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GenOil As Next Apple
There are 500 million shares of Genoil, and 100 million in options and warrants, 250,000,000 shares in the convertible. Therefore, we total 850,000,000 shares fully diluted. Now, if we sign the contract for Aramco for 3.5 million barrels a day at a minimum royalty of $3.00 per barrel, then the revenue per day is 10.5 million a day times 365 or 3.83 billion dollars net, net profit. The tax at Curacao is 3.2% if you look at the page 13 of the Notice of Annual And Special Meeting of the shareholders of Genoil dated 10-13-2006 as long as 90% of the company's operation is outside of Curacao. That would leave the profit to shareholders of 3.701 billion dollars. If we give the value then of the company at ten times profit of 37.01 billion dollars, and if we divide that by 850,000,000 shares, our value per share will be $43.54 per share. This is at an estimated WTI of $50.00 a barrel or less. If the WTI was a $100.00 a barrel, then the estimated royalty would be $6.00 a barrel based on 15% of the spread. The formula is a $3.00 minimum or 15% of the spread, whichever is higher. The stock is selling at 4 cents a share on the OTCQB..
The Scope Of Genoil Opportunity
Kleiner Perkins requires companies who wish to be sponsored as Google to state first of all in their presentation the scope of market. Genoil as an oil field service company converts heavy, highly sulphured oil into light oil with hardly any sulphur from total world deposits of 900 billion barrels of heavy oil at a average profit $40.00 a barrel at one hundred dollars a barrel WTI or 36 trillion dollars of created value and at $50.00 a barrel WTI $20.00 a barrel or 18 trillion dollars of created, potential value. Genoil's minimum royalty is $3.00 a barrel or 2.7 trillion dollar minimum but 15% of spread if it is higher and so at $40.00 incremental value (spread) that is created the royalty would be six dollars a barrel or 5.4 trillion dollars. That is the scople
Genoil As A Oil Service Company
Genoil offers as a general contractor a full service encompassing field development, drilling of wells, building of upgraders, building of pipelines and pumping stations, and if necessary constructing a full port to handle the exportation of the oil. It brings all the money to the oil company through a bank loan and will arrange that the bank will be repaid through the purchase of the oil which it will set up in full payment over a thirty year period. It does not expect an oil field concession as EXXON and unlike Schlumberger it brings the money for the project and will arrange the purchase of all the produced oil over a thirty year period for 3.5 million barrels a day for the project as indicated in press release two for Aramco with the funding from the Chinese Development Bank as indicated in the Management Discussion of the second quarter evidenced by the letter of intent. This is only one project we are in talks in.
Genoil Upgrading Process Guarantee
The third press release below reflects a guarantee from a Chinese company, the Beijing Petrochemical Engineering Group, which is a subsidiary of the Shaanxi Yanchang Petroleum Company with 43 billion dollars of assets.
Genoil As A Public Company
A Fifty Billion Dollars of Letters of Intent
See press releases below. The fifty billion LOI in Russia received massive coverage in Russia, see first press release below. It received extensive news coverage in Russia.
Genoil trades under the Symbol GNOLF on the OTCQB. David K. Lifschultz is available at 914-433-0304.
http://www.stockhouse.com/news/press-releases/2016/11/09/genoil-signs-us-50-billion-letter-of-intent-to-develop-and-construct-upgrading
http://www.stockhouse.com/news/press-releases/2016/04/15/consortium-of-genoil-beijing-petrochemical-receives-us-5-billion-dollar-bank
http://www.stockhouse.com/news/press-releases/2016/01/11/genoil-and-beijing-petrochemical-engineering-company-a-subsidiary-of-shaanxi
An Evaluation Of The Genoil Technology
An examination of the public data that has been released indicates that a letter of intent for 5 billion dollars was issued to Aramco by the China Development Bank, a 2.1 trillion dollar asseted bank, on the first tranche of a fifty billion dollar project for 3.5 million barrels a day.
