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Stock Market & Financial Investment News

News Breaks
May 28, 2014
07:31 EDTFWLTFoster Wheeler unit awarded contract by Marubeni, value not disclosed
Foster Wheeler that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by Marubeni for the engineering and material supply of a new Terrace Wall steam reformer heater, including an air preheating system, for the KazMunayGaz oil refinery located at Atyrau, Republic of Kazakhstan. The value of Foster Wheeler’s contract was not disclosed and was included in the company’s Q1 bookings. The steam reformer will be part of a hydrogen production unit with a capacity of 24K normal cubic meters per hour to be built at the refinery. The hydrogen plant is based on Foster Wheeler’s hydrogen technology. Foster Wheeler’s scope of work is scheduled to be completed in April 2015.
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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