(MENAFN) The local Member of Parliament said that Murphy Oil has agreed to sell its Milford Haven plant in south west Wales to oil entrepreneur Gary Klesch, Arab News reporte
"I am delighted with the breakthrough in negotiations over the sale of the Murco oil refinery in Milford Haven," MP for the area where the plant is located sai
The plant is currently not buying crude oil, but recycling oil products to keep it operationa
A source said earlier that any deal would likely value the plant at close to zero, but any sum paid for the plant would include oil inventories
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