THE WOODLANDS, Texas,
Jan. 18, 2018 /PRNewswire/
-- CB&I (NYSE:CBI) today announced it has entered into a
Joint Development Agreement with Saudi Aramco that includes Chevron
Lummus Global (CLG), CB&I's joint venture with Chevron
U.S.A. Inc., for the development,
commercialization and marketing of innovative crude-to-chemical
technologies.
Together, Saudi Aramco, CB&I and CLG will develop a unique
integration of advanced technology processes for the production of
high-value petrochemicals from crude oil. Specifically, CB&I's
ethylene cracker technology and CLG's hydroprocessing technologies
combined with Saudi Aramco's proprietary Thermal Crude to Chemicals
(TC2C™) technology will provide the platform for this joint
development.
"It is an honor to partner with Saudi Aramco to develop the most
competitive processing solution for crude to chemicals," said
Daniel M. McCarthy, CB&I's
Executive Vice President of Technology. "There is a lot of
attention in the market to more efficiently produce higher value
petrochemical products such as ethylene, propylene, butadiene and
aromatics directly from crude oil. CB&I and CLG's breadth of
technologies and catalysts are unmatched in the industry spanning
essentially all relevant refinery and petrochemical processes,
which provide a strong foundation for this joint development."
About CB&I
CB&I (NYSE:CBI) is a leading provider of technology and
infrastructure for the energy industry. With more than 125 years of
experience, CB&I provides reliable solutions to our customers
around the world while maintaining a relentless focus on safety and
an uncompromising standard of quality. For more information, visit
www.CBI.com.
Important Information For Investors And Shareholders
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements regarding
CB&I and represents our expectations and beliefs concerning
future events. These forward-looking statements are intended to be
covered by the safe harbor for forward-looking statements provided
by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks and
uncertainties. When considering any statements that are predictive
in nature, depend upon or refer to future events or conditions, or
use or contain words, terms, phrases or expressions such as
"achieve," "forecast," "plan," "propose," "strategy," "envision,"
"hope," "will," "continue," "potential," "expect," "believe,"
"anticipate," "project," "estimate," "predict," "intend," "should,"
"could," "may," "might" or similar forward-looking statements, we
refer you to the cautionary statements concerning risk factors and
"Forward-Looking Statements" described under "Risk Factors" in Item
1A of our Annual Report filed on Form 10-K filed with the SEC for
the year ended December 31, 2016, and
any updates to those risk factors or "Forward-Looking Statements"
included in our subsequent Quarterly Reports on Form 10-Q filed
with the SEC, which cautionary statements are incorporated herein
by reference.
Investors: Scott Lamb, +1 832
513 1068, Scott.Lamb@CBI.com
Media: Gentry Brann,
+1 832 513 1031, Gentry.Brann@CBI.com
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SOURCE CB&I