Murphy Oil has sold a refinery for $214 million, including inventory, Reuters reports. Calumet Specialty Products Partners is buying the oil refinery based in Superior in Wisconsin. The inventory was worth $260 million as on June 30.
Murphy is also seeking to offload the Meraux plant and Wales plant in order to exit refining and concentrate on exploration and production. The total net proceeds for all three plants may reach $1 billion.
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