Murphy Oil Corporation Announces Failed Sales Process For Milford Haven Refinery

abarrelfullabarrelfull wrote on 10 Nov 2014 08:14
Tags: europe murphy refinery uk

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Murphy Oil Corporation (NYSE:MUR) announced today that its wholly owned subsidiary, Murco Petroleum Limited, was unable to complete the sale of the Milford Haven refinery and terminal assets to Klesch Refining Limited by the October 31, 2014 deadline.

The refinery is currently in a period of shut-down, and will be decommissioned and operated solely as a petroleum storage and distribution terminal. The Company will seek a buyer for the terminal facility along with three inland terminals. The sale of the Company's retail assets is unaffected by the inability to sell the refinery.

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