The U.S. Export-Import Bank has completed agreements supporting Stone & Webster's sale of $60 million in equipment and services for a Russian refinery modernization.
The Houston company said exports could potentially involve more than 30 U.S. suppliers in nine states, mostly in Texas and Oklahoma.
Stone & Webster will export refinery equipment and services to Yaroslavnefteorgsintez, a project about 200 miles northeast of Moscow.
The Ex-Im Bank transaction is the fourth accord to become active under its oil and gas framework agreement (OGFA) with Russia, boosting to $470.1 million the total value of OGFA transactions in which financing is provided. The three earlier OGFA transactions involved oil field rehabilitation.
Last September, Ex-Im Bank began allocating support for a $75.6 million sale of equipment and services by Bateman Engineering Inc., Lakewood, Colo., for a gas compressor station in Tomskneft oil field.
Later, distribution began for the $293.4 million export of equipment and services through Ramoil Management Co. of Boca Raton, Fla., and a $41.1 million export by International Tool & Supply Co. Inc., Houston.
Ex-Im is an independent U.S. government agency that helps finance and promote the sale of American goods and services around the world.
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