Kuwait refinery construction screeches to a halt
Kuwait National Petroleum Co. has ordered Fluor Corp. to stop construction of a refinery.
According to the Dallas Morning News , Irving, Texas-based Fluor Corp. took a $2.1 billion hit when Kuwait halted construction of a refinery.
Fluor officials said the Kuwait National Petroleum Co. (KNP) instructed them to stop work on the utilities and offsets for the al-Zour refinery; Fluor had about 300 employees working on the project. The termination is the second cancellation of a major oil project since December, coming amid government corruption allegations. In December, Kuwait backed out of a $17.4 billion joint venture petrochemical project with Dow Chemical Co.
Originally, KNP had planned to spend about $14 billion on the 615,000-barrel-per-day al-Zour refinery. It would have been the nation's fourth refinery, with start-up planned for 2012.
Annual Salary Survey
After almost a decade of uncertainty, the confidence of plant floor managers is soaring. Even with a number of challenges and while implementing new technologies, there is a renewed sense of optimism among plant managers about their business and their future.
The respondents to the 2014 Plant Engineering Salary Survey come from throughout the U.S. and serve a variety of industries, but they are uniform in their optimism about manufacturing. This year’s survey found 79% consider manufacturing a secure career. That’s up from 75% in 2013 and significantly higher than the 63% figure when Plant Engineering first started asking that question a decade ago.