The Klesch Group has agreed to acquire the Milford Haven refinery, located on the west coast of Wales, from MURCO Petroleum Limited (Murphy Oil).
The refinery, located on 938 acres at Milford Haven, Wales, is a modern cracking refinery with a competitive configuration and the ability to manufacture ultra-low sulphur transportation fuels and which has a nameplate capacity of 135,000 bpcd.
Commenting, A. Gary Klesch, founder and Chairman of The Klesch Group, said:
“We are delighted to announce the acquisition of the Milford Haven refinery which has come about as the result of positive engagement between all stakeholders. We look forward to using our considerable industry expertise to return the site to profitable growth. By taking a long term investment view we aim to secure the future of this refinery for its employees and the broader community.”
Completion of the Milford Haven refinery acquisition remains subject to a number of conditions and the Group continues to work closely with all stakeholders to ensure these conditions are satisfied.
About The Klesch Group
The Klesch Group is a global industrial commodities business, with three divisions specialising in the production and trading of chemicals, metals and oil. Founded in 1990 and headquartered in Geneva, it has revenue in excess of €5 billion, and employs more than 2,000 people across 30 locations in over 17 countries around the world.
About Murphy Oil
Murphy Oil Corporation is an international independent, nimble, persistent pursuer of crude oil, natural gas and natural gas liquids. But to ensure the endeavor remains fruitful and sustainable, the leadership team at Murphy Oil remains measured and strategic in our pursuit. For starters, our global exploration program adheres to a 10+ well target annually, with a focus in four key regions.
See the site of Milford Haven refinery