Eurocontrol Technics Group (fka EUO.V)

[Ayeyou]

Philippines next ?

Customs to reintroduce fuel-marking system
by Chino Leyco
July 26, 2015

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The government is planning to reintroduce the fuel-marking system in the country to curb oil smuggling, according to Bureau of Customs (BOC) Commissioner Alberto D. Lina.

Lina said that BOC is in the process of coming up with the terms of reference (TOR) for the planned fuel-marking system. The TOR is set for release next month.

“The intention is to have all our fuels whether locally refined or imported marked, there will be no distinctions this time,” Lina told reporters. “We want to implement this fuel-marking system as soon as possible.”

image: http://www.mb.com.ph/wp-content/uploads/2015/07/vxcb-267x300.jpg

image: http://www.mb.com.ph/wp-content/uploads/2015/07/vxcb-267x300.jpg

Alberto D. Lina
Alberto D. Lina
Lina said Customs will hold a bidding for all prospective suppliers of fuel-markings.

The Customs chief, however, said the cost of fuel markings should be shouldered by oil companies, adding the agency will have pilot testings in Visayas or Mindanao.

“For the entire country, the fuel-marking system is estimated to cost $25 million, but the potential tax revenues, once implemented, is estimated to reach $300 million,” Lina said.

Fuel-marking scheme was first introduced during the Arroyo administration but was discontinued in the middle of President Benigno S. Aquino III’s term.

“In the previous administration, fuel marking system only covered the duty-free fuels, which is a bit odd because unmarked fuel means taxes and duties were paid,” Lina said.

He also said Customs decided not to renew its contract with previous fuel-marks supplier, Swiss inspection services provider Societe Generale de Surveillance (SGS) when it expired years ago.

“SGS is still welcome to join this bidding for the fuel-marking system contract,” Lina said.

In a Department of Finance Order 23 issued in 2007, the Customs bureau was tasked to carry out mandatory marking of imported kerosene and fuel that enter tax-and duty-free to prevent diversion to the domestic market.

There were reports at that time that tax- and duty-free articles have been subsequently entered the domestic market illegally without payment of the proper duties and taxes that resulted in huge revenue losses to the government and legitimate oil companies.

The government’s main objectives of that initiative was to properly identify and track fuel oils that enter the Philippines without tax payments, plug the leakages of duties, and provide necessary tool and evidence for the prosecution of people involve in this kind of activity.

The mandatory marking was initially implemented in Subic Bay Freeport, Clark Special Economic Zone and the Port of Batangas, under the supervision of a program implementation office.


Read more at http://www.mb.com.ph/customs-to-reintroduce-fuel-marking-system/#ZiG1fU6bRQt1JhEH.99


Oil firms oppose fuel-marking scheme

By Danessa O. rivera (The Philippine Star) | Updated September 9, 2015 - 12:00am
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MANILA, Philippines - Oil companies are opposing the implementation of the fuel marking scheme on fuel imports on concerns this could result in additional costs to consumers.

Originally eyed last month, the Bureau of Customs (BOC) is delaying the implementation of the new scheme aimed to arrest revenue losses from oil smuggling before the year ends.

“We’re hoping it will be implemented by year-end,” BOC commissioner Alberto Lina said in an interview with The STAR.

Under the new system, imported kerosene and diesel products whose taxes have already been paid would carry the markings, making it easier for the bureau to identify smuggled oil products.

However, oil companies would shoulder the cost of the fuel marking technology estimated at $25 million, the subject of their opposition, the BOC chief said.

Oil firms cited the marking cost may be added on top of the fuel selling price as a reason, he noted.

“Oil companies are negotiating with us to lower the cost,“ Lina said. “If they pay the marking cost, prices of oil may increase. That’s what we’re weighing in our decision because it will affect consumers.“

Last July, the BOC started preparing the terms of reference for project in which a contractor would be hired to mark oil products entering the country.

The fuel marking scheme will be tested first in Visayas and Mindanao before requiring it nationwide.

The agency stands to generate $300 million in fresh revenues with this project as it is expected to reduce smuggling in the country, Lina had said earlier.

