Foster Wheeler AG
) has a strong presence in the Russian oil & gas market,
where it has executed several key contracts across various
platforms. After key contracts win last month from Russia-based
OJSC Khabarovsk Oil Processing Refinery, Foster's Global
Engineering and Construction Group (E&C) announced a contract
win from LLC KINEF on Oct 2.
LLC KINEF is a subsidiary of the oil company Surgutneftegaz,
which has the largest refineries in Russia.
The contract requires Foster Wheeler to provide engineering
and material supply of nine fired heaters for the new High Octane
Gasoline Compounds Production Complex. The financial details of
the contract were not disclosed, but it will be included in
Foster's third quarter bookings.
This new High Octane Gasoline Compounds Production Complex is
being built on the Surgutneftegaz refinery in Kirishi,
Leningradsky Region, Russia. This refinery has a daily crude oil
processing capacity of 230,000 barrels. Foster expects to
complete the supply of nine fired heaters by the first quarter of
Foster's Global E&C Group designs and supplies
direct-fired furnaces used in a wide range of refining,
petrochemical, chemical, oil and gas processes, including fired
heaters and waste heat recovery units. In addition, the Global
E&C Group also designs and supplies fired heaters which form
an integral part of our proprietary delayed coking and hydrogen
Foster Wheeler is an engineering and construction company and
power equipment supplier, delivering technically advanced,
reliable facilities and equipment, globally. Foster Wheeler
currently has a Zacks Rank #2 (Buy).
Some other stocks in the industry worth buying at the moment
Pernix Group Inc
Michael Baker Corp.
). Micheal Baker has a Zacks Rank #1 (Strong Buy), while Pernix
and VSE have a Zacks Rank #2 (Buy).
BAKER (MICHAEL) (BKR): Free Stock Analysis
FOSTER WHELR AG (FWLT): Free Stock Analysis
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