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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.