SICPA CEO mentioning The Philippines:




This is a list of countries by oil consumption based on the CIA World Factbook.[2]


25 M * 5 % = 1.25M in Royalties just from #41 country in the World:

Rank Country/Region Oil consumption
(bbl/day) Year
1
image: https://upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/23px-Flag_of_the_United_States.svg.png

United States 19,840,000 2011 est.
2
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Flag_of_the_People%27s_Republic_of_China.svg/23px-Flag_of_the_People%27s_Republic_of_China.svg.png

China 9,790,000 2011 est.
3
image: https://upload.wikimedia.org/wikipedia/en/thumb/9/9e/Flag_of_Japan.svg/23px-Flag_of_Japan.svg.png

Japan 4,464,000 2011 est.
4
image: https://upload.wikimedia.org/wikipedia/en/thumb/4/41/Flag_of_India.svg/23px-Flag_of_India.svg.png

India 3,509,000 2013 est.[3]
5
image: https://upload.wikimedia.org/wikipedia/en/thumb/f/f3/Flag_of_Russia.svg/23px-Flag_of_Russia.svg.png

Russia 3,196,000 2012 est.
6
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/23px-Flag_of_Saudi_Arabia.svg.png

Saudi Arabia 2,817,000 2011 est.
7
image: https://upload.wikimedia.org/wikipedia/en/thumb/0/05/Flag_of_Brazil.svg/22px-Flag_of_Brazil.svg.png

Brazil 2,594,000 2011 est.
8
image: https://upload.wikimedia.org/wikipedia/en/thumb/b/ba/Flag_of_Germany.svg/23px-Flag_of_Germany.svg.png

Germany 2,400,000 2011 est.
9
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/09/Flag_of_South_Korea.svg/23px-Flag_of_South_Korea.svg.png

South Korea 2,301,000 2012 est.
10
image: https://upload.wikimedia.org/wikipedia/en/thumb/c/cf/Flag_of_Canada.svg/23px-Flag_of_Canada.svg.png

Canada 2,259,000 NA
11
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fc/Flag_of_Mexico.svg/23px-Flag_of_Mexico.svg.png

Mexico 2,133,000 2011 est.
12
image: https://upload.wikimedia.org/wikipedia/en/thumb/c/c3/Flag_of_France.svg/23px-Flag_of_France.svg.png

France 1,792,000 2011 est.
13
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/23px-Flag_of_Iran.svg.png

Iran 1,709,000 2012 est.
14
image: https://upload.wikimedia.org/wikipedia/en/thumb/0/03/Flag_of_Italy.svg/23px-Flag_of_Italy.svg.png

Italy 1,454,000 2011 est.
15
image: https://upload.wikimedia.org/wikipedia/en/thumb/9/9a/Flag_of_Spain.svg/23px-Flag_of_Spain.svg.png

Spain 1,384,000 2011 est.
16
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/48/Flag_of_Singapore.svg/23px-Flag_of_Singapore.svg.png

Singapore 1,380,000 2012 est.
17
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_Indonesia.svg/23px-Flag_of_Indonesia.svg.png

Indonesia 1,322,000 2011 est.
18
image: https://upload.wikimedia.org/wikipedia/en/thumb/a/ae/Flag_of_the_United_Kingdom.svg/23px-Flag_of_the_United_Kingdom.svg.png

United Kingdom 1,217,000 2013 est.
19
image: https://upload.wikimedia.org/wikipedia/en/thumb/b/b9/Flag_of_Australia.svg/23px-Flag_of_Australia.svg.png

Australia 1,023,000 2011 est.
20
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/20/Flag_of_the_Netherlands.svg/23px-Flag_of_the_Netherlands.svg.png

Netherlands 1,010,000 2011 est.
21
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/23px-Flag_of_Iraq.svg.png

Iraq 818,000 2011 est.
22
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Flag_of_Egypt.svg/23px-Flag_of_Egypt.svg.png

Egypt 816,300 2011 est.
23
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/72/Flag_of_the_Republic_of_China.svg/23px-Flag_of_the_Republic_of_China.svg.png

Taiwan 786,100 2011 est.
24
image: https://upload.wikimedia.org/wikipedia/commons/thumb/a/a9/Flag_of_Thailand.svg/23px-Flag_of_Thailand.svg.png

Thailand 721,100 2011 est.
25
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/b4/Flag_of_Turkey.svg/23px-Flag_of_Turkey.svg.png

Turkey 706,100 2011 est.
26
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/1a/Flag_of_Argentina.svg/23px-Flag_of_Argentina.svg.png

Argentina 678,100 2011 est.
27
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_Belgium_%28civil%29.svg/23px-Flag_of_Belgium_%28civil%29.svg.png

Belgium 644,400 2011 est.
28
image: https://upload.wikimedia.org/wikipedia/commons/thumb/a/af/Flag_of_South_Africa.svg/23px-Flag_of_South_Africa.svg.png

South Africa 590,900 2011 est.
29
image: https://upload.wikimedia.org/wikipedia/en/thumb/1/12/Flag_of_Poland.svg/23px-Flag_of_Poland.svg.png

Poland 576,600 2011 est.
30
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/23px-Flag_of_the_United_Arab_Emirates.svg.png

United Arab Emirates 572,100 2011 est.
31
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/23px-Flag_of_Venezuela.svg.png

Venezuela 571,000 2011 est.
32
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/66/Flag_of_Malaysia.svg/23px-Flag_of_Malaysia.svg.png

