Murphy Oil announces Milford Haven refinery sales agreement

31.07.2014  |  Globenewswire Europe

EL DORADO, Arkansas, July 31, 2014 - Murphy Oil Corp. (NYSE:MUR) announced that its wholly-owned subsidiary, Murco Petroleum Limited ("Murco"), has signed an agreement to sell its Milford Haven refinery and terminal assets to Klesch Refinery, Ltd.  Pending regulatory approval and subject to other material conditions, this transaction is scheduled to close no later than October 31, 2014.

A separate transaction for the sale of Murco's U.K. retail business is at an advanced stage, and the company will provide a further update on this in due
course.

Media Enquiries
      Bell Pottinger                  011 44 207 861 3800

      Gavin Davis                     gdavis@bell-pottinger.com
                                       011 44 7910 104 660

      Charles Stewart               cstewart@bell-pottinger.com
                                       011 44 7919 881 103

This press release contains forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995.  These statements, which express
management's current views concerning future events or results, including
Murphy's plans to divest its U.K. downstream operations, are subject to inherent
risks and uncertainties.  Factors that could cause one or more of these
forecasted events not to occur include, but are not limited to, a failure to
obtain necessary regulatory approvals, a deterioration in the business or
prospects of Murphy or its U.K. refining and marketing business, adverse
developments in Murphy or its U.K. refining and marketing business' markets,
adverse developments in the U.S. or global capital markets, credit markets or
economies in general, or a failure to execute a sale of the U.K. downstream
operations on acceptable terms or in the timeframe contemplated.  Factors that
could cause actual results to differ materially from those expressed or implied
in our forward-looking statements include, but are not limited to, the
volatility and level of crude oil and natural gas prices, the level and success
rate of our exploration programs, our ability to maintain production rates and
replace reserves, customer demand for our products, adverse foreign exchange
movements, political and regulatory instability, and uncontrollable natural
hazards.  For further discussion of risk factors, see Murphy's 2013 Annual
Report on Form 10-K on file with the U.S. Securities and Exchange Commission.
Murphy undertakes no duty to publicly update or revise any forward-looking
statements.




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Source: Murphy Oil Corp. via GlobeNewswire
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