Aug 07 - Murphy Oil Announces Agreement To Purchase Remaining Interest In Milford Haven, Wales Refinery

Source Press Release
Company Murphy Oil Corporation 
Tags Refining & Marketing Activities
Date August 30, 2007

Murphy Oil Corporation announced today that its wholly owned subsidiary, Murco Petroleum Limited (Company), has agreed terms with TOTAL to purchase their 70% interest in the Milford Haven, Wales refinery for $250 million. Prior to the transaction, the Company owned an effective 30% interest in the 108,000 barrel per day refinery located in Pembrokeshire in Southwest Wales.

The transaction is expected to be completed in the fourth quarter of this year and includes the land, refinery complex, jetty, and pipeline connection to the Mainline Pipeline. Refined products will continue to be marketed through the Company’s existing network of both company and dealer operated gasoline stations in England and Wales.

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