed to fund a major planned maintenance at the plant within the next 18 months, sources said.
“There is a form of agreement pending finance,” said a source close to the negotiations.The maintenance turnaround at Milford Haven was expected to cost less than $75 million, the source said. The full cost of the deal was unclear.
The source said that a commitment to fund the turnaround was vital to prevent any buyer from running the plant for a short time before closing it down to sell assets, or demand a government bailout. Greybull has in the past focused on financing deals to buy struggling British high street chains such as the ultimately doomed electrical goods outlet Comet. It declined to comment on the Milford Haven discussions.Greybull would probably need to partner with either a commodity trading house or a bank with trading capabilities in order to secure the funding for the deal to keep the 450 employees in place.
“They are trying to raise the money in order to keep the work force in place,” an industry source said.
A spokeswoman for Murco, the Murphy Oil subsidiary that operates the refinery, confirmed talks for the sale of the refinery were coming closer to a conclusion.
“Discussions with regard to the sale of the Murco UK business by its U.S. parent, Murphy Oil Corporation, are ongoing and are at an advanced stage,” Emma Murphy said in an email.
Retail Outlets
Murco’s 400 petrol stations across the country would also be part of the deal.
“The buyers will purchase the Murco name and the supply system which will continue to supply the Murco petrol stations,” the industry source said.
Murco also operates three storage and distribution terminals in Britain which are supplied by rail from the refinery and handle around 2 million tonnes of oil product a year, according to the company’s website.
The Welsh plant, like other British and European refineries, has struggled in recent years due to weak demand in the region and in its U.S East Coast export market, as well as growing competition from U.S., Russian and Asian plants – factors which have hammered margins.
India’s Essar Energy said last month it will shutter one third of its production capacity at Britain’s second-largest oil refinery Stanlow.Last year the Grangemouth refinery in Scotland was brought to the brink of closure following a bitter industrial dispute, after owner Ineos said it needed to slash costs to keep it viable.
This followed the closure of the Coryton plant owned by bankrupt Petroplus which closed in 2012. Greybull is led by the brothers Nathaniel and Marc Meyohas, who operate from a small office in London’s Knightsbridge. The pair try to keep a low profile but shot to fame two years ago when they were involved in the Comet scandal.
Greybull was among the backers that had bankrolled a buyout of the electricals retailer by the former banker Henry Jackson, who sparked outrage when he pulled the plug on Comet just months later, triggering thousands of job losses.
The investment company has declined to comment on their plans over the Murco site. Councillor David Pugh, Cabinet Member with Responsibility for Economy, Tourism, Communities and the Voluntary Sector, said: “We have been aware for some time that Murco is in advanced discussions with a potential purchaser. We are pleased to hear that these negotiations are now nearing completion and that the future of the Refinery is looking more secure.
He added: “Our officers, together with the Welsh Government’s Energy and Environmental team, are in regular contact with Murco and the company is aware of our support for them and whoever acquires the business.”
Who is behind Greybull Capital?

THE OFFICES of Greybull Capital are discreetly placed in the heart of London’s upmarket Knightsbridge.
These are the offices of the company reported to be behind the proposed purchase of the Murco’s operations in the UK, including petrol stations and crucially for Pembrokeshire the refinery at Milford Haven.
Behind tinted windows, brothers Marc and Nathaniel Meyohas have been behind the financing of takeovers of well-known troubled brands and High Street names, such as Game and most famously Comet. Last year the company was involved in the rescue and restructuring of Metaltrax, a West Midlands-based manufacturer of bakeware and kitchen accessories, saving a reported 387 jobs.
Greybull was closely involved in the investor group behind OpCapita’s purchase of troubled electrical retailer Comet. The withdrawal of support by a key American investor before Christmas 2012 caused Comet to collapse with the loss of 7,000 jobs at the retailer’s stores nationwide.
