KBR Bags Contract From Taiwan's State-Owned Oil Company CPC

KBR, Inc. KBR has secured a contract for its ROSE supercritical Solvent De-Asphalting technology and Vacuum Distillation Unit from Taiwan's state-owned oil company, CPC Corporation. Financial terms were not disclosed.
KBR will provide a license, basic engineering, and proprietary equipment to CPC for its proprietary ROSE technology and will supply the engineering package for the upstream Vacuum Distillation Unit.
ROSE technology is a cost-effective residue upgrading process that allows refiners to produce higher grade, cleaner products while reducing the facility's carbon footprint.
Price Action: KBR shares are trading lower by 0.54% at $52.78 on the last check Wednesday.