Willbros Group (WG) Announces New Contract From Praxair (PX)
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Willbros Group, Inc. (NYSE: WG) announced that a unit of its Oil & Gas segment has been awarded a contract by Praxair, Inc. (NYSE: PX) to construct 52 miles of 12-inch pipeline. The hydrogen pipeline will originate at Praxair's plant in Geismar, Louisiana and will terminate at Valero's refinery in Norco, Louisiana. Construction on the project is underway and is scheduled to be completed in September.
Randy Harl, President and Chief Executive Officer, remarked, "We are very pleased to have the opportunity to work with Praxair to support their efforts to increase hydrogen supply to refineries and petrochemical plants in the lower Mississippi River corridor. We anticipate that refining capacity rationalization in the United States and the need to comply with more stringent environmental regulations will continue to create opportunities for both our upstream and downstream oil and gas services."
Randy Harl, President and Chief Executive Officer, remarked, "We are very pleased to have the opportunity to work with Praxair to support their efforts to increase hydrogen supply to refineries and petrochemical plants in the lower Mississippi River corridor. We anticipate that refining capacity rationalization in the United States and the need to comply with more stringent environmental regulations will continue to create opportunities for both our upstream and downstream oil and gas services."
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