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Stock Market & Financial Investment News

News Breaks
April 29, 2014
07:35 EDTFWLTFoster Wheeler awarded EPC contracts by Pemex
Foster Wheeler AG announced that subsidiaries of its Global Engineering and Construction Group, together with a joint venture partner for the project, Altair Strickland LLC, have been awarded contracts by Pemex Refinación for the engineering, design, procurement, construction, commissioning, and start-up of slide valve systems on the Foster Wheeler delayed coker units at two refineries in Mexico: the Hector R. Lara Sosa Refinery located in Cadereyta, Nueva Leon, and the Francisco I. Madero refinery in Ciudad Madero, Tamaulipas. Both projects are scheduled to be completed during refinery turnarounds in 2015. The Foster Wheeler contract values were not disclosed and were included in the company’s 4Q13 bookings.
News For FWLT From The Last 14 Days
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October 22, 2014
07:34 EDTFWLTFoster Wheeler unit awarded EPC contract for Exxon Mobil Antwerp refinery
Foster Wheeler (FWLT) announced that a subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement, and constructioncontract by ExxonMobil (XOM) Petroleum & Chemical BVBA for the Antwerp Northwest Europe Resid Upgrade Project, Revamp and Offsites facilities at the Esso Antwerp Refinery at Antwerp, Belgium. Foster Wheeler's contract value was not disclosed. A small initial release of work was included in the company’s Q1 bookings. The full release of work was included in the company's Q2 bookings. Foster Wheeler’s scope of work is expected to be completed in December 2016.
October 14, 2014
07:31 EDTFWLTFoster Wheeler awarded contract from PEMEX
Foster Wheeler announced that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by PEMEX REFINACIÓN for an ultra-low sulfur diesel project at the Salina Cruz refinery, Oaxaca, Mexico. Foster Wheeler’s scope of work, which also includes start-up and testing, is scheduled to be completed in 2018. The Foster Wheeler contract value was not disclosed. The initial release of work, relating to detailed design and the procurement of long-lead items, will be included in the company’s Q3 bookings. The balance of the agreed workscope is expected to be released in FY15. The investment in the Salina Cruz refinery, in excess of $500M, is part of a clean fuels program being implemented by PEMEX as a result of the country’s recent Energy Reform. The objective of the program is to significantly reduce the sulfur content of diesel produced from 500 to 15 parts per million.

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