If we want to gain some perspective of this, EXXON does not produce out of the ground 3.5 million barrels of oil. Also, Aramco is the largest corporation in the world. The LOI refers to a consortium including Beijing Petrochemical Engineering Co. Ltd. (BPEC) of Beijing, China and Genoil, Inc. of One Rockefeller Center, 11th Floor,, New York, New York 10020. BPEC guarantees the Genoil process with a performance guarantee. BPEC is a division of the fourth largest oil and coal and engineering group in China which is the 43 billion dollar asseted Shaanxi Yanchang Petroleum Group. These public disclosures are found in the first quarter management discussion of Geoil in 2017 and in two press releases that can be found under Yahoo Finance. All of us know that China looks for the best technologies and this is evidence that Genoil is the best and there could not be better testimony than this.
The 2020 IMO regulations to reduce sulfur have been met by the industry with procrastination. See Quartz article below:
https://qz.com/1064658/the-shipping-industry-one-of-the-worlds-biggest-polluters-is-being-forced-to-clean-up-its-dirty-fuel/
The failure of the shipping industry to address the new sulphur regulations partly has to do wtih the over 50% fall in the oil price since 2014 and the excess capacity in the industry whiich has driven down rates and made them reluctant to spend money. Nevertheless, as Genoil has announced there are a number of far sighted shipping lines and commodity traders in talks with Genoil.
What will wake them up the entire industry? Let's pursue a thought experiment. First, the price of fuel oil is now about $311.67 per ton at Rotterdam and the price of gasoil is $518.75 per ton. There are various estimates of the size of the bunker fuel market but below we have 460 million tons a year which times seven (barrels to a ton) comes to 3.220 billion barrels per year. If you divide that by 365, you come to about 9 million barrels a day. If the Gasoil market is hit with that kind of demand, we could expect the price to go up three fold but let's just say double to around a thousand dollars a ton just as part of this experiment. The fuel or or bunker fuel should collapse 80% if the demand disappears which leaves by rounding a $60.00 charge for the fuel oil. The Genoil charge is $30.00 a ton to desulphur it. That means that the Genoil low sulphur product would be ten percent of the competitive low sulphur gasoil.
Now, let's say one of the giant commodity traders as Trafigura saw this. When they quote a commodity there are two components. There is the commodity part which could be copper and there is the transportation part. Now, half the operating costs of the shipping lines is fuel. If Trafigura took advantage of the fuel cost of Genoil which would be 90% lower, they could conceivably win every quote.
Now, is this not how John D. Rockefeller did it? He was financed by the Parisian Rothschilds, and the London Rothschilds had their lackey J. P. Morgan's US railroad board of directors give Rockefeller lower transportation rates. That is how he gained control of the entire word oil industry. (Actually, the London Rothschilds had created Royal Dutch Shell, so that completed their control.)
Here, though, the advantage is in the Genoil advanced technology and not in railroad drawbacks to John D. Rockefeller's Standard Oil for his oil and his competitors.
Addendum one covers the fifty billion dollar contract proposal to Aramco. Addendum Two Covers Oil demand. Addendum Three covers the North Korean crisis.
Addendum I:
Genoil has received a five billion dollar LOI for Aramco for a fifty billion dollar contract covering the development of 3.5 million barrels a day of oil.
http://www.stockhouse.com/news/press-releases/2016/04/15/consortium-of-genoil-beijing-petrochemical-receives-us-5-billion-dollar-bank
In our first quarter management discussion we identified the lender as the China Development Bank and the borrower as Aramco, the largest oil company in the world.
China Development Bank
Saudi Aramco
The Saudi project is for 3.5 million barrels a day which is larger than the entire production of EXXON of oil from the ground. Even EXXON would not contemplate a fifty billion dollar project as they only take in partners for projects of that size such as Kashagan in Kazakstan where their portion is 16.81% and their partners as ENI, Total and others have about the same. They cannot assume the risk. Here in Saudi Arabia the risk is assumed by Aramco for their own field as the loan from the China Development Bank is made to Aramco itself. Genoil as the general contractor is the service company here as Schlumberger where we subcontract the work to Chinese engineering and construction giants, and handle the entire transaction. The company will reincorporate to Curacao soon as a Curacao corporation as Schlumberger to faciiitate projects all over the world. These subcontractors are very large entities such as the Yanchang Group, and we can bring in the largest oil and if necessary we can bring in the largest oil and engineering group in the world CNPC with 1.2 million employees which is larger than Aramco.
