Romania's Vulcan signs USD 10 mln contract with Kuwaiti oil company

Romanian heavy machinery producer Vulcan has signed a USD 10 million contract for the delivery of 270 pumping units to the Kuwait Oil Company. This is the largest contract of its kind for the Romanian company, which is more than 110-year old. The pumping units will be delivered to the oil and gas company of Kuwait, founded in 1934. The oil company has a turnover of over USD 20 billion and a net profit of over USD 4 billion. Kuwait’s Oil Company has a daily production of over 1 million barrels of oil and 1 billion cubic meters of gas (Romania’s consumption in a month), according to a press release of Euro Insol, Vulcan’s judicial administrator. The contract signed by Vulcan has a value of USD 10 million. The pumping units need to be delivered by the end of this year. editor@romania-insider.com