Murphy Oil Expects to Sell Wales Refinery in Early 2012
Investing News Network - November 3rd, 2011
NASDAQ reported that Murphy Oil Corp. (NYSE:MUR) plans to end a deal to sell its final refinery in Milford Haven, Wales by the end of the first quarter.
NASDAQ reported that Murphy Oil Corp. (NYSE:MUR) plans to end a deal to sell its final refinery in Milford Haven, Wales by the end of the first quarter.
As quoted in the market news:
Murphy is still seeking a buyer for the 130,000 barrel-a-day refinery in Milford Haven, Wales, that it put up for sale in July 2010. Murphy and other oil and gas producers, including ConocoPhillips (COP) and Marathon Oil Corp. (MRO), have announced exits from the refining sector, where U.S. demand is weakening and margins are traditionally razor-thin.