Partners
Eni (16.81%)
KazMunayGas (16.88%)
Royal Dutch Shell (16.81%)
Total S.A. (16.81%)
ExxonMobil (16.81%)
China National Petroleum Corporation (8.4%)
Inpex (7.56%)
Kashagan Field
The Kashagan Debacle
Canadian company to take part in a major oil project in Yakutia
The Canadian oilfield services company Genoil has signed an agreement of intent to develop five oil and gas fields in Yakutia with recoverable reserves of 1.8 billion barrels. According to the company, the project will require $ 35 billion, at the first stage, $ 6 billion is needed. Other parties to the agreement are not disclosed until the signing of the next document within the framework of the project.
The first block of these fields in Yakutia, adjacent to the Khatanga block, which is being developed by Rosneft, will produce 240,000 barrels per day. The approximate cost of connecting this unit to the Eastern Siberia-Pacific (ESPO) pipeline system and the pipeline systems of Western Siberia is $ 1.1 billion.
Genoil will act as the lead consultant for all aspects of the project, which will include engineering procurement and construction (EPC), equity and debt financing, as well as field service. According to Genoil Chief Operating Officer Bruce Abbott , this project enables the company's integration of the technology of increasing the level of hydroconversion (GHU) into the development of large oil fields at the earliest stage.In the Russian market, the first public appearance of Genoil occurred last year, when it signed a series of agreements, including with Grozneft on the possibility of attracting Chinese investment in the oil and gas complex of Chechnya. At the same time, the media reported that the head of Genoil David Lifschulz - a longtime partner of US President Donald Trump . This year the company also signed a tripartite agreement on scientific and technical cooperation with the Institute of Petroleum Refining in Bashkortostan, and the Institute of VNIIUS in Tatarstan. Scroll down for a summary of the company.
Pemex Heavy Crude Oil Has Arrived At Genoil Engineering Center In Russia And Pemex Engineers Will Be On Hand To Witness A Commercial And Scientific Demonstration Run Of The Genoil GHU Desulphurization Process
ACCESSWIRE• April 9, 2018
This New Demonstration Builds on Data Collected in Previously Successful Processing Runs for Conoco Canada, Lukoil Komi, CNPC division CPECC Dalian and other noteworthy clients
NEW YORK, NY / ACCESSWIRE / April 9, 2018 / Genoil Inc, (GNOLF) announces that high sulfur crude oil samples from Pemex (the Mexican State-owned petroleum company) have arrived at Genoil's engineering headquarters in Russia and that the demonstration will be conducted soon in the presence of Pemex engineers at our state-of-the-art multipurpose demonstration facility hosted by the UFA Scientific Research Institute of Petroleum Refining and Petrochemistry located in Bashkortostan. Technical viability has already been proven and the purpose of this commercial demonstration run will validate to Pemex the strength of the economic model created by the Genoil Hydroconversion Process from upgrading Pemex's heavy high sulfur crude oil into valuable light sweet, low sulfur crude oil. The feedstock demonstration will also support the engineering and design of a large-scale commercial GHU facility currently under evaluation by Genoil, to be constructed at the commercial crude center - Palomas in Veracruz Mexico, and additional regions of Mexico as well as other target project locations around the world. Genoil's engineering team is being led by Raushan Telyashev, formerly General Director of Lukoil and in charge of the all Lukoil design and R&D institutes for downstream at the second largest oil company in Russia. In 2012, Raushan was responsible to review all Lukoil Komi upgrading solution strategies, had met with Genoil and had been advising the lead team that had previously endorsed the successful demonstration of Genoil's GHU process on Lukoil Komi crude oil. Future planned demonstration runs shall create significant hard data that support our industry-leading EPC partners as we work toward basic engineering designs for commercial implementation. Correlations with previous tests shall confirm, liquid yield output, reduction of sulfur, acidity, metals and CAPEX costs.
At Genoil's request, the largest Chinese Policy bank issued a USD $5 billion letter of intent to Saudi Arabian Oil Company for a potential project in Saudi Arabia. This letter of intent was recently placed in the hand of Saudi Arabian Crown Prince Mohammed bin Salman by the Saudi Ambassador and the project is in advanced discussions. This same bank has expressed interest in financing Commercial Genoil upgrading facilities needed in Mexico and is willing to finance a million barrels per day of total capacity. Pemex's crude production has become "heavier" in recent decades as recent oil discoveries have been of the heavy oil variety and it is currently estimated that heavy crude represents approximately 75% of Pemex's crude production. Pemex has been actively seeking solutions and partners to participate in desulfurizing this heavy crude. The Secretariat of Energy of Mexico anticipates it will need to convert up to one million barrels/day of heavy crude.
