Fading hopes for UK's Milford Haven refinery as sale collapses

Greybull Stewardship private-equity fund have pulled out of talks with the refinery's owner

The UK is facing another loss of refining capacity, after US company Murphy Oil said talks to sell its Milford Haven, Wales, refinery had collapsed. In early April the firm broke off exclusive negotiations with the prospective buyer, the Greybull Stewardship private-equity fund, after deadlines had been missed. Murphy said it was talking to "a small number of interested parties", but noted that it had been trying unsuccessfully to sell the facility for more than three years. The 135,000 barrels a day (b/d) refinery, on the western tip of Wales, is the smallest of the UK's remaining seven refineries but it benefits from the deep-water port at Milford Haven, which can accommodate tankers of up