(MENAFN) Puma Energy has bought the Milford Haven oil refinery in Wales and the other UK assets of Murphy Oil Corporation, with plans to turn the Welsh site into a storage terminal, Arab News reported.
Puma Energy said it would buy the Milford Haven facility and the wholesale energy sales business and three inland terminals owned by Murphy's UK subsidiary, Murco.
A deal to keep Milford Haven operating as an oil refinery collapsed in November, putting 450 jobs at risk. Puma said it would welcome all the terminal and distribution employees as part of the acquisition.
"The company will acquire the assets and convert the site into a state-of-the-art storage facility," Puma said. "It will make Milford Haven a key site securing the supply of energy to the UK and wider region."
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