KBR Awarded Contract by Zallaf for South Refinery Project in Libya
KBR announced it has been awarded a contract by Zallaf Exploration, Production and Refining of Oil and Gas Company to provide project management and technical services for the South Refinery Project in Ubari, Southwest Libya. Under the terms of the contract, KBR will provide contract management, project management and supporting technical services throughout the EPC phases of the project. This work is expected to be executed over a 50-month period. The South Refinery Project aligns with KBR's long-standing commitment to advancing vital oil and gas infrastructure in Libya. KBR has a proven track record of delivering successful projects in the country.
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KBR INC: KBR HAS OBTAINED A BOARD SEAT IN APPLIED COMPUTING AS PART OF ITS INVESTMENT.
- Investment Announcement: KBR has secured a position in applied computing, indicating a strategic move in the technology sector.
- Focus on Applied Computing: The investment highlights KBR's commitment to advancing its capabilities in applied computing solutions.
KBR Makes Strategic Investment in Applied Computing
- Strategic Investment: KBR's announcement of a strategic investment in UK-based Applied Computing represents a significant advancement in its AI-driven growth strategy, expected to enhance the company's progress in digital product development.
- Board Position: As part of the investment, KBR has secured a board position at Applied Computing, which will provide greater influence in company decisions, thereby accelerating the expansion of AI capabilities.
- Joint Development Agreement: KBR and Applied Computing have entered into a multi-year joint development agreement to co-create exclusive AI products for the energy sector, which is anticipated to enhance KBR's competitiveness in the energy technology market.
- Global Technology Portfolio Expansion: This investment will facilitate the expansion of KBR's AI capabilities across its global technology portfolio, further solidifying its leadership position in the rapidly evolving digital transformation market.
KBR and Applied Computing Forge Long-Term Partnership for AI Solutions in the Energy Industry
Joint Development Agreement: KBR and a partner have entered into a multi-year joint development agreement focused on AI products tailored for the energy sector.
Focus on Energy Sector: The collaboration aims to enhance technological solutions and innovations specifically designed to address challenges within the energy industry.
Blackstone Shares Drop 3.3% Amid Market Concerns
- Market Concerns Intensify: Investors sold shares of Blackstone this week due to worries over the private credit space, high oil prices, and the Iran war, resulting in a 3.3% drop in stock price and an RSI of 23, indicating an oversold condition that may present a rebound opportunity.
- Economic Growth Slowdown: The combination of inflation fears driven by high oil prices and expectations of slower economic growth weighed on market sentiment, dragging the Dow Jones Industrial Average down about 2% this week, while the S&P 500 and Nasdaq Composite fell over 1% each.
- Bank Rating Support: Despite market turbulence, Bank of America reiterated its buy rating on Blackstone, expecting a robust fundraising quarter of $66 billion, highlighting strong fundraising potential particularly in credit and private equity sectors.
- IPO Pipeline Outlook: Analyst Craig Siegenthaler noted that Blackstone's future IPO pipeline includes Copeland and Mobile.de, and while timing may be delayed, these projects are expected to act as accelerants for future monetization activities, further bolstering market confidence.
SHELL REACHES INITIAL AGREEMENTS FOR OPERATIONS IN VENEZUELA'S MONAGAS NORTH OIL AND GAS FIELDS, ACCORDING TO INDUSTRY SOURCES
Shell's New Ventures: Shell has reached preliminary agreements to work in oil and gas fields located in Venezuela's Monagas North region.
Industry Insights: The information regarding these deals has been sourced from industry insiders.
Chevron and Shell Nearing First Major Oil Production Agreements with Venezuela Since US Capture of President Maduro, Industry Sources Report
US and UK Oil Companies: Major oil companies Chevron (US) and Shell (UK) are closing in on significant oil production deals in Venezuela.
Impact of Political Changes: These developments follow the US capture of President Maduro, which has shifted the landscape for oil production in the region.
KBR INC: KBR HAS OBTAINED A BOARD SEAT IN APPLIED COMPUTING AS PART OF ITS INVESTMENT.
- Investment Announcement: KBR has secured a position in applied computing, indicating a strategic move in the technology sector.
- Focus on Applied Computing: The investment highlights KBR's commitment to advancing its capabilities in applied computing solutions.
KBR Makes Strategic Investment in Applied Computing
- Strategic Investment: KBR's announcement of a strategic investment in UK-based Applied Computing represents a significant advancement in its AI-driven growth strategy, expected to enhance the company's progress in digital product development.
- Board Position: As part of the investment, KBR has secured a board position at Applied Computing, which will provide greater influence in company decisions, thereby accelerating the expansion of AI capabilities.
- Joint Development Agreement: KBR and Applied Computing have entered into a multi-year joint development agreement to co-create exclusive AI products for the energy sector, which is anticipated to enhance KBR's competitiveness in the energy technology market.
- Global Technology Portfolio Expansion: This investment will facilitate the expansion of KBR's AI capabilities across its global technology portfolio, further solidifying its leadership position in the rapidly evolving digital transformation market.
KBR and Applied Computing Forge Long-Term Partnership for AI Solutions in the Energy Industry
Joint Development Agreement: KBR and a partner have entered into a multi-year joint development agreement focused on AI products tailored for the energy sector.
Focus on Energy Sector: The collaboration aims to enhance technological solutions and innovations specifically designed to address challenges within the energy industry.
Blackstone Shares Drop 3.3% Amid Market Concerns
- Market Concerns Intensify: Investors sold shares of Blackstone this week due to worries over the private credit space, high oil prices, and the Iran war, resulting in a 3.3% drop in stock price and an RSI of 23, indicating an oversold condition that may present a rebound opportunity.
- Economic Growth Slowdown: The combination of inflation fears driven by high oil prices and expectations of slower economic growth weighed on market sentiment, dragging the Dow Jones Industrial Average down about 2% this week, while the S&P 500 and Nasdaq Composite fell over 1% each.
- Bank Rating Support: Despite market turbulence, Bank of America reiterated its buy rating on Blackstone, expecting a robust fundraising quarter of $66 billion, highlighting strong fundraising potential particularly in credit and private equity sectors.
- IPO Pipeline Outlook: Analyst Craig Siegenthaler noted that Blackstone's future IPO pipeline includes Copeland and Mobile.de, and while timing may be delayed, these projects are expected to act as accelerants for future monetization activities, further bolstering market confidence.
SHELL REACHES INITIAL AGREEMENTS FOR OPERATIONS IN VENEZUELA'S MONAGAS NORTH OIL AND GAS FIELDS, ACCORDING TO INDUSTRY SOURCES
Shell's New Ventures: Shell has reached preliminary agreements to work in oil and gas fields located in Venezuela's Monagas North region.
Industry Insights: The information regarding these deals has been sourced from industry insiders.
Chevron and Shell Nearing First Major Oil Production Agreements with Venezuela Since US Capture of President Maduro, Industry Sources Report
US and UK Oil Companies: Major oil companies Chevron (US) and Shell (UK) are closing in on significant oil production deals in Venezuela.
Impact of Political Changes: These developments follow the US capture of President Maduro, which has shifted the landscape for oil production in the region.
