- CB&I (CBI +0.6%) says it has been awarded a contract to build storage as part of a $1.5B petrochemical project owned by Occidental Petroleum (NYSE:OXY).
- CBI says it will build the project’s ethylene storage facility near Houston, and has a new $115M contract to engineer and build the surface facilities and piping at the salt cavern storage location.
- OXY announced the overall project in 2013 with a projected 2017 opening to take advantage of cheap shale gas feedstock.
CB&I jumps into $1.5B Occidental petrochem project
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| Symbol | Last Price | % Chg |
|---|---|---|
| OXY | - | - |
| Occidental Petroleum Corporation | ||