As we were going to press yesterday (Thursday), there were fears over job losses at the Chevron refinery in Pembroke.

The oil giant has told staff it is planning a 'new downstream organisation'.

It said it had not decided whether to close any of its refineries.

The refinery has been running in Pembroke since 1964 and has 1,400 permanent and contract staff and processes 220,000 barrels of crude oil a day.

Said Lloyd Avram, manager, media relations, Chevron Corporation: "The downstream industry is going through a very difficult cycle. The global recession has reduced demand for refined products, while global refining capacity continues to surge. To improve profitability and long-term competitiveness, Chevron has created a new downstream organisation.

"This organisation is less complex, more responsive to market opportunity and smaller, requiring fewer positions and people.

"More information on the new organisation will be available in the coming months. It will be complete and in place by the third quarter. Chevron's global downstream asset portfolio undergoes continual review. No further decisions regarding assets or markets have been made."