Previously, Pemex said it was assessing the possibility of importing light crude oil to increase the efficiency of its refineries, however, issues with regard to compatibility have made this effort difficult. Genoil's Hydroconversion Upgrader (GHU) with its 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 is the ideal solution for Pemex's heavy oil.
Raushan Telyashev Genoil Vice President and former General Director of Lukoil said, "After the successful multiple demonstration process runs, and the addition of significant improvements we have since made to the GHU technology in the last 12 months; Pemex's engineers believe that hydroconversion can meet their needs for upgrading Mexican heavy and sour crude and that the purpose of the GHU demonstration is only to show the performance of the GHU hydroconversion process."
Bruce Abbott, President & C.O.O. of Genoil, commented, "Shipping this Pemex crude to UFA is a game-changing event for Genoil. We expect this test to take less than 30 days and result in a formal partnership between Pemex. Genoil has a goal of implementing one million barrels per day of total GHU Upgrading Capacity." Mr. Abbott continued, "People are the most important asset this company has, and we have a fantastic team in Mexico, Russia and around the world, we also have the best engineers and corporate partners in the industry." "Genoil has partnerships with two incredible institutes, UFA which we talked about in this release and also the OJS VNIIUS institute based in Kazan. VNIIUS works with companies like Chevron partnered with Lukoil, Rosneft & Gazprom and supports over one hundred different companies from around the globe." Abbott continues, "We are very happy to have two of the leading research and development institutes in the world supporting our engineering team to improve on the most advanced hydroconversion process in the world."
Genoil Signs Agreement to Develop Velikoye Oil Field in the Astrakhan Region of Russia
Agreement Builds on the International Relationships Genoil has Developed, as well as the Interest Generated in its State of the Art GHU Technology
MOSCOW / ACCESSWIRE / April 4, 2018 / Genoil (OTCQB: GNOLF) the publicly traded clean technology engineering company for the petroleum industry, has signed an agreement to attract finances and evaluate technologies to develop oil and gas fields in the Astrakhan Region of Russia. This agreement is with the license holder of this property; JSC Petroleumgas Company commonly known as “AFB”.
AFB’s licenses encompass 700 square kilometers where the Velikoye oil field was discovered. To date, AFB has conducted geological exploration of the Velikoye oil field that has included high-resolution 2D seismic, vertical seismic profile as well as offset vertical seismic profiling, interpretation of all archived seismic data etc. AFB has also drilled two prospecting wells.
In 2014 it was estimated that the Velikoye oil field was the largest oil field discovered in Russia in the last 20 years. It is projected that this field has a reserve of 300 million tons of oil and 90 billion cubic meters of natural gas.
Genoil will provide technology and project consultancy as well as advising on the finance and development of upstream and downstream projects. Genoil will act as the lead consultant on all aspects of the project which will include engineering procurement and construction (EPC), equity and debt financing, and oilfield services, as well as oil field operations and natural gas development.
Under the agreement, Genoil will participate in the development of oil fields and refineries, and will use its advanced Hydroconversion Upgrader (GHU) desulphurisation technology which converts heavy or sour crude oil into much more valuable, compliant low sulphur oil, for a low cost at the fraction of the cost of traditional refining processes.
Bruce Abbott, Chief Operating Officer, Genoil, commented:
“The agreement to develop this world-class property and unlock the potential of the oil reserves in the Vellikoye oil field represents a landmark opportunity for Genoil and our long-term shareholders.” Mr. Abbott continued, “This opportunity represents the culmination of our hard work to integrate our GHU Technology into the development of major oil fields right from inception. We continue to build on the successes we have had in developing international relationships across the globe. We look forward to reporting on the progress of this project on an ongoing basis as it develops.”
In September 2017, Genoil signed a tri-partite science, research and technical cooperation agreement with two leading Russian institutions, the UFA Scientific Research Institute of Petroleum Refining and Petrochemistry, located in Bashkortostan, and the OJS «VNIIUS» Institute, located in Tatarstan. The partnership focuses on the petrochemistry, petroleum refining and gas chemistry industries where, through joint co-operation and a wide base of expertise, the parties ??n add significant value to client proposals.
