Murco’s US parent business has confirmed it is in advanced talks on the sale of its UK business.

Murphy Oil has had a long-stated aim of selling off its UK business and a spokeswoman said: “Discussions with regard to the sale of the Murco UK business by its US parent, Murphy Oil Corporation, are ongoing and are at an advanced stage.”

The sale would include the petrol station business and its Milford Haven refinery in Wales.

The potential buyer is believed to be a London-based private equity group, Greybull Capital, and it is reported to have agreed to fund a major planned maintenance at Milford Haven within the next 18 months.

Greybull Capital declined to comment.