KBR Signs Technology Collaboration Agreement with BP
January 21 2010 - 8:48AM
Business Wire
KBR (NYSE:KBR) announced today that it has signed a
Collaboration Agreement with BP to promote, market, and execute
licensing and engineering services for the slurry bed residue and
coal upgrading Veba Combi Cracker (VCC) Technology.
VCC Technology is a hydrogen addition technology suitable for
processing residuum into high-quality distillates or synthetic
crude oil in the refining, upstream field upgrading and
coal-to-liquids (CTL). KBR adds VCC to its robust resid technology
portfolio, which will now include a full complement of solvent
deasphalting, resid hydrocracking, delayed coking, resid
solidification and gasification. The technology will be available
for licensing globally.
“The addition of this technology to KBR’s portfolio provides the
company with a unique business advantage, as we are now the only
technology provider to offer all five options for hydrocarbon
upgrading to clients worldwide,” said William P. Utt, KBR Chairman,
President and CEO. “KBR anticipates the trend in refining and fuels
production shifting to hydrogen addition, especially in the face of
changing environmental regulations and the demand for carbon
emissions reductions. The addition of VCC to our portfolio puts KBR
in a position to meet client needs as these changes begin affecting
the global hydrocarbons market. We are proud to partner with BP to
market VCC technology to clients worldwide.”
“The option to convert unconventional feedstocks such as heavy
oil and coal will be key in meeting transport fuel demand for the
next 25 years,” said Iain Conn, CEO BP Refining & Marketing.
“VCC is a highly competitive process for maximising transport fuel
yield from heavy oil and coal. We are very pleased to be
collaborating with KBR on the use of VCC to maximize liquid fuel
yields whilst minimising environmental impacts of heavy and
unconventional feedstocks.”
KBR is a global engineering, construction and services company
supporting the energy, hydrocarbon, government services, minerals,
civil infrastructure, power and industrial markets. For more
information, visit www.kbr.com
BP is one of the world's largest oil and gas companies, serving
millions of customers every day in more than 90 countries, and
employing over 90,000 people. BP’s business segments are
Exploration & Production, and Refining & Marketing. In
alternative energies, BP has low- and no-carbon wind, solar,
biofuels, and power generation/carbon capture projects.
Through these activities, BP provides fuel for transportation;
energy for heat and light; services for motorists; and
petrochemicals products for plastics, textiles and food packaging.
It has strong positions in many of the world's hydrocarbons basins
and strong market positions in key economies. For more information,
visit www.bp.com.
KBR (NYSE:KBR)
Historical Stock Chart
From May 2024 to Jun 2024
KBR (NYSE:KBR)
Historical Stock Chart
From Jun 2023 to Jun 2024