Refinery Margins Decline In Europe – Murphy, Phillips 66 Pulling Out

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Hira Shahnawaz Akhtar
Published on
Updated on

Given the incessant decline in European refinery margins, many U.S. firms are seeking to sell off their European assets. Murphy Oil Corporation (NYSE:MUR) is one of those giants looking to offload its U.K. downstream assets. Its 130,000 bbl per day Milford Haven refinery in Wales may be reduced to a petroleum storage terminal after sell-off. In the northwest, Phillips 66 (NYSE:PSX) is planning to sell its 71,000 bbl per day refinery in Ireland. However, buyers are often unwilling to pay full price for these refineries as these are often turned into storage facilities and the refining operations are discontinued. Refinery Margins Disparity…

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Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.