Malaysia 542,900 2011 est.
33
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/32/Flag_of_Pakistan.svg/23px-Flag_of_Pakistan.svg.png

Pakistan 426,700 2011 est.
34
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Greece.svg/23px-Flag_of_Greece.svg.png

Greece 343,400 2011 est.
35
image: https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/23px-Flag_of_Kuwait.svg.png

Kuwait 339,000 2011 est.
36
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/5b/Flag_of_Hong_Kong.svg/23px-Flag_of_Hong_Kong.svg.png

Hong Kong 333,900 2013 est.
37
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/78/Flag_of_Chile.svg/23px-Flag_of_Chile.svg.png

Chile 321,700 2011 est.
38
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/49/Flag_of_Ukraine.svg/23px-Flag_of_Ukraine.svg.png

Ukraine 320,600 2011 est.
39
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/23px-Flag_of_Algeria.svg.png

Algeria 316,400 2011 est.
40
image: https://upload.wikimedia.org/wikipedia/en/thumb/4/4c/Flag_of_Sweden.svg/23px-Flag_of_Sweden.svg.png

Sweden 316,000 2011 est.
41
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/99/Flag_of_the_Philippines.svg/23px-Flag_of_the_Philippines.svg.png

Philippines 315,600 2011 est.
42
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/23px-Flag_of_Libya.svg.png

Libya 314,000 2011 est.
43
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/21/Flag_of_Colombia.svg/23px-Flag_of_Colombia.svg.png

Colombia 287,000 2011 est.
44
image: https://upload.wikimedia.org/wikipedia/commons/thumb/e/e8/Flag_of_Ecuador.svg/23px-Flag_of_Ecuador.svg.png

Ecuador 280,000 2012 est.
45
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/23px-Flag_of_Nigeria.svg.png

Nigeria 271,600 2011 est.
46
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/21/Flag_of_Vietnam.svg/23px-Flag_of_Vietnam.svg.png

Vietnam 259,900 2012 est.
47
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Portugal.svg/23px-Flag_of_Portugal.svg.png

Portugal 259,700 2011 est.
48
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/53/Flag_of_Syria.svg/23px-Flag_of_Syria.svg.png

Syria 258,800 2011 est.
49
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Flag_of_Switzerland.svg/16px-Flag_of_Switzerland.svg.png

Switzerland 258,200 2011 est.
50
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d9/Flag_of_Norway.svg/21px-Flag_of_Norway.svg.png

Norway 255,200 2011 est.
51
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d3/Flag_of_Kazakhstan.svg/23px-Flag_of_Kazakhstan.svg.png

Kazakhstan 244,200 2011 est.
52
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d4/Flag_of_Israel.svg/21px-Flag_of_Israel.svg.png

Israel 238,400 2011 est.
53
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/73/Flag_of_Romania.svg/23px-Flag_of_Romania.svg.png

Romania 218,200 2011 est.
54
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/41/Flag_of_Austria.svg/23px-Flag_of_Austria.svg.png

Austria 210,700 2011 est.
55
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/cf/Flag_of_Peru.svg/23px-Flag_of_Peru.svg.png

Peru 206,900 2012 est.
56
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/bc/Flag_of_Finland.svg/23px-Flag_of_Finland.svg.png

Finland 204,800 2011 est.
57
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/2c/Flag_of_Morocco.svg/23px-Flag_of_Morocco.svg.png

Morocco 203,600 2011 est.
58
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_Czech_Republic.svg/23px-Flag_of_the_Czech_Republic.svg.png

Czech Republic 199,000 2011 est.
59
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/65/Flag_of_Qatar.svg/23px-Flag_of_Qatar.svg.png

Qatar 189,700 2012 est.
60
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/85/Flag_of_Belarus.svg/23px-Flag_of_Belarus.svg.png

Belarus 188,800 2011 est.
61
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/89/Flag_of_Yemen.svg/23px-Flag_of_Yemen.svg.png

Yemen 177,000 2011 est.
62
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/dd/Flag_of_Azerbaijan.svg/23px-Flag_of_Azerbaijan.svg.png

Azerbaijan 168,000 2011 est.
63
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9c/Flag_of_Denmark.svg/20px-Flag_of_Denmark.svg.png

Denmark 160,200 2011 est.
64
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/28/Flag_of_Puerto_Rico.svg/23px-Flag_of_Puerto_Rico.svg.png

Puerto Rico 151,600 2011 est.
65
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Flag_of_Cuba.svg/23px-Flag_of_Cuba.svg.png

Cuba 150,200 2011 est.
66
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/3e/Flag_of_New_Zealand.svg/23px-Flag_of_New_Zealand.svg.png

New Zealand 148,900 2011 est.
67
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/1b/Flag_of_Turkmenistan.svg/23px-Flag_of_Turkmenistan.svg.png

