Petrogress (OTC: PGAS) this morning announced that its subsidiary, Petrogress Co., Ltd. (“PGL”), has entered into a Partnership Agreement with Platon Gas Oil Ghana. Per the update, PGL anticipates monthly delivery of 3,000-5,000 metric tons of crude oil to Platon’s facilities for storage and processing into diverse petroleum products. Petrogress will contribute to refinery expansion plans and, together with Platon, will market and distribute the refined petroleum products in Ghana and bordering countries. “We are excited about our partnership with Platon and believe it is an excellent opportunity for Petrogress to not only expand its West Africa supply operations but also to join with a strong, experienced refinery partner. The needs and demand for refined petroleum products in Ghana and neighboring countries already exceeds local capacity and grows consistently. Our companies’ combined facilities, assets and services are not only expected to provide for enhanced revenue streams, but also strengthen our footprint in West Africa,” Petrogress Principal and CEO Christos Traios stated in the news release.
To view the full press release, visit http://ibn.fm/r1JC7
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About Petrogress, Inc.
Petrogress, Inc. (OTC: PGAS) is a fully-integrated oil and gas company based in New York City. It trades, ships and refines crude oil in West Africa and the eastern Mediterranean, and is a global merchant of petroleum products The company operates chiefly as a holding company for its operating subsidiaries: Petrogres Co. Limited and Petronav Carriers LLC, which own and operate its tanker fleet; Petrogress Oil & Gas Energy, Inc., an oil and gas production company; and Petrogress Int’l, LLC, the owner and manager of Petrogres Africa Co. Limited, which operates service and shipping facilities at the Port of Tema, Greater Accra, in Ghana, and PG Cypyard & Offshore Terminal Services Ltd., which operates similar facilities at Limassol, in Cyprus. Petrogress connects producers and end-users of commodities, concentrating on the supply and trade of light petroleum fuel oil (LPFO), refined oil products, and other petrochemical products to local refineries, employing its market knowledge, logistics, and infrastructure to move physical commodities from places of abundance to where they are in demand. For more information, visit www.PetrogressInc.com.
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