Genoil Inc. (GNOLF)

[DTCT]

To the best of my knowledge this project has not really started yet. Hebei Zhongie did spend considerable money clearing and preparing the land where the refinery was to be built but the project has been stalled ever since. A few reasons have been floated around: still awaiting financing approval, renegotiating contract terms, waiting on regulatory approval...etc - but the bottom line is no progress at this point. One is forced to question the fact that if the Russian and Saudi (and maybe Mexico?) projects actually happen then is this project actually necessary? If all of China's imported oil is already upgraded then the need for upgraders in China seems mostly redundant. Just my opinion though.