Turkmenistan 145,000 2011 est.
68
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/45/Flag_of_Ireland.svg/23px-Flag_of_Ireland.svg.png

Ireland 144,000 2011 est.
69
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/c1/Flag_of_Hungary.svg/23px-Flag_of_Hungary.svg.png

Hungary 141,100 2011 est.
70
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/84/Flag_of_Uzbekistan.svg/23px-Flag_of_Uzbekistan.svg.png

Uzbekistan 137,100 2011 est.
71
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_the_Dominican_Republic.svg/23px-Flag_of_the_Dominican_Republic.svg.png

Dominican Republic 122,300 2011 est.
72
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9a/Flag_of_Bulgaria.svg/23px-Flag_of_Bulgaria.svg.png

Bulgaria 112,700 2011 est.
73
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f9/Flag_of_Bangladesh.svg/23px-Flag_of_Bangladesh.svg.png

Bangladesh 108,900 2011 est.
74
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Flag_of_Jordan.svg/23px-Flag_of_Jordan.svg.png

Jordan 107,000 2011 est.
75
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/59/Flag_of_Lebanon.svg/23px-Flag_of_Lebanon.svg.png

Lebanon 106,700 2011 est.
76
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f8/Flag_of_the_United_States_Virgin_Islands.svg/23px-Flag_of_the_United_States_Virgin_Islands.svg.png

U.S. Virgin Islands 106,100 2011 est.
77
image: https://upload.wikimedia.org/wikipedia/commons/thumb/a/ab/Flag_of_Panama.svg/23px-Flag_of_Panama.svg.png

Panama 98,890 2011 est.
78
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/dd/Flag_of_Oman.svg/23px-Flag_of_Oman.svg.png

Oman 98,000 2011 est.
79
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/01/Flag_of_Sudan.svg/23px-Flag_of_Sudan.svg.png

Sudan 95,450 2011 est.
80
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/11/Flag_of_Sri_Lanka.svg/23px-Flag_of_Sri_Lanka.svg.png

Sri Lanka 89,620 2011 est.
81
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/ce/Flag_of_Tunisia.svg/23px-Flag_of_Tunisia.svg.png

Tunisia 88,380 2011 est.
82
image: https://upload.wikimedia.org/wikipedia/commons/thumb/e/e6/Flag_of_Slovakia.svg/23px-Flag_of_Slovakia.svg.png

Slovakia 83,910 2011 est.
83
image: https://upload.wikimedia.org/wikipedia/commons/thumb/e/ec/Flag_of_Guatemala.svg/23px-Flag_of_Guatemala.svg.png

Guatemala 80,810 2011 est.
84
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Flag_of_Angola.svg/23px-Flag_of_Angola.svg.png

Angola 79,430 2011 est.
85
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/49/Flag_of_Kenya.svg/23px-Flag_of_Kenya.svg.png

Kenya 79,410 2011 est.
86
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Flag_of_Jamaica.svg/23px-Flag_of_Jamaica.svg.png

Jamaica 78,520 2011 est.
87
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/1b/Flag_of_Croatia.svg/23px-Flag_of_Croatia.svg.png

Croatia 74,410 2012 est.
88
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/ff/Flag_of_Serbia.svg/23px-Flag_of_Serbia.svg.png

Serbia 72,770 2013 est.
89
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/b1/Flag_of_Cura%C3%A7ao.svg/23px-Flag_of_Cura%C3%A7ao.svg.png

Curacao 72,000 2010 est.
90
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/11/Flag_of_Lithuania.svg/23px-Flag_of_Lithuania.svg.png

Lithuania 70,390 2011 est.
91
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/19/Flag_of_Ghana.svg/23px-Flag_of_Ghana.svg.png

Ghana 61,590 2011 est.
92
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/da/Flag_of_Luxembourg.svg/23px-Flag_of_Luxembourg.svg.png

Luxembourg 61,380 2011 est.
93
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d4/Flag_of_Cyprus.svg/23px-Flag_of_Cyprus.svg.png

Cyprus 58,430 2011 est.
94
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/82/Flag_of_Honduras.svg/23px-Flag_of_Honduras.svg.png

Honduras 58,150 2011 est.
95
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/48/Flag_of_Bolivia.svg/22px-Flag_of_Bolivia.svg.png

Bolivia 55,560 2013 est.
96
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f0/Flag_of_Slovenia.svg/23px-Flag_of_Slovenia.svg.png

Slovenia 52,930 2011 est.
97
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/2c/Flag_of_Bahrain.svg/23px-Flag_of_Bahrain.svg.png

Bahrain 51,450 2012 est.
98
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Flag_of_Uruguay.svg/23px-Flag_of_Uruguay.svg.png

Uruguay 51,100 2011 est.
99
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f2/Flag_of_Costa_Rica.svg/23px-Flag_of_Costa_Rica.svg.png

