- Negotiated partnerships provide PGAS, through its subsidiaries, with growth in the energy field and expansion into Nigeria and Cypress, Greece
- Physical trading in oil commodities and logistics is the company’s core business; it makes strategic investments, then operates subsidiaries separately as standalone businesses, leveraging transactions with other company sectors and third parties
- Company also owns and operates a fleet of tankers through a series of Marshall Islands-based subsidiaries that provide sea transportation for oil and liquefied natural gas
Petrogress, Inc. (OTC: PGAS) is growing and maximizing shareholder value by negotiating partnerships, such as those in Nigeria and Cypress (Greece), while also planning for expansion in its tanker business and oil commodities and liquefied natural gas sea transportation (http://ibn.fm/8qfQG).
Most recently, the company’s subsidiary, Petrogress Int’l LLC (“PIL”), entered into a partnership agreement with A&E Petroleum Co. to jointly form and operate a corporation to be named P&A Nigeria Oil Co. Limited (“PANOC”). The combined company’s stated goal is to engage in oil and gas opportunities in Nigeria while also operating storage tank facilities, providing sea transportation and distribution, and facilitating the sale of gas, oil and other petroleum products (http://ibn.fm/5Z6G4).
In a news release, Christos P. Traios, CEO of Petrogress, said, “Our companies’ combined facilities, assets and services are not only expected to provide for enhanced revenue streams, but also ensure our future in this important international market.”
PGAS is a New York-based, fully integrated oil and natural gas energy company with offices in Piraeus, Greece, and Tema, Ghana. PGAS holds subsidiaries, including Petrogress Co. Limited, Patronav Carriers LLC, and Petrogress Oil & Gas Energy Inc. Petrogress’ vision is to be a vertically-integrated energy company. To achieve a more focused approach in management and enable these subsidiaries to pursue individual growth strategies, the company is separating its shipping business and petroleum sales.
The company is also divided into distinct groups. Its upstream group consists of oil resources and exploration. The midstream group represents its product fleet carriers. Its downstream group features its refinery and finished products. Finally, its liquefied group hosts its liquefied natural gas (LNG) sea transportation operations.
For more information, visit the company’s website at www.PetrogressInc.com
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