US-owned Murphy Oil has revealed it is progressing the sale of its oil refinery at Milford Haven amid reports the plant could be closed.
The site employs 400 staff and has been on the market for the past three years but has failed to attract a buyer.
Accounts filed for Murphy in the US show the company filed a $105m (£63m) loss from its Milford Haven operations in the last three months of 2013.
The loss included a $73m writedown in the value of the division, which trades as Murco. The group has now classified the Wales site as "discontinued".
However, Murphy president and chief executive Roger W Jenkins said the company was continuing to "progress the disposition" of its Milford Haven plant, which it hopes to complete in 2014.
He added: "This will complete the transition of Murphy Oil to an independent exploration and production company."
Source: Insider Media
