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Valero awarded $157M fuel contract for Israel

Valero awarded $157M fuel contract for Israel

Business
Oct. 16 (UPI) -- In a new deal struck between the Defense Logistics Agency and Valero Marketing and Supply Co., Pentagon officials announced Friday the allocation of $ 157 million to the Texas-based company in search of various types of fuel.The contract is designed to be a fixed-price in terms of base cost, but the deal does take into account economic-price-adjustments, so the totality of the contract can be adjusted upward or downward depending on external market factors.The contract acquisition was said to be competitive among the four defense contracting companies who submitted proposals to the Defense Department. The award is a one-year base contract with a one-year option period, plus a 30-day carryover. Work will occur in Texas, with a completion data of Sept. 30, 2017.The work comp...
All pieces of a new European gas pipeline delivered

All pieces of a new European gas pipeline delivered

Business
Oct. 16 (UPI) -- The last of the 55,000 pieces of pipe needed to build a transit network from a giant gas field offshore Azerbaijan to Europe has arrived, developers said.The Trans Adriatic pipeline consortium announced Monday that the final section of the pipeline arrived in Thessaloniki, Greece. That means all pieces have reached their final destination in each of the three host countries; Greece, Albania and Italy."This is yet another key milestone towards successful realization of the project," TAP Project Director John Haynes said in a statement. "The entire logistics delivery process was carried out in line with the project schedule and to the highest safety standards."The 545-mile natural gas pipeline will start delivering gas from the Shah Deniz gas project offshore Azerbaijan to E...
Vauxhall plans 400 job cuts at Ellesmere Port as sales fall

Vauxhall plans 400 job cuts at Ellesmere Port as sales fall

Business
Vauxhall is cutting about 400 jobs at its Ellesmere Port car plant due to falling sales.The carmaker, now owned by France's PSA Group - maker of Peugeot and Citroen - is "facing challenging European market conditions," a spokesman said.Ellesmere Port, which makes the Astra models, will move staff from two production shifts to one in early 2018.PSA said that manufacturing costs at Ellesmere were higher than other "benchmark plants" in the group.Vauxhall employs about 4,500 people in the UK, with about 1,800 at Ellesmere Port. The company also has a factory at Luton, which makes vans.PSA became Europe's second biggest carmaker after Volkswagen in August when it completed the purchase of Vauxhall and German brand Opel from US car giant General Motors.UK Prime Minister Theresa May personally s...
Deadline looms for you to spend old £1 coins

Deadline looms for you to spend old £1 coins

Business
They have been in circulation for the past 34 years and more than 1.6 billion of them have been minted, but from midnight they will cease to be legal tender.However, people should not panic if they miss the 15 October deadline as major banks and building societies and some big stores are giving them extra time to use them.The new 12-sided pound coin went into circulation in March and has new high-tech security features designed to thwart counterfeiters.Image:The new 12-sided pound coin went into circulation in MarchOf the big supermarkets, Sainsbury's has already made the switch to the new coins, both at the till and with its trolleys, while Tesco says it will accept the old coins, but for a further week only.As for small businesses, the advice to them is to be prudent and understanding.Al...
State Dept. proposes $343B C-17 support contract with Kuwait

State Dept. proposes $343B C-17 support contract with Kuwait

Business
Oct. 13 (UPI) -- The State Department announced Friday it has approved a possible foreign military sale to the government of Kuwait for continuation of the C-17 logistics support services and equipment.The contract, which requires approval from Congress before being finalized, is said to be worth an estimated $ 342.6 million and would meet a request from Kuwait for three years -- with an option for an additional two years of support -- for two Boeing C-17 Globemaster III military transportation aircraft. The contract would also include access into the Globemaster III Integrated Sustainment Program or GISP.The GISP is an all-encompassing program that would provide Kuwait with contractor support, upgraded modifications, personnel and equipment training and access to all technical orders and ...