A subsidiary of
Foster Wheeler AG
) Global Engineering and Construction Group recently received a
contract from Axion Energy Argentina S.A. The scope of the
contract requires the subsidiary to provide engineering and
procurement services for a new delayed coking unit at the Campana
Refinery in Buenos Aires Province, Argentina.
The services to be provided to the coking unit are based on
Foster Wheeler's SYDEC delayed coking technology. The financial
details of the deal were not disclosed, but the contract was
booked in the third quarter.
Delayed coking is a cyclic process that thermally cracks
vacuum residue or other residue feedstocks into gas, light
products and petroleum coke, and is a key technology for residue
upgrading or zero fuel oil production. In today's environment,
refiners recognize the need for delayed coking to keep pace with
the growing demand for transportation fuels, more stringent
legislation and the opportunity for significant improvement in
refinery profit margins.
Therefore, with the help of Foster Wheeler's SYDECSM
(Selective Yield Delayed Coking), refiners can process heavier,
cheaper crudes to increase refinery margins, and convert
low-value residues to high-value fuels with moderate capital
investment. Above all, this technology is safe, reliable and
well-proven, meeting all regulatory requirements.
Prior to this, the Foster Wheeler's subsidiary had executed
successful delayed coking projects in the Middle East and Latin
Foster Wheeler has a Zacks Rank #3 (Hold). Other companies in
the industry that look promising at the moment include
Jacobs Engineering Group Inc.
Quanta Services Inc
). VSE Corp has a Zacks Rank #1 (Strong Buy), while Jacobs
Engineering and Quanta Services both have a Zacks Rank #2
FOSTER WHELR AG (FWLT): Free Stock Analysis
JACOBS ENGIN GR (JEC): Free Stock Analysis
QUANTA SERVICES (PWR): Free Stock Analysis
VSE CORP (VSEC): Free Stock Analysis Report
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