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Genoil's proprietary technology the Genoil Hydroconversion Upgrader (GHU), an advanced upgrading and desulphurization technology, which converts heavy or sour crude oil into much more valuable low sulpher oil, for a low cost. Genoil's innovation improves upon the existing data-verified Fixed Bed Reactor technology, which is widely used worlwide. Currently, 85% of all desulphurisation is taking place worldwide via hydroconversion. Genoil's technology, an investment into hydroconversion projects, can help further de sulphurise fuel in order to be compliant with global 2020 legislation. Furthermore, it significantly increases the desulphurisation, and denitrogenisation conversion rates, and increases operating efficiencies by 75%.   

Genoil's shares are listed on the OTCQB MARKET GNOLF.

 
 

Genoil appoints Vice President of Middle East to drive business development and growth

Marketwiredhttp://l.yimg.com/os/284/2013/04/02/Marketwired-Logo-RGB-JPG_124346.jpg" style="background-repeat:no-repeat; border:0px; display:inline-block; margin-right:5px; max-height:30px; opacity:1 !important; vertical-align:middle; visibility:visible !important; width:auto"> 
Genoil Inc.February 15, 2017 6:00 AM
 
 

CALGARY, ALBERTA--(Marketwired - Feb 15, 2017) - Genoil Inc. (GNOLF), the publicly traded clean technology engineering company for the petroleum industry, today announced the appointment of Raushan Telyashev as Vice President of Genoil Middle East.

 

Raushan Telyashev has a wealth of experience in the oil and gas industry prior to joining Genoil. Mr. Telyashev worked at Lukoil where he was deputy head of the department of construction, in charge of the execution of projects, and General Director of their design and research institute.

Mr Telyashev was also manager of the petrochemical group of Shell companies. Most recently he has been General Director of LLC "Energy and engineering". Mr. Telyashev is the published author of many scientific and technical articles and patents, as well as being a member of a number of committees and councils, including the Skolkovo scientific and technical council of the Russian Federation's governmental industry development fund. In 2016 he was honoured with the certificate of appreciation from the Deputy Head of the Energy Council of the Parliament of the Republic of Iraq.

He joins Genoil as the company expands and develops its operations in key strategic locations, including Russia and the Middle East. In April 2016, Genoil announced, in conjunction with consortium partner Beijing Petrochemical Engineering Co Ltd (BPEC), the receipt of a $5 billion Letter of Intent (LOI) for the funding of a 500,000-barrels per day (bpd) desulfurization and upgrading project located in the Middle East.

Genoil's proprietary technology is the Genoil Hydroconversion Upgrader (GHU), an advanced upgrading and desulphurization technology, which converts heavy or sour crude oil into much more valuable low Sulphur oil, for a low cost. Genoil's innovation improves upon the existing data-verified Fixed Bed Reactor technology, which is widely used worldwide. Currently, 85% of all desulphurisation is taking place worldwide via hydroconversion. Genoil's technology, an investment into hydroconversion projects, can help further desulphurise fuel in order to be compliant with global 2020 legislation. Furthermore, it significantly increases the desulphurisation, demetalisation and denitrogenisation conversion rates, and increases operating efficiencies by 75%.

Bruce Abbott, COO of Genoil, said: "The Middle East is naturally a critical market for Genoil, which is currently experiencing significant transformation on the back of volatile crude markets, and the demand for cleaner products within the fuel supply chain. Mr. Telyashev is hugely respected and has a wealth of experience, in conjunction with a detailed knowledge of our proprietary technology and the current market conditions. He is therefore perfectly placed to develop our business position in the region."

 

Mr. Telyashev will be based in the Middle East & Russia.

The appointment highlights the company's commitment to continued growth and development in expanding its business and developing partnerships with key stakeholders. In February 2017, Genoil announced the signing of a Memorandum of Understanding with one of the world's leading physical marine fuel suppliers, the Bomin Group, to collaborate on developing low sulphur fuel oil products for the shipping industry.

About Genoil Inc.:

Genoil is a publicly traded Canadian clean technology engineering company for the petroleum industries. Genoil is headquartered in Edmonton Alberta, with offices in Calgary, Sherwood Park, New York City, Constanta Romania, and Dubai & Abu Dhabi. Genoil's has developed its proprietary technology, the Hydroconversion Upgrader (GHU), which converts heavy crude oils and refinery bottoms into clean burning fuels for transportation industries including shipping. The GHU can be placed in remote locations, including receiving terminals, pipelines and ports. The company operates one of the largest and most advanced pilot & design test facilities in the world, from its 147-acre site in Alberta, Canada.

About The Genoil Hydroconversion Upgrader:

The Genoil Hydroconversion Upgrader (GHU®), is an advanced upgrading and desulfurization technology, which converts heavy or sour crude oil into much more valuable light low sulfur oil for a very low cost. The Genoil GHU was designed to be versatile, can be placed at many different locations, either upstream at oil fields, or downstream at refineries, in a standalone form at ports and other logistical locations.