Costa Rica 50,200 2011 est.
100
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/71/Flag_of_Ethiopia.svg/23px-Flag_of_Ethiopia.svg.png

Ethiopia 49,080 2011 est.
101
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/2f/Flag_of_Armenia.svg/23px-Flag_of_Armenia.svg.png

Armenia 45,300 2011 est.
102
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/34/Flag_of_El_Salvador.svg/23px-Flag_of_El_Salvador.svg.png

El Salvador 44,040 2011 est.
103
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/38/Flag_of_Tanzania.svg/23px-Flag_of_Tanzania.svg.png

Tanzania 43,310 2011 est.
104
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/64/Flag_of_Trinidad_and_Tobago.svg/23px-Flag_of_Trinidad_and_Tobago.svg.png

Trinidad and Tobago 41,000 2011 est.
105
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Flag_of_Myanmar.svg/23px-Flag_of_Myanmar.svg.png

Burma 40,620 2011 est.
106
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fd/Flag_of_Senegal.svg/23px-Flag_of_Senegal.svg.png

Senegal 40,600 2011 est.
107
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/83/Flag_of_Cambodia.svg/23px-Flag_of_Cambodia.svg.png

Cambodia 39,350 2011 est.
108
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/36/Flag_of_Albania.svg/21px-Flag_of_Albania.svg.png

Albania 38,390 2011 est.
109
image: https://upload.wikimedia.org/wikipedia/commons/thumb/e/e3/Flag_of_Papua_New_Guinea.svg/20px-Flag_of_Papua_New_Guinea.svg.png

Papua New Guinea 36,320 2011 est.
110
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/93/Flag_of_the_Bahamas.svg/23px-Flag_of_the_Bahamas.svg.png

Bahamas 36,300 2011 est.
111
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/84/Flag_of_Latvia.svg/23px-Flag_of_Latvia.svg.png

Latvia 31,340 2011 est.
112
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/19/Flag_of_Nicaragua.svg/23px-Flag_of_Nicaragua.svg.png

Nicaragua 30,690 2011 est.
113
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/4f/Flag_of_Cameroon.svg/23px-Flag_of_Cameroon.svg.png

Cameroon 29,410 2011 est.
114
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/00/Flag_of_Palestine.svg/23px-Flag_of_Palestine.svg.png

West Bank 29,310 2011 est.
115
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Flag_of_Benin.svg/23px-Flag_of_Benin.svg.png

Benin 29,170 2011 est.
116
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/68/Flag_of_Togo.svg/23px-Flag_of_Togo.svg.png

Togo 28,670 2011 est.
117
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/bf/Flag_of_Bosnia_and_Herzegovina.svg/23px-Flag_of_Bosnia_and_Herzegovina.svg.png

Bosnia and Herzegovina 27,540 2011 est.
118
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/27/Flag_of_Paraguay.svg/23px-Flag_of_Paraguay.svg.png

Paraguay 26,820 2011 est.
119
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Flag_of_Estonia.svg/23px-Flag_of_Estonia.svg.png

Estonia 26,340 2011 est.
120
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/02/Flag_of_Gibraltar.svg/23px-Flag_of_Gibraltar.svg.png

Gibraltar 24,920 2011 est.
121
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Mauritius.svg/23px-Flag_of_Mauritius.svg.png

Mauritius 24,710 2011 est.
122
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Flag_of_C%C3%B4te_d%27Ivoire.svg/23px-Flag_of_C%C3%B4te_d%27Ivoire.svg.png

Cte d'Ivoire 24,630 2011 est.
123
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/00/Flag_of_Namibia.svg/23px-Flag_of_Namibia.svg.png

Namibia 22,990 2011 est.
124
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Flag_of_Mongolia.svg/23px-Flag_of_Mongolia.svg.png

Mongolia 21,610 2011 est.
125
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/ce/Flag_of_Iceland.svg/21px-Flag_of_Iceland.svg.png

Iceland 20,770 2011 est.
126
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d0/Flag_of_Tajikistan.svg/23px-Flag_of_Tajikistan.svg.png

Tajikistan 20,090 2013 est.
127
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d0/Flag_of_Mozambique.svg/23px-Flag_of_Mozambique.svg.png

Mozambique 19,580 2011 est.
128
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/73/Flag_of_Malta.svg/23px-Flag_of_Malta.svg.png

Malta 19,520 2011 est.
129
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Zambia.svg/23px-Flag_of_Zambia.svg.png

Zambia 19,260 2011 est.
130
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/6a/Flag_of_Zimbabwe.svg/23px-Flag_of_Zimbabwe.svg.png

Zimbabwe 19,030 2011 est.
131
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9b/Flag_of_Nepal.svg/16px-Flag_of_Nepal.svg.png

