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Tuesday, November 4, 2014

Klesch deal on Milford Haven refinery postponed -sources, (NYSE: MUR)

Gary Klesch and Murphy Oil have extended a deadline to later this week to negotiate the U.S. oil entrepreneur's purchase of the Milford Haven refinery in Wales, sources familiar with the matter said. One source said that an Oct. 31 deadline had been missed and that an announcement on the future of the plant would be made this week. The 135,000 barrel per day refinery employs about 450 people.The Western Telegraph reported on its website that refinery staff were emailed on Friday evening to say the sale would not go ahead according to the planned timing and that the deadline had been extended to Thursday.Klesch declined to comment.

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 1.78% or $-0.95/share to $52.44. In the past year, the shares have traded as low as $49.38 and as high as $68.43. On average, 1408100 shares of MUR exchange hands on a given day and today's volume is recorded at 1907320.