The GHU achieves 96% pitch conversion and 95% desulfurization with an operating cost of up to 75% less than the competition. For Conoco Canada Ltd, Genoil converted their bitumen of 6-8.5 API and converted it to 24.5 API. We also removed 92% of the sulfur reducing the amount from 5.14 % to below 0.24%. These results were taken by Conoco Canada Ltd, who had them analyzed by Core Laboratories, one of the largest service providers of core and fluid analysis in the petroleum industry.

Contact:
Genoil Inc.
Georgey Routen
BLUE
01865 514214
georgina.routen@blue-comms.com

Genoil signs US$50 billion Letter of Intent to Develop and Construct Upgrading and Energy Projects in Russia and Chechnya

 

The project marks the second time Genoil will provide a complete solution, from oil field development through to production of 3.5m barrels per day of clean fuels

CALGARY, ALBERTA -- (Marketwired) -- 11/09/16 -- Genoil Inc. (OTCBB:GNOLF), the publicly traded clean technology engineering company for the petroleum industry, today announced the signing of a $50 billion Letter of Intent (LOI) to develop oil fields and construct clean technology upgraders, refineries and pipelines in Russia. The project will incorporate Genoil's efficient clean technology hydroconversion (GHU) process, and mark the second time that Genoil will provided a complete integrated project, from the development of oil fields to the production of cleaner fuels. The scope of the project is to produce 3.5 million barrels per day.

Genoil's hydroconversion process improves upon the existing data-verified Fixed Bed Hydroconversion technology, which is widely used worldwide. Currently, 85% of all desulphurisation is taking place worldwide via hydroconversion. Genoil's investment into hydroconversion projects can significantly increase the desulphurisation, demetalisation and denitrogenisation conversion rates, and increase operating efficiencies by 75%.

In addition to the development of the oilfields and construction of the technology, the parties involved will also explore linking this new project to existing pipeline networks in the region. The finance will be provided in full from Chinese banks to the Russian companies involved.

As agreed in the LOI, Genoil will be responsible for the design and construction of six million tonnes per year of new refinery capacity in Chechnya. To facilitate this, Genoil will organise a large consortium of Chinese engineering and services companies, with many years of operational experience, to provide all the necessary support and project guarantees. In addition to project guarantees, Genoil will arrange for a leading Chinese insurance company to insure the entire project.

The LOI has been signed by the President of the Board of Directors of Grozneft, a former official in the administrative department of the Russian Federation. The Russian Government and the Ministry of Fuel and Energy of the Russian Federation, as well as other required ministries and departments will give their full support to this project to ensure timely completion. The project will be listed in a trade agreement, pact or cooperation agreement between Russia and China.

Thomas F. Bugg, Vice President of Genoil Canada, commented: "The negotiation of this LOI marks an important milestone from Genoil, demonstrating that we can act as a service provider as well as a technology provider. Building on our previous Letter of Intent from a Chinese bank in April of this year, this latest agreement further supports our commitment to develop sustainable energy sources, helping to solve the supply challenges we face now and in the future."

As with the project in the Middle East defined in the $ 5 Billion LOI signed in April 7, 2016(1). Genoil will be the master contractor in charge and in control of the project. Fuel produced from the projects will be exported to China through secured long-term contracts of up to 30 years.

(1) http://www.marketwired.com/press-release/consortium-genoil-beijing-petrochemical-receives-us5-billion-dollar-bank-letter-intent-otcbb-gnolf-2115242.htm

About Genoil Inc.:

Genoil is a publicly traded Canadian clean technology engineering company for the petroleum industries. Genoil is headquartered in Edmonton Alberta, with offices in Calgary, Sherwood Park, New York City, and around the world. Genoil's has developed its proprietary technology, the Hydroconversion Upgrader (GHU), which converts heavy crude oils and refinery bottoms into clean burning fuels for transportation industries including shipping. The GHU can be placed in remote locations, including receiving terminals, pipelines and ports. The company operates one of the largest and most advanced pilot & design test facilities in the world, from its 147-acre site in Alberta, Canada. David Lifschultz, who is CEO of Genoil, was a partner of President Elect Donald Trump in Lifschultz Industries (http://genoil.ca/wp-content/uploads/2016/11/July-27-1992-Fortune.pdf)

About The Genoil Hydroconversion Upgrader:

The Genoil Hydroconversion Upgrader (GHU®), is an advanced upgrading and desulfurization technology, which converts heavy or sour crude oil into much more valuable light low sulfur oil for a very low cost. The Genoil GHU was designed to be versatile, can be placed at many different locations, either upstream at oil fields, or downstream at refineries, in a standalone form at ports and other logistical locations.