Nepal 18,430 2011 est.
132
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/43/Flag_of_Mauritania.svg/23px-Flag_of_Mauritania.svg.png

Mauritania 18,120 2011 est.
133
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/ba/Flag_of_Fiji.svg/23px-Flag_of_Fiji.svg.png

Fiji 17,810 2011 est.
134
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f8/Flag_of_Macedonia.svg/23px-Flag_of_Macedonia.svg.png

Macedonia 17,490 2011 est.
135
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/bc/Flag_of_Madagascar.svg/23px-Flag_of_Madagascar.svg.png

Madagascar 17,480 2011 est.
136
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/0f/Flag_of_Georgia.svg/23px-Flag_of_Georgia.svg.png

Georgia 17,280 2011 est.
137
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/4e/Flag_of_Uganda.svg/23px-Flag_of_Uganda.svg.png

Uganda 16,930 2011 est.
138
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/c7/Flag_of_Kyrgyzstan.svg/23px-Flag_of_Kyrgyzstan.svg.png

Kyrgyzstan 16,640 2011 est.
139
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/20px-Flag_of_Gabon.svg.png

Gabon 15,800 2011 est.
140
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Flag_of_Botswana.svg/23px-Flag_of_Botswana.svg.png

Botswana 15,420 2011 est.
141
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/27/Flag_of_Moldova.svg/23px-Flag_of_Moldova.svg.png

Moldova 15,320 2012 est.
142
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/51/Flag_of_North_Korea.svg/23px-Flag_of_North_Korea.svg.png

North Korea 15,000 2012 est.
143
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9c/Flag_of_Brunei.svg/23px-Flag_of_Brunei.svg.png

Brunei 14,640 2011 est.
144
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/07/Flag_of_Guam.svg/23px-Flag_of_Guam.svg.png

Guam 14,490 2011 est.
145
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/60/Flag_of_Suriname.svg/23px-Flag_of_Suriname.svg.png

Suriname 14,100 2011 est.
146
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/56/Flag_of_Haiti.svg/23px-Flag_of_Haiti.svg.png

Haiti 14,000 2011 est.
147
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/88/Pro-Independence_Flag_of_New_Caledonia.svg/23px-Pro-Independence_Flag_of_New_Caledonia.svg.png

New Caledonia 13,640 2011 est.
148
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/34/Flag_of_Djibouti.svg/23px-Flag_of_Djibouti.svg.png

Djibouti 12,460 2011 est.
149
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d1/Flag_of_Malawi.svg/23px-Flag_of_Malawi.svg.png

Malawi 12,060 2011 est.
150
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/99/Flag_of_Guyana.svg/23px-Flag_of_Guyana.svg.png

Guyana 10,910 2011 est.
151
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_the_Republic_of_the_Congo.svg/23px-Flag_of_the_Republic_of_the_Congo.svg.png

Republic of the Congo 10,710 2011 est.
152
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/6f/Flag_of_the_Democratic_Republic_of_the_Congo.svg/20px-Flag_of_the_Democratic_Republic_of_the_Congo.svg.png

Democratic Republic of the Congo 10,240 2011 est.
153
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Burkina_Faso.svg/23px-Flag_of_Burkina_Faso.svg.png

Burkina Faso 9,960 2011 est.
154
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/17/Flag_of_Sierra_Leone.svg/23px-Flag_of_Sierra_Leone.svg.png

Sierra Leone 8,768 2011 est.
155
image: https://upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Flag_of_Guinea.svg/23px-Flag_of_Guinea.svg.png

Guinea 8,671 2011 est.
156
image: https://upload.wikimedia.org/wikipedia/commons/thumb/e/ef/Flag_of_Barbados.svg/23px-Flag_of_Barbados.svg.png

Barbados 8,339 2011 est.
157
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/db/Flag_of_French_Polynesia.svg/23px-Flag_of_French_Polynesia.svg.png

French Polynesia 8,000 2011 est.
158
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fc/Flag_of_Seychelles.svg/23px-Flag_of_Seychelles.svg.png

Seychelles 7,793 2011 est.
159
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/63/Flag_of_Macau.svg/23px-Flag_of_Macau.svg.png

Macau 7,376 2013 est.
160
image: https://upload.wikimedia.org/wikipedia/commons/thumb/e/e7/Flag_of_Belize.svg/23px-Flag_of_Belize.svg.png

Belize 7,044 2011 est.
161
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/0f/Flag_of_Maldives.svg/23px-Flag_of_Maldives.svg.png

Maldives 6,875 2011 est.
162
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Aruba.svg/23px-Flag_of_Aruba.svg.png

Aruba 5,661 2011 est.
163
image: https://upload.wikimedia.org/wikipedia/commons/thumb/a/a0/Flag_of_Somalia.svg/23px-Flag_of_Somalia.svg.png

