Chicago Bridge Iron Company N.V. or CB&I (CBI) was awarded a project valued in excess of US$1.4 billion by Refinería de Cartagena S.A. or REFICAR for the engineering, procurement services and construction of a new refinery, with processing capacity of 165,000 barrels per day, adjacent to REFICAR's refinery in Cartagena, Colombia.
CB&I's scope also includes revamping the existing 80,000 barrel per day refinery. The overall project will relieve regional refining constraints and will enable REFICAR to produce clean, ultra-low sulfur gasoline and diesel from heavy crude, the company stated. CB&I said it will provide project management and the engineering, procurement services, fabrication and construction for the new refinery. The project is scheduled for completion in 2012.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.