Gary Klesch - courtesy of Bloomberg
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Murco oil refinery sale talks with Klesch Group welcomed

1 July 2014 Last updated at 15:52 BST

An international company which specialises in taking over troubled businesses has emerged as the most likely buyer of the Murco refinery in Pembrokeshire.

Four hundred jobs could be saved if a deal with the Klesch Group goes ahead.

BBC Wales business correspondent Brian Meechan reports.