The Milford Haven refinery in Wales will remain idle until Klesch Group completes its acquisition from Murphy Oil, probably at the end of October, chairman Gary Klesch said on Thursday. "My guess is we will close it (the acquisition) in the end of October and re-start it (the refinery) very, very shortly thereafter," Klesch told Reuters.Murphy Oil has agreed to sell its 135,000 barrels per day Milford Haven refinery to Klesch, who vowed to maintain operations at the struggling plant.Murphy halted production at the plant in May after failing to strike a deal with London-based private equity fund Grey Bull.
Murphy Oil Corporation is a worldwide oil and gas exploration and production company with retail and wholesale gasoline marketing operations in the United States and refining and marketing operations in the United Kingdom. Shares of MUR fell by 4.42% or $-2.95/share to $63.77. In the past year, the shares have traded as low as $54.67 and as high as $68.43. On average, 1248490 shares of MUR exchange hands on a given day and today's volume is recorded at 1527434.
Source
