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News Breaks
March 4, 2014
07:47 EDTBP, JECJacobs awarded contract by BP
Jacobs Engineering (JEC) announced that it was awarded a contract by BP (BP) for process and infrastructure work on the greenfield Khazzan project in the Sultanate of Oman. Under the terms of the contract, Jacobs is providing engineering, procurement and construction management services in relation to approximately $2B of gas gathering and water pipelines, wellhead production facilities and export pipelines for the development of the southern sector of Block 61. Jacobsí scope of work also includes the detailed design and program management for the associated project infrastructure. The work utilizes resources from multiple Jacobs offices located in the Middle East, U.K., India and the U.S., and Jacobs is also committed to supporting the In Country Value goals of the Sultanate of Oman to build local content by developing the local workforce and engaging local suppliers. The project is expected to mobilize immediately.
News For JEC;BP From The Last 14 Days
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November 24, 2015
07:34 EDTJECJacobs Engineering revenue, margins expected to improve in 2016, says UBS
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November 23, 2015
11:34 EDTJECJacobs Engineering sees Q1 as most challenging quarter of year
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11:24 EDTJECJacobs Engineering sees increases in pharma-bio capex, M&A activity
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10:17 EDTJECHigh option volume stocks
High option volume stocks: TRQ SIG XRT NXST NGD PSTG GME ONTY ADI JEC
07:47 EDTJECJacobs Engineering sees FY16 EPS $2.80-$3.30, consensus $3.33
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07:46 EDTJECJacobs Engineering reports Q4 adjusted EPS 80c, consensus 77c
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November 20, 2015
15:48 EDTJECJacobs Engineering to host analyst meeting
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November 19, 2015
07:46 EDTJECJacobs announces dedicated field services business unit for North America
Jacobs Engineering announced the consolidation and creation of a dedicated Field Services business unit in North America, with enhanced capability across multiple industries, including sustaining services operations and pure construction delivery. The new direct hire Field Services business unit integrates some 12,000 field services craft personnel from across U.S. and Canada, positioning Jacobs as one of the largest providers of field services in North America.
November 17, 2015
10:16 EDTBPBP confirms exploring sale of Alabama petrochemical facility
BP confirmed that it has decided to market for sale its Decatur, Alabama, petrochemicals complex as part of a broader reorganization of the company's global petrochemicals business. BP said its refocused petrochemicals strategy is pursuing a competitively advantaged portfolio through world-scale, low-cost facilities that utilize BP proprietary technology including the production of purified terephthalic acid, or PTA, a key raw material in the production of polyester. BP is spending $200M to upgrade its Cooper River, S.C., plant and its sister facility in Geel, Belgium - the largest PTA-producing sites in the Americas and Europe, respectively. The investment will enable the two facilities to lower operating costs, improve reliability and reduce emissions. Earlier this year, BP also started up its new Zhuhai 3 unit in Guangdong Province, China. Using BP's latest technology and capable of producing up to 1.25M tons of PTA per year, Zhuhai 3 is the world's largest single-train PTA production unit as well as being one of the largest and most efficient PTA production units in the world. While BP's Decatur complex no longer fits with this strategy, the facility has been a major contributor to BP's U.S. petrochemicals business for many years. It makes chemicals essential for the production of thousands of items, from plastic water bottles to flat-screen televisions. BP expects to complete a sale of all or part of the facility provided a buyer can be found and an acceptable deal can be reached. Reference Link
09:48 EDTBPBP to explore sale of Alabama petrochemical plant, Bloomberg reports
Bloomberg cites e-mailed statement from BP.
November 16, 2015
06:51 EDTBPBig energy firms saw 70% earnings dip for first nine months, WSJ says
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