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Non-Tech : Emerson (EMR)
EMR 63.97+0.1%11:29 AM EDT

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From: JakeStraw1/5/2011 9:15:39 AM
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Emerson To Provide Critical Technologies For New Oil Terminal In Southern Iraq

Metering Systems Will Help Ensure Accurate Accounting As Oil Is Loaded Onto Tanker Ships For Export

Wednesday January 5, 2011

AUSTIN, Texas--(BUSINESS WIRE)-- Iraq’s South Oil Company has awarded Emerson Process Management, an Emerson (NYSE:EMR) business, a contract to provide crude oil metering systems and related technologies for the new Al-Basra Oil Terminal now under construction in the Persian Gulf.

The new terminal, which includes both onshore and offshore facilities, will boost Iraq’s oil export capacity by 2.7 million barrels per day. The added capacity will give Iraq increased access to global markets as it expands production from its southern oil fields.
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