Fluor wins $3.8 billion refinery upgrade contracts
Fluor Corp. says it has won several contracts valued at nearly $4 billion to modernize a BP America refinery in Indiana, the Associated Press reports. Although consumers are hurt by the rising price of oil, large contractors such as Fluor benefit when oil companies spend money to refine oil from new sources. The upgrade will allow the Whiting, Indiana refinery to process higher sulfur grade petroleum that for the most part is from shale in the western United States and oil sands of western Canada. Fluor, an engineering and construction contractor, began construction in July and says it expects to complete the project in the fourth quarter of 2011. It will book $3.8 billion in backlog in the third quarter of 2008. Fluor says the project employs about 400 workers, which should increase to 1,000 workers next year and reach about 2,500 in 2010.