Oil expert Carol Bell welcomes Murco deal
29 June 2014 Last updated at 16:58 BST
Hundreds of jobs at a closure-threatened oil refinery in Milford Haven could be saved after the sale of the site was agreed in principle.
Preseli Pembrokeshire MP Stephen Crabb confirmed a breakthrough in the deal for the Murco plant had been made.
The future of the plant has been in doubt since owner Murphy Oil announced it was no longer buying crude oil to be processed at the site.
It followed the collapse of a £300m deal in April putting 400 jobs at risk.
Dr Carol Bell, an expert in the oil and gas industry, welcomed the news.