Murphy Oil has agreed to sell its Milford Haven refinery in Wales to oil entrepreneur Gary Klesch, who vowed to maintain operations at the struggling plant.The deal, which follows several failed attempts to sell the 135,000 barrels-per-day refinery over the past two years, means Arkansas-based Murphy Oil will exit most of its British operations.The price of the deal was not disclosed."We look forward to using our considerable industry expertise to return the site to profitable growth," Klesch said in a statement. "By taking a long-term investment view we aim to secure the future of this refinery for its employees and the broader community."
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 0.76% or $-0.51/share to $66.72. 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 1433575.
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