(By Balachander) Murphy Oil Corp. (NYSE: MUR) has agreed with Wal-Mart Stores Inc. (NYSE: WMT) to build over 200 new fuel stations at existing Walmart supercenters.
With this agreement, Murphy Oil USA will provide access to over 200 new locations within its core market area covering the Midwest and Southeast United States.
Murphy Oil expects the construction program to be completed over the next three years.
"This agreement represents a significant step forward in our long-term relationship with Wal-Mart as we pursue our business plan to separate the U.S. retail business into a stand-alone entity," said Murphy Oil CEO Steven Cosse.
Murphy Oil USA operates the Murphy USA and Murphy Express retail gasoline stations.
On Wednesday, MUR shares traded 0.40 percent higher at $60.16, while WMT shares shed 0.10 percent to trade at $68.50.