Log in to your IBTimes Account

close
ID
Password
  • Set your IBTimes.com Edition

Siemens wins $120 million Petrobras order



By AP
17 July 2008 @ 06:54 am ET

FRANKFURT, Germany - Siemens AG said Thursday it won a $120 million order from Brazilian oil and gas company Petrobras to supply 10 compressors for oil refineries.

Related Topic

Get stories by e-mail on this topic.

E-mail:
Quotes
SI 92.34 2.29

The Munich-based industrial conglomerate said the large compressors will be installed in desulfurization units at eight refineries in Brazil. They will be delivered starting late next year.

A Siemens statement said the order is part of a Petrobras investment program intended to make more cleaner, low-sulfur fuels available at Brazilian gas stations.

Brazil has proven oil reserves of 11.8 billion barrels, the second-largest in Latin America, according to the U.S. Energy Department. Brazil also is the world's largest renewable energy market because of its long-established hydropower and bioethanol industries, the United Nations recently reported.

___

On the Net:

Copyright 2009 The Associated Press. All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

    Click!
  • Rate this article:

Comments

Post Your Comment

*Name


advertisement
More Industries
Warren Buffett's Berkshire Hathaway Inc said it plans to limit the amount of business underwritten by its reinsurance operations, as it prepares to spend...
California was awarded $19.5 million in a settlement against Royal Dutch Shell Plc's U.S. unit for not storing fuel properly at filling stations in the s...
Citigroup Inc said on Friday that new accounting rules for securitization trusts may prevent the bank from funding some of its assets with a top debt rat...

advertisement
Advertisement
POS Magnetic Card Readers

Online distributor for point of sale equipment, TYSSO and Pegasus.

 
IBTimes.com Web
Partners
International Business Times© 2009 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives