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REFINERY SALE A STEP CLOSER

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  • gb capitalLondon 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?

behind greybull

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.

 

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Crime

Man jailed for romance fraud after conning three women out of nearly £50,000

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A CARDIFF man who used fake identities on dating sites to defraud three women of almost £50,000 has been jailed.

Rodney Roberts, aged 40, of Trowbridge, Cardiff, was sentenced at Newport Crown Court to five years and one month in prison after pleading guilty to fraud by false representation.

Officers from the Proactive Economic Crime Team at the Tarian Regional Organised Crime Unit (ROCU), working with South Wales Police, found that Roberts defrauded three victims of a combined £49,580 between 2021 and 2024. He contacted the women through online dating and social media platforms while using the false name “Paul Smith”.

Roberts first contacted a victim in February 2021. He initially claimed to be an American from California working in the UK as an attorney and financier. He later told the victim this was merely a cover story and that he was in fact an intelligence agent. Roberts claimed that because of his work he did not have direct control of his finances and asked the victim for financial help.

During the relationship he persuaded the woman to invest money in a fictitious investment company. He also assisted her in selling her home so she could invest more money into the scheme and encouraged her to open a bank account in her name for him to use. Unknown to the victim, Roberts also opened a cryptocurrency account in her name.

Roberts contacted a second victim in October 2022. Again he encouraged her to invest in what he claimed was a lucrative opportunity promising high returns. He showed her screenshots which appeared to show the investment growing in value, but these images were fabricated. Throughout the relationship Roberts repeatedly gave excuses for why he was unable to repay the money.

He contacted a third victim in March 2024, this time claiming to be an American television producer working for the BBC on a two-year visa. Roberts told the victim he was struggling to access his American bank accounts and asked for money to help him put down a deposit on a flat. As before, he used fake screenshots of accounts to convince her the investment was genuine, before providing excuses as to why the borrowed money could not be returned.

The third victim eventually became suspicious and carried out online searches, which led her to two historic news reports detailing previous fraud offences committed by Roberts under the alias Paul Smith. She then contacted South Wales Police.

Detective Constable Amanda Davies, of Tarian ROCU, said romance fraud was a growing and highly damaging crime.

“Offenders deliberately exploit trust and vulnerability,” she said. “Victims are often left with not only significant financial losses but also psychological distress and embarrassment, which can prevent them from reporting the offence.

“I am pleased with the sentence handed down today and hope it sends a message to others who would behave in such an abhorrent way for financial gain.

“I would also like to recognise the courage shown by the victims in helping us pursue a conviction and bring Roberts to justice.”

DC Davies urged anyone forming relationships online to remain cautious.

“Common warning signs include requests for money, reluctance to meet in person or by video call, or pressure to keep a relationship secret. Another warning sign is ‘love bombing’, where a new or prospective partner overwhelms someone with excessive attention, affection or grand gestures early in the relationship.

“Fraudsters are skilled at creating narratives that sound believable. If something feels too good to be true, trust your instincts and speak to friends or family.

“If you believe you may have been a victim of romance fraud, report it to Action Fraud.”

She added that Tarian ROCU would continue to pursue fraudsters and bring them before the courts.

 

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Business

Politicians secured for key Q&A session at Visit Pembrokeshire Tourism Summit 2026

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VISIT PEMBROKESHIRE will host a highly anticipated political Q&A session at its upcoming Tourism Summit 2026, giving tourism businesses the opportunity to engage directly with candidates standing in the forthcoming Senedd elections this May.

As Wales’ first and only hybrid Destination Management Organisation, Visit Pembrokeshire brings together both public and private sector partners to support and develop the region’s visitor economy. This collaborative approach will be reflected in the format of this year’s summit, which combines leading industry speakers with a dedicated political panel discussion.

The Q&A session will provide a platform for tourism operators and industry professionals to raise key issues affecting the sector, while offering political candidates the opportunity to outline how their respective parties plan to support Pembrokeshire’s most significant economic driver.

Tourism businesses across the county continue to navigate a changing policy landscape and wider economic pressures. These include the 182-day rule for self-catering accommodation, rising operating costs, the proposed Visitor Levy, and increasing regulatory and licensing requirements.

For many operators, these pressures come alongside ongoing challenges such as recruitment difficulties, seasonality, energy costs and the need to maintain year-round viability for the many small and family-run businesses that form the backbone of Pembrokeshire’s visitor economy and rural communities.

The session will explore how the sector can work collaboratively with policymakers to support a thriving visitor economy while delivering Visit Pembrokeshire’s shared ten-year vision of becoming a world leader in regenerative tourism.

Neil Kedward, Chair of Visit Pembrokeshire’s Board of Directors, said: “Tourism is Pembrokeshire’s largest economic driver and supports thousands of local jobs, businesses and communities. With the upcoming Senedd elections, this summit provides an important opportunity for the sector to engage directly with those who may help shape the policies that affect our long-term future.

“We want our political representatives to succeed, and that means ensuring they are properly informed, connected to the businesses on the ground, and able to hear first-hand about the opportunities and challenges facing the industry. Creating space for open dialogue like this is an essential part of modern politics, particularly at a regional level where the impact of decisions is felt most directly.

“Our hope is that these conversations help build stronger understanding and partnership between tourism businesses and policymakers as we work together towards a thriving and regenerative visitor economy.”

Emma Thornton, Chief Executive of Visit Pembrokeshire, added: “The Tourism Summit is designed to bring together the people shaping the future of Pembrokeshire’s visitor economy. By inviting political candidates to hear directly from tourism businesses, we are creating an open platform for meaningful discussion about both the challenges and opportunities facing the sector.

“Pembrokeshire has an incredibly strong tourism industry, and collaboration between business, government and communities will be essential in ensuring it continues to grow in a sustainable and responsible way while achieving our shared long-term vision for the visitor economy.”

The Visit Pembrokeshire Tourism Summit 2026 will bring together tourism operators, policymakers and industry leaders from across Wales for a day of insight, discussion and networking focused on the future of the region’s visitor economy.

The event is proudly supported by Barclays, whose sponsorship reflects a shared commitment to supporting local businesses and the continued growth of Pembrokeshire’s visitor economy.

Tickets are available now via Eventbrite.

 

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Crime

Woman admits string of shop thefts and assault in Carmarthen

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A CARMARTHEN woman has been given a suspended prison sentence after admitting a string of shop thefts across the town along with assault and criminal damage.

Jessica Mudd, aged 33, of Ross Avenue, Carmarthen, appeared before magistrates facing multiple offences committed during February this year.

The court heard that Mudd carried out a series of thefts from shops in Carmarthen over a period of days.

On February 13, she stole a number of clothing items worth £85.95 from New Look in St Catherine’s Walk. On the same day she also took miscellaneous goods worth £44 from Flying Tiger in the same shopping centre.

Further offences followed later in the month. On February 20 she stole baby items worth £100 from TK Maxx in Merlin’s Walk and nappies worth £28 from B&M on Hall Street.

Two days later, on February 22, she stole cleaning products and a joint of beef valued at £85.42 from the Co-op on King Street.

The offences continued on February 24 when Mudd stole a pair of Lunar Boots worth £65 from Coco Blush in Cambrian Way.

The court also heard that on February 24 she assaulted David Gareth Watson on Mansel Street by beating him. During the same incident she damaged clothing and glasses belonging to Mr Watson.

Magistrates dealt with the offences together.

Mudd was sentenced to a suspended term of imprisonment. The custodial sentence will not take effect unless she commits further offences during the suspension period.

She was also ordered to pay £85 in prosecution costs.

The case was heard at Llanelli Magistrates’ Court.

 

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