CB&I gets $2.8 billion petrochemical contract in Oman

Posted on December 5, 2015

CB&I said its joint venture with Taiwan-based CTCI Corp. was awarded a $2.8 billion engineering and construction contract to build a massive petrochemical and plastics complex in Oman. The Woodlands-based CB&I will build the Liwa Plastics Industrial Complex Project for the Oman Oil Refineries and Petroleum Industries Company, called Orpic. CB&I was previously selected last year to perform …

OPEC to keep pumping crude, sheds symbolic output ceiling

By OGMarket Posted in Finance Headline News Production

Posted on December 5, 2015December 6, 2015

HOUSTON – U.S. crude fell below $40 a barrel on Friday as the Organization of Petroleum Exporting Countries said it wouldn’t give up a drop of oil to support prices, setting up another tough year for a petroleum industry that has already shed thousands of jobs and cut billions in oil projects. Without dramatic production …