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US energy company Valero to buy Chevron refinery in Pembrokeshire

Pembroke refinery is to be sold to the largest oil refiner in the US in a deal worth $1.73 bln. It’s current owner Chevron has been seeking a buyer for the last year.

Valero Energy Corp will pay $730 million for the Pembroke refinery and another $1 billion for the plant’s inventories, giving the U.S. refiner its first foothold in Europe.

Simon Hart MP has described the refinery as ‘tremendous news’ for the Welsh economy.

Watch an interview with energy expert Will Kennedy about the sale

The Chevron plant, which employs 1400, is one of two refineries in Pembrokeshire currently up for sale.

The other, Murco’s refinery in Milford Haven, employs around 370.

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