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Tuesday, September 30, 2014

Murphy Oil to sell nearly a third of Malaysian assets for $2 bln, (NYSE: MUR)

U.S. oil company Murphy Oil Corp said it would sell 30 percent of its oil and gas assets in Malaysia for $2 billion in cash to Indonesian state-oil company Pertamina as it cuts overseas holdings to focus on an improving home market. The transaction is subject to the approval of Malaysia's state-owned oil and gas company, Petronas, Murphy Oil said in a statement.

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 traded higher by 1.26% or $0.72/share to $57.72. In the past year, the shares have traded as low as $54.67 and as high as $68.43. On average, 1128910 shares of MUR exchange hands on a given day and today's volume is recorded at 181483.