Somalia 5,659 2011 est.
164
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f4/Flag_of_Niger.svg/18px-Flag_of_Niger.svg.png

Niger 5,629 2011 est.
165
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/17/Flag_of_Rwanda.svg/23px-Flag_of_Rwanda.svg.png

Rwanda 5,245 2011 est.
166
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/87/Flag_of_American_Samoa.svg/23px-Flag_of_American_Samoa.svg.png

American Samoa 5,115 2011 est.
167
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/89/Flag_of_Antigua_and_Barbuda.svg/23px-Flag_of_Antigua_and_Barbuda.svg.png

Antigua and Barbuda 5,000 2011 est.
168
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_Mali.svg/23px-Flag_of_Mali.svg.png

Mali 4,994 2011 est.
169
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/3c/Flag_of_the_Faroe_Islands.svg/21px-Flag_of_the_Faroe_Islands.svg.png

Faroe Islands 4,871 2011 est.
170
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/1e/Flag_of_Swaziland.svg/23px-Flag_of_Swaziland.svg.png

Swaziland 4,567 2011 est.
171
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/29/Flag_of_Eritrea.svg/23px-Flag_of_Eritrea.svg.png

Eritrea 4,480 2011 est.
172
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/64/Flag_of_Montenegro.svg/23px-Flag_of_Montenegro.svg.png

Montenegro 4,446 2011 est.
173
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9a/Flag_of_Afghanistan.svg/23px-Flag_of_Afghanistan.svg.png

Afghanistan 4,229 2011 est.
174
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/09/Flag_of_Greenland.svg/23px-Flag_of_Greenland.svg.png

Greenland 3,897 2011 est.
175
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/b8/Flag_of_Liberia.svg/23px-Flag_of_Liberia.svg.png

Liberia 3,533 2011 est.
176
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/56/Flag_of_Laos.svg/23px-Flag_of_Laos.svg.png

Laos 3,391 2011 est.
177
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_The_Gambia.svg/23px-Flag_of_The_Gambia.svg.png

Gambia 3,181 2011 est.
178
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/6f/Flag_of_the_Central_African_Republic.svg/23px-Flag_of_the_Central_African_Republic.svg.png

Central African Republic 3,175 2011 est.
179
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/0f/Flag_of_the_Cayman_Islands.svg/23px-Flag_of_the_Cayman_Islands.svg.png

Cayman Islands 3,141 2011 est.
180
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/01/Flag_of_Guinea-Bissau.svg/23px-Flag_of_Guinea-Bissau.svg.png

Guinea-Bissau 2,922 2011 est.
181
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_Saint_Lucia.svg/23px-Flag_of_Saint_Lucia.svg.png

Saint Lucia 2,922 2011 est.
182
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/bc/Flag_of_Grenada.svg/23px-Flag_of_Grenada.svg.png

Grenada 2,803 2011 est.
183
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/26/Flag_of_East_Timor.svg/23px-Flag_of_East_Timor.svg.png

Timor-Leste 2,755 2011 est.
184
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/bf/Flag_of_Bermuda.svg/23px-Flag_of_Bermuda.svg.png

Bermuda 2,747 2012 est.
185
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/38/Flag_of_Cape_Verde.svg/23px-Flag_of_Cape_Verde.svg.png

Cabo Verde 2,608 2011 est.
186
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/50/Flag_of_Burundi.svg/23px-Flag_of_Burundi.svg.png

Burundi 2,290 2011 est.
187
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/26/Flag_of_the_Sahrawi_Arab_Democratic_Republic.svg/23px-Flag_of_the_Sahrawi_Arab_Democratic_Republic.svg.png

Western Sahara 1,948 2011 est.
188
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/6d/Flag_of_Saint_Vincent_and_the_Grenadines.svg/23px-Flag_of_Saint_Vincent_and_the_Grenadines.svg.png

Saint Vincent and the Grenadines 1,948 2011 est.
189
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/4b/Flag_of_Chad.svg/23px-Flag_of_Chad.svg.png

Chad 1,817 2011 est.
190
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/4a/Flag_of_Lesotho.svg/23px-Flag_of_Lesotho.svg.png

Lesotho 1,777 2011 est.
191
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/74/Flag_of_the_Solomon_Islands.svg/23px-Flag_of_the_Solomon_Islands.svg.png

Solomon Islands 1,728 2011 est.
192
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/91/Flag_of_Bhutan.svg/23px-Flag_of_Bhutan.svg.png

Bhutan 1,719 2011 est.
193
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/23px-Flag_of_Equatorial_Guinea.svg.png

Equatorial Guinea 1,588 2011 est.
194
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Flag_of_Saint_Kitts_and_Nevis.svg/23px-Flag_of_Saint_Kitts_and_Nevis.svg.png

