Source: Murphy Oil
Murphy Oil Corporation (NYSE:MUR) announced that its wholly owned subsidiary, Murphy Oil USA, Inc. has reached an agreement on a Consent Decree with the Environmental Protection Agency that will cover Murphy’s two U.S. refineries in Meraux, Louisiana and Superior, Wisconsin.
Tom McKinlay, Sr. Vice President, U.S. Manufacturing Murphy Oil USA, Inc. commented, “After several years of negotiation with the EPA and the states of Louisiana and Wisconsin, we are pleased to reach an agreement on a Consent Decree. The terms of the agreement are similar in nature to those of Consent Decrees that currently cover 90% of U.S. refining capacity.”
McKinlay added, “With additional financial commitments of up to $142 million spread over the next nine years, this underscores our efforts to improve operations and reduce emissions. We look forward to working with the EPA and the states as we implement these improvements.”
The company announced in July 2010 that Murphy Oil is planning to sell its three oil refineries (two in the US, one in the UK) and concentrated solely on upstream exploration and production.