Chevron looking to sell Welsh refinery

By Rowena Mason 530AM GMT 10 March 2010

The association pronounced it was seeking to "solicit bids" for the Welsh site that employs 1,400 people.

It is accepted that Essar, the Indian organisation in talks with Shell about shopping the Stanlow plant, is not meddlesome in the intensity acquisition, nonetheless it is actively seeking to enhance the European portfolio.

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Chevron ruled out shutting down or mothballing the industrial site similar to the French opposition Total, that this week pronounced the Dunkirk refinery would be converted in to a gas plant after it lay resting for majority months.

But the plans are piece of wider re-evaluation of the commercial operation and restructuring that will engage 2,000 redundancies worldwide, with majority cuts opposite the US, Africa and Asia.

Ieuan Wyn Jones, the Welsh Deputy First Minister, pronounced he had oral to Chevron yesterday morning.

"They have already told us that no preference has been taken to sell their Pembroke site, but are endeavour an practice to brand probable buyers. As Chevron"s usually refinery in Europe, this site is of outrageous stress in conditions of enlightening genius and mercantile worth to the area, Wales and the UK."

Jeff Beck, informal organiser of the GMB union, pronounced "The destiny of this refinery is positively consequential for practice in west Wales."

Oil majors have been shedding their refineries opposite the creation after stating waste in their downstream units on diseased margins from the plants, that modify wanton in to inorganic substance products.

Analysts pronounced that Asian companies are majority expected to tarry the additional genius in the enlightening industry since their costs are lower.

Chevron"s Pembroke refinery initial non-stop in 1964 and provides motor fuel to the oil company"s 1,100 Texaco stations opposite the UK.