Before founding Greybull Capital, Marc Meyohas was the founder and CEO of Cityscape a leading provider of digital urban networks in the UK. Nathaniel Meyohas is no stranger to the petrochemical industry, having in the past been involved in arranging a shareholder loan of $40m to multinational company Manoir Industries.
Most recently Greybull Capital have acquired the British assets of plastic bottle maker Constar for a reported $8m.
News
OPINION: The Mandelson row won’t sink Starmer. The handling will, and soon
by Tom Sinclair, Editor
IN POLITICS, mistakes rarely bring down a prime minister. Handling does.
In the space of twenty-four hours Sir Keir Starmer has lost both his chief of staff and his director of communications. Two of the most senior figures in Downing Street have walked away at the very moment the government most needed steadiness and control.
This is not a policy crisis. It is a handling crisis, and handling, fair or not, often matters more than reality.
The original issue, the appointment of Peter Mandelson as US ambassador despite his long-documented association with Jeffrey Epstein, should have been a short-lived Westminster row. A judgement call that some supported for his experience and others opposed on reputational grounds. The sort of story that fills a day’s headlines and then fades.
Instead it has lingered and grown, turning a questionable decision into a rolling argument about judgement at the top of government.
The reason is simple. The Prime Minister did not take ownership quickly enough.
This could have been finished in half a minute. Step outside Number 10, face the cameras, and say clearly that the decision was his, that on reflection it was the wrong call, and that the government was moving on.
Voters tend to forgive honesty. They do not forgive hesitation.
Instead there was silence, followed by briefings and then resignations from close aides apparently taking responsibility. That convinces no one. Everyone understands that decisions of this scale come from the Prime Minister. Watching staff fall on their swords simply makes a leader look weak and defensive.
That is how a small political problem becomes a story about loss of control.
The irony is that Starmer is probably doing exactly what many people said they wanted after years of chaos. He governs cautiously. He focuses on the books. He tries to fix systems rather than chase headlines. It is careful, technocratic politics.
But careful management is almost invisible.
The public does not see departmental reforms or balanced spreadsheets. They see confidence, clarity and momentum. When they instead see confusion and senior figures quitting, they conclude that something is going wrong, whether it is or not.
Meanwhile Nigel Farage and Reform UK offer little detail but communicate relentlessly. Their message is simple and easy to repeat. The country is broken and they will fix it. That alone is enough to dominate the conversation, even without a fully worked-out plan.
It is not competence that cuts through. It is clarity.
That is where the real danger lies for Starmer.
Prime ministers are rarely removed because of one bad decision. They fall when their own MPs start to doubt that they can win the next election. Once that doubt takes hold, confidence drains quickly. Backbenchers get nervous. Donors start asking questions. Quiet conversations begin about alternatives.
Two senior resignations in a day do not just look messy. They suggest that the centre is not holding. If upcoming local elections or by-elections go badly, that doubt will harden.
If Labour MPs begin to believe that Starmer cannot sell a story to the country, that perception alone could end his premiership, regardless of how responsibly he is governing.
The harsh truth is that you can quietly repair a nation and still lose office if nobody notices.
In modern politics, communication is not decoration. It is survival. Right now, that is exactly what Downing Street appears to have lost.
News
Fresh concerns over £60m A40 scheme after resurfacing works just months after opening
QUESTIONS are being asked about the condition of the newly-opened A40 Llanddewi Velfrey to Redstone Cross carriageway after sections of the road were dug up and replaced less than a year after completion.
The £60 million upgrade between Llanddewi Velfrey and Redstone Cross opened around nine months ago, aimed at improving safety and traffic flow on one of the main routes into Pembrokeshire.
However, motorists travelling the route on Monday (Jan 26) reported temporary traffic lights and lane closures while contractors removed part of the carriageway surface and loaded material into HGVs.
The works appeared more extensive than minor patching or snagging, prompting concerns about potential costs to taxpayers.
Pembrokeshire county councillor Huw Murphy said he had witnessed what looked like a significant section of road being lifted and replaced.