The GHU achieves 96% pitch conversion and 95% desulfurization with an operating cost of up to 75% less than the competition. For Conoco Canada Ltd, Genoil converted their bitumen of 6-8.5 API and converted it to 24.5 API. We also removed 92% of the sulfur reducing the amount from 5.14 % to below 0.24%. This test was entirely monitored by Conoco Canada Ltd, who also took all samples and had them analyzed by Core Laboratories, one of the largest service providers of core and fluid analysis in the petroleum industry.

Georgey Routen
BLUE
T: 01865 514214
E: georgina.routen@blue-comms.com
 

Source: Genoil Inc.

 

 

 


 

OTCBB : GNOLF


Genoil Inc. 
Beijing Petrochemical Engineering Co Ltd 



Beijing Petrochemical Engineering Co Ltd 

April 15, 2016 07:08 ET

Consortium of Genoil & Beijing Petrochemical Receives US$5 Billion Dollar Bank Letter of Intent for Upgrading Project.

 

 

BEIJING, CHINA--(Marketwired - April 15, 2016) - Genoil (OTCBB:GNOLF) & Beijing Petrochemical Engineering Co Ltd (BPEC), a division of Shaanxi Yanchang Petroleum Group Company, are pleased to announce that they have received a $ 5 billion dollar (USD) letter of intent for an initial 500,000 barrel per day (bpd) upgrading project, to be situated in the Middle East. The letter of intent from one of the largest banks in China is to cover the initial project cost, and will be presented to a major party in the Middle East. For this project, the goal of the consortium is to develop 3.5 million bpd of upgrading capacity at a total estimated cost of $ 35-50 billion. Financing will be subject to a number of conditions and approval of the contract terms by all parties.

China is actively seeking investment opportunities around the world and Genoil has demonstrated ability in establishing connections with major national oil companies and government ministries. The GHU represents an opportunity for China to invest in environmentally friendly global energy projects, developing clean sources of low sulfur fuels for the global market. Another project for 1 million bpd is currently under consideration by a second national oil company. Additional funding for future projects will be considered on a project by project basis.

2015 Year End Audited Financials

Genoil has completed it's 2015 audited financial statement which is now available on EDGAR & SEDAR.

About the Genoil GHU Technology:

Genoil's field upgrader (GHU) is an environmentally friendly technology which reduces the carbon content of a barrel of crude oil while removing sulfur and nitrogen that cause greenhouse gases. The GHU economically (up to 75% less OPEX & CAPEX than existing processes) converts heavy crude oil, bitumen, atmospheric residues, and vacuum residues into a lighter crude so that it can be transportable by pipeline without the aid of diluent making it compatible for refineries. The GHU increases the yield of light products and decreases the residual portion of a heavy crude stream, producing a much more desirable refinery feedstock.

About BPEC:

BPEC was founded in 1979 and is a first class engineering company based in Beijing and its parent company is Shaanxi Yanchang Petroleum Group Corp Ltd.. BPEC currently has about 1200 employees and holds a class A qualification of engineering consulting and engineering design. The company has been mainly engaged in engineering consulting, engineering design, EPC, engineering technology development and other related business in the fields of refining, petrochemical, coal-chemical, natural-gas-chemical, oil and gas fields, storage and transportation, etc.

About Shaanxi Yanchang Petroleum Group Corp. Ltd.:

Formerly "Yanchang Oil Plant" founded by the Qing regime in Yan'an in 1905, Yanchang Petroleum is China's only century-old oil enterprise and the driller of the first oil well on the Chinese continent. Shaanxi Province where Yanchang Petroleum is located is an emerging key oil & gas province in China, with rapid growth of 5 million tons oil & gas equivalent on average every year since the beginning of the "twelfth five-year" period. In 2012, Shaanxi province became China's largest oil & gas-producing province with oil & gas equivalent of over 60 million tons. They are also one of the largest producers of coal in China with 18 billion tons of coal reserves, and 300,000 bpd of oil production.

Forward-Looking Statements:

Statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand, and the company's ability to obtain new contracts and accurately estimate net revenues due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. Further information on potential risk factors that could affect the company's financial results can be found in the company's Reports filed with the Securities and Exchange Commission.

