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Stock Market & Financial Investment News

News Breaks
March 26, 2013
07:31 EDTFWLT, VLOFoster Wheeler signs service agreement with Valero Energy
Foster Wheeler AG (FWLT) announced that a subsidiary of its Global Engineering and Construction Group has signed an evergreen agreement with Valero Energy (VLO) for the provision of home office engineering and project support services to Valero's Pembroke Refinery and other facilities in the UK. The terms of the agreement were not disclosed and bookings will be recorded as work is released by Valero. Foster Wheeler will provide home office front-end engineering design and detailed engineering design services t
News For FWLT;VLO From The Last 14 Days
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April 14, 2014
07:32 EDTFWLTFoster Wheeler awarded contract for incinerator in Vietnam
Foster Wheeler announced that a subsidiary of its Global Engineering and Construction Group has been awarded a contract for the design and supply of a carbon monoxide incinerator package for a residue fluidized catalytic cracker. The contract was awarded by JGC, which is acting on behalf of the engineering, procurement and construction consortium for the $9B Nghi Son Refinery and Petrochemical complex to be constructed in the Nghi Son Economic Zone, Thanh Hoa Province, Socialist Republic of Vietnam. The Foster Wheeler contract value was not disclosed and will be included in the company’s 1Q14 bookings. Foster Wheeler will design the incinerator in accordance with the CO emissions requirements of the new complex. The CO incinerator is expected to be shipped free on board as one single module during 2Q15.
April 8, 2014
07:52 EDTVLORefiners 2014 EPS estimates raised at Wells Fargo
Wells Fargo significantly raised its 2014 EPS estimates for Alon USA (ALJ), PBF Energy (PBF), Valero (VLO), and Western Refining (WNR) . The firm thinks that the sector is benefiting from better crack spreads and refining utilization so far in Q2, while U.S. exports of refined products jumped 21% year-over-year last quarter. Wells keeps Outperform ratings on PBF and Valero, and Market Perform ratings on Alon USA and Western Refining.
April 7, 2014
07:31 EDTFWLTFoster Wheeler, Eni SpA renew frame agreement
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07:31 EDTFWLTFoster Wheeler receives contract for two pulverized coal steam generators
Foster Wheeler AG announced that a subsidiary of its Global Power Group has been awarded a contract by Marubeni Corporation for the design and supply of two pulverized coal arch fired steam generators to be installed at the Thai Binh Thermal Power Station for Vietnam Electricity. The project is located in Thai Binh Province in Vietnam. Foster Wheeler has received a full notice to proceed on this contract. The terms of the agreement were not disclosed, and the contract value will be included in the company’s bookings for the first-quarter of 2014. Commercial operation of unit 1 is scheduled for October 2017 and unit 2 is scheduled for April 2018. Foster Wheeler will design and supply two 300 MWe steam generators and auxiliary equipment for the boiler islands. The boilers will be designed to burn local Vietnamese anthracite coal while meeting applicable environmental requirements.

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