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Stock Market & Financial Investment News

News Breaks
July 17, 2014
07:32 EDTFWLTFoster Wheeler-led JV awarded contract by Nafusah Oil Operations
Foster Wheeler announced that a subsidiary of its Global Engineering and Construction Group, in joint venture with Taknia Libya Engineering, has been awarded a front-end engineering design contract by Nafusah Oil Operations Libyan Branch for an onshore oilfield development, known as the Area 47 Development Project in Libya. Area 47 is located in the Hamada region, approximately 200 km south of Tripoli, in the Ghadames Basin. The Foster Wheeler contract value was not disclosed and will be included in the company’s 2Q14 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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