Saint Kitts and Nevis 1,496 2011 est.
195
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9a/Flag_of_Tonga.svg/23px-Flag_of_Tonga.svg.png

Tonga 1,221 2011 est.
196
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/bc/Flag_of_Vanuatu.svg/23px-Flag_of_Vanuatu.svg.png

Vanuatu 1,170 2011 est.
197
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Samoa.svg/23px-Flag_of_Samoa.svg.png

Samoa 1,070 2011 est.
198
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/94/Flag_of_the_Comoros.svg/23px-Flag_of_the_Comoros.svg.png

Comoros 1,025 2011 est.
199
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/30/Flag_of_Nauru.svg/23px-Flag_of_Nauru.svg.png

Nauru 1,000 2011 est.
200
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d0/Flag_of_Montserrat.svg/23px-Flag_of_Montserrat.svg.png

Montserrat 1,000 2011 est.
201
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/42/Flag_of_the_British_Virgin_Islands.svg/23px-Flag_of_the_British_Virgin_Islands.svg.png

British Virgin Islands 1,000 2011 est.
202
image: https://upload.wikimedia.org/wikipedia/commons/thumb/a/a0/Flag_of_the_Turks_and_Caicos_Islands.svg/23px-Flag_of_the_Turks_and_Caicos_Islands.svg.png

Turks and Caicos Islands 999 2011 est.
203
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/35/Flag_of_the_Cook_Islands.svg/23px-Flag_of_the_Cook_Islands.svg.png

Cook Islands 974 2011 est.
204
image: https://upload.wikimedia.org/wikipedia/en/thumb/c/c3/Flag_of_France.svg/23px-Flag_of_France.svg.png

Saint Pierre and Miquelon 974 2011 est.
205
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/c4/Flag_of_Dominica.svg/23px-Flag_of_Dominica.svg.png

Dominica 918 2011 est.
206
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/4f/Flag_of_Sao_Tome_and_Principe.svg/23px-Flag_of_Sao_Tome_and_Principe.svg.png

Sao Tome and Principe 904 2011 est.
207
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/83/Flag_of_the_Falkland_Islands.svg/23px-Flag_of_the_Falkland_Islands.svg.png

Falkland Islands 300 2011 est.
208
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d3/Flag_of_Kiribati.svg/23px-Flag_of_Kiribati.svg.png

Kiribati 300 2011 est.
209
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/00/Flag_of_Saint_Helena.svg/23px-Flag_of_Saint_Helena.svg.png

Saint Helena 100 2011 est.
To: madmax123 who wrote (38522) 9/4/2015 3:26:56 PM
From: zen_lunatic420 4 Recommendations Read Replies (1)
38527
of 39659

EUO/SIPCA market perspective: GFI's three current clients amount to 98,630 bbl/day of world oil consumption. In rank order of the world's largest oil consumers they are #103 (Tanzenia), #108 (Albania), and #137 (Uganda). Panama consumes more oil than all three of GFI's current clients combined and ranks #77 with 98,890 bbl/day of oil consumption. Given that Mexico ranks #11 with 2,133,000 bbl/day, it could be said that a contract with any top 11 country could grow GFI's sales by 20-fold or more. SIPCA currently has offices in 8 of those 11 countries. (2)

Likewise the Netherlands ranks #20 with consumption of 1,010,000 bbl/day, so it could be said that a contract with any top 20 consumption country could grow GFI's sales by at least 10-fold. SIPCA currently has offices in 7 of those 9 additional countries.

Succinctly, it could be said that there are 20 countries that could grow GFI's business by 10-fold, SIPCA has offices in 15 of those countries.

What does all this mean for the potential royalty flow to EUO?

If one of the top 20 countries could grow GFI's business by 10-fold or more, that means:
10*(H1 annualized total GFI revenue from latest financials = 6, 100, 000) = new total GFI revenue if they signed a top 10 contract, or $61,000,000 in chemical marker sales potential for a top 20 country.


Then if we conservatively double that value to represent the total value to the new GFI under SIPCA, who would also provide the logistics for a fuel marking program, the total contract value for a top 20 country could be $122,000,000 or more.

Then the royalty due EUO is 5%, so $122,000,000 *(5% royalty) = $6,100,000 for just one contract with the smallest (#20) of the top 20 producers...ANNUALLY. Proportionally, a contract with one of the top 11 oil consumers could be double that....or $12,000,000 in ANNUAL royalties for just one of the top 11 countries!

I am heavily weighted in this stock and do believe SIPCA has potential to bring GFI more than one of these game changing contracts with some top 20 oil consuming countries in the wold.

References:
(1) List of Countries by Oil Consumpion: en.wikipedia.org
(2) SIPCA location: sicpa.com

Read more at http://www.stockhouse.com/companies/bullboard/bullboard/v.euo/eurocontrol-technics-group-inc#SjRFfpePX1Rp4T4x.99