 

 

 

CONTACT INFORMATION

 

Genoil Inc.
Investor Relations
Suite 218, 1811 - 4th Street S.W.
Calgary, Alberta T2S 1W2 Canada
(587) 400-0249 / (914) 433-0304
www.Genoil.ca
 


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GNOLF News: Report of Foreign Issuer (6-k) 11/14/2017 05:19:37 PM
GNOLF News: Report of Foreign Issuer (6-k) 08/15/2017 07:57:22 AM
PostSubject
#631   And back up up up and away. 0cash 12/06/17 04:31:30 PM
#630   Down she goes again and with all this Adrock 12/06/17 02:03:35 PM
#629   My concerns here are the time frame & Chaka 12/06/17 12:20:22 PM
#628   Sure is. Hope so too... GLTA!!! rrojarom 12/06/17 11:45:24 AM
#627   Company sure is throwing some big numbers around. MC2 Atlantis 12/06/17 11:44:28 AM
#626   Agreed. rrojarom 12/06/17 11:30:57 AM
#625   I think yesterday's PR must have caught many Chaka 12/06/17 11:30:32 AM
#624   If you do find anything new be sure 0cash 12/06/17 09:01:48 AM
#623   I don’t know enough about this company to rrojarom 12/06/17 07:42:22 AM
#622   You know what they say when it sounds Adrock 12/06/17 07:37:59 AM
#621   Still digging... lot of big numbers in that rrojarom 12/06/17 07:35:37 AM
#620   I just sold off several other holdings. To 0cash 12/06/17 05:34:36 AM
#619   Your thoughts on this news? Chaka 12/06/17 05:02:10 AM
#618   I'm just glad I don't live in canada. Smokenjoe1 12/05/17 01:30:37 PM
#617   Genoil Signs Agreement to Develop Five Oil and rrojarom 12/05/17 10:39:17 AM
#616   And Genoil is on the Vung Ro website Smokenjoe1 12/01/17 03:52:34 PM
#615   hmmm you where saying 0cash 11/30/17 04:09:57 PM
#614   Save your hard earned $$$ or you will Adrock 11/30/17 01:46:53 PM
#613   Yes it is. But good for me. Will 0cash 11/30/17 01:24:23 PM
#612   Interesting that the stock continues to bleed! Adrock 11/30/17 11:29:34 AM
#611   Scroll to the bottom of the page to usprinvestor 11/30/17 11:24:01 AM
#610   That's a four billion dollar refinery project 0cash 11/29/17 07:42:12 PM
#609   Nice post 0cash 11/29/17 07:35:45 PM
#608   Another interesting find. A signed agreement. Smokenjoe1 11/29/17 07:08:50 PM
#607   Tax selling will bring this even lower....not good Adrock 11/27/17 01:22:18 PM
#606   I’m always looking for facts not personal 0cash 11/27/17 11:28:40 AM
#605   I warned you about this long ago! Adrock 11/27/17 06:41:16 AM
#604   I hope I'm wrong things are not adding 0cash 11/27/17 05:32:18 AM
#603   Interesting Read! Doesn't mention Genoil and has Smokenjoe1 11/26/17 01:32:53 PM
#602   New lows Adrock 11/17/17 10:27:43 AM
#601   Another down day! Adrock 11/15/17 05:32:22 PM
#600   Another interview! Smokenjoe1 11/09/17 05:39:37 PM
#599   New 52 weeks lows coming get out while Adrock 11/09/17 07:34:35 AM
#598   Wow is this getting ugly fast! Adrock 11/08/17 01:34:23 PM
#597   Nice to see you back. Do you just 0cash 11/06/17 06:58:17 PM
#596   This is clearly a scam that will eventually Adrock 11/02/17 10:28:54 PM
#595   Looks like genoil will be on New To Smokenjoe1 10/03/17 02:42:52 PM
#594   Genoil & China National Complete Plant Import & scp222 10/01/17 09:22:29 AM
#593   MARIO ALBERTO CARREÓN RASCÓN scp222 10/01/17 09:20:33 AM
#592   Jose Garcia-Torres Vice President of Genoil in Mexico scp222 10/01/17 09:19:44 AM
#591   Genoil & Anton Oil Field Services Sign Strategic scp222 10/01/17 09:18:55 AM
#590   Just looked up HKG3337 there trading .77 0cash 10/01/17 05:06:05 AM
#589   http://genoil.ca/genoil-anton-oil-field-services-ink-deal/ Seems like a good th Smokenjoe1 09/30/17 08:58:37 PM
#588   https://upticknewswire.com/featured-interview-ceo-david-lifschultz-of-genoil-inc Smokenjoe1 09/25/17 11:55:51 AM
#587   Nice post it looks like there positioning themselves 0cash 09/12/17 04:51:39 PM
#586   https://globenewswire.com/news-release/2017/09/12/1118260/0/en/Genoil-Appoints-N Smokenjoe1 09/12/17 12:31:28 PM
#585   http://www.hellenicshippingnews.com/what-do-we-need-to-do-to-meet-tomorrows-mari 0cash 09/08/17 04:43:13 PM
#584   Genoil used to do their testing of oil scp222 09/07/17 10:23:39 AM
#583   This sounds very good!! But i thought we 0cash 09/07/17 07:07:17 AM
#582   Genoil Signs Tri-Partite Scientific, Research and Technical Cooperation scp222 09/06/17 10:48:56 AM
PostSubject