About Genoil Inc.:
Genoil is a publicly quoted clean technology engineering company for the petroleum industries. Genoil is headquartered in New York City. Genoil 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.
About The Genoil Hydroconversion Upgrader:
Genoil’s field upgrader (GHU) is an environmentally friendly process which reduces the carbon content of a barrel of crude oil while removing sulphur 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. Genoil is also working with environmentally focused companies to develop photovoltaic projects. 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.
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.
For further information, please contact:
Peter Weedon
BLUE Communications
T: 01865 514214
E: peter.weedon@blue-comms.com
Company Contact:
David K. Lifschultz
Genoil
T: 212 688 8868
E: chizz1@comcast.net
SOURCE: Genoil Inc.
Largest oil field in 20 years discovered in Russia
BUSINESS
APR 21, 2014
KOMMERSANT
ANNA SOLODOVNIKOVA
KIRILL MÉLNIKOV
Reserves contain 300 million tons of oil and 90 billion cubic meters of natural gas. Source: Shutterstock
Velikoye, an oil field with a projected reserve of 300 million tons of oil and 90 billion cubic meters of natural gas, is the largest found in Russia in the last 20 years. It is located in the Astrakhan Region and belongs to the small firm AFB. The project is in the exploratory phase.
The Russian Ministry of Natural Resources has announced the discovery of Velikoye, an oil field with a projected reserve of 300 million tons of oil and 90 billion cubic meters of natural gas, which is the largest found in Russia in the last 20 years. It is located in the Astrakhan Region and belongs to the small company AFB. The project is currently in the exploratory phase.
‘Record deposits’ on Sakhalin gas field are smaller than first thought
Rosneft the likeliest candidate
“Work continues at the oil field, but it is already clear that it is one of the largest fields recently discovered on land,” said Natural Resources Minister Sergei Donskoi. According to the minister, the development of the new oil field will proceed quickly and efficiently.
The field was discovered by the small company AFB, whose major shareholder is Vitaly Vantsev, the co-owner of Moscow’s Vnukovo Airport. The company is considering the major oil and gas companies as partners for the project, but so far is not conducting any negotiations on the subject of either a partial or a complete sale of its assets.
According to estimates by the lead analyst at UFS IC, Ilya Balakirev, a preliminary estimate puts the size of the investment at $1.5 billion.
“If the reserves at Velikoye are confirmed, this is definitely the largest oil field discovered in the past 20 years, and it could be, based on reserves, in sixth or seventh place out of the ten largest in the country,” said one expert.
Will Russia switch to ruble trading for oil and gas?
According to Pyotr Kaznacheyev, director of the Center for Raw Material Economics at RANEPA, considering the foreign policy and economic situation, Western banks will not provide those kind of funds. Moreover, their participation in the project as minority partners is unlikely.
Rosneft, which can acquire advance financing from Chinese state banks against future delivery of oil, is the most likely to show interest in the project. As Rosneft depends on government contracts it is in a position to take advantage of this plan. The company’s purchase of TNK-BP was also financed this way.
Guarded approach
Information about the discovery of a large oil field in the Astrakhan Region came to light two years ago, but at that time its reserves were estimated at only 43 million tons of oil. In 2013, Interfax, quoting the lead geologist at AFB, reported that the company estimated the field’s reserves at 140 million tons of oil and 40 billion cubic meters of natural gas. At the same time, it was noted that the Velikoye oil was light crude.
Today, the majority of the oil in the Astrakhan Region is extra heavy, and its processing and subsequent sale is extremely difficult. One of the market participants told Kommersant that it took an interest in, for example, one of the neighboring fields, but in the end declined the purchase. If reserves of light crude in the field are confirmed, that completely changes things.
Will Ukraine be able to find an alternative to Gazprom?
The largest companies in the field — Rosneft, Lukoi, and Gazpromneft — have declined to comment on their interest in the project. According to Karen Dashyan of Advance Capital, only one exploratory well has been drilled and cannot provide exact information about the oil reserves. In his opinion, that is why investors have so far considered the risk factor to be high.
“For the field’s reserves to be convincing for the market, the company needs two or three more wells,” he said.
All rights reserved by Rossiyskaya Gazeta. Largest oil field in 20 years discovered in Russia
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