He said: “It was evident that an element of the carriageway was being removed and replaced, with lorries taking away the scalpings. The work appeared fairly significant rather than minor remedial works.”
Cllr Murphy questioned why a road opened less than a year ago would already require resurfacing.
“Even with limited engineering knowledge, you would reasonably expect a new road not to need this level of work for many years,” he said. “It certainly raises questions when you see substantial works within 12 months of opening.”
The A40 is regarded as a key gateway into the county, carrying commuters, freight traffic and tourism vehicles. Any disruption or repeat works can add delays and increase costs.
Cllr Murphy has written to the Trunk Roads Agency requesting an explanation and has asked for the total cost of the resurfacing works to be disclosed. He said he is happy for the request to be treated as a Freedom of Information enquiry.
He added that residents would expect reassurance that public money is being spent efficiently, particularly at a time when councils are facing budget pressures and council tax levels are under scrutiny.
The Herald has approached the trunk road authorities for comment on the reason for the works, whether the repairs fall under warranty or defects liability, and what costs – if any – will fall to the public purse.
A response is awaited.
Community
Creative adventures at Oriel y Parc to celebrate St David’s Day
FROM the dragon’s fire to the boar’s roar, legends are on the move again this February half-term as Oriel y Parc, National Park Discovery Centre invites families to step into a world of myth, creativity and celebration in the lead-up to St David’s Day.
Running throughout half-term and into St David’s Day weekend, the programme brings together hands-on creative activities, immersive storytelling and one of Pembrokeshire’s most colourful annual celebration, the St David’s Day Parade. This year’s parade features Taith y Chwedlau /The Journey of the Legends, funded by the Welsh Government.
From Saturday 14 February to Sunday 1 March, young adventurers can take part in the Journey of the Legends Trail, following the troublesome Twrch and the determined Ddraig Goch as their story unfolds across the city of St Davids. Families can search for story stops along the trail, complete the challenge and earn a reward. Trail sheets are available from Oriel y Parc (£4 per child).
Creativity takes centre stage inside Oriel y Parc throughout half-term. The Discovery Room will be open from 14 to 27 February (excluding 17,18 and 19 February), offering free, drop-in sessions where families can create dragon headdresses and boar masks using a wide range of art materials. Suitable for all ages, these sessions give young makers the chance to become part of the St David’s Day celebrations by wearing their creations in the parade.
A special Make & Take Workshop: Dragon Wings & Giant Daffodils takes place on Wednesday 18 February, 11am–3pm, where children can create bold, wearable pieces ready for parade day (£4 per child, drop-in).
The celebrations reach their peak on Saturday 28 February, when the St David’s Day Parade fills the city with music, colour and creativity. Storytelling plays a key role in the day, with Taith y Chwedlau / The Journey of the Legends storytelling sessions taking place in the Oriel y Parc courtyard before and after the parade from 1.30pm, bringing the characters of the trail to life for audiences of all ages.
The parade begins at 2pm and is free to attend. Everyone is invited to line the streets and cheer on schoolchildren, community groups and local residents as they transform St Davids’ High Street in honour of Wales’ patron saint. The parade is funded by the Welsh Government.
Visitors are encouraged to bring pots and banging sticks to add to the atmosphere, and participants can enter the best parade outfit competition, with prizes for both the best dressed child and adult.
Following the parade, families can continue the celebrations with Celebrate St David’s Day with Clay! A relaxed, hands-on workshop inspired by Welsh themes and traditions from 3pm–4.30pm (£2.50 per child).
The day also features a Handmade Craft Market by Makers Bizarre, running from 10.30am–4.30pm, showcasing hand-picked local stallholders selling handmade crafts and produce (free entry).
Further details about events, opening times and a rich programme of changing exhibitions, both in partnership with Amgueddfa Cymru, Museum Wales and local artists and makers can be found at www.orielyparc.co.uk and www.pembrokeshirecoast.wales/events.
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