Diversified marine transport and offshore services company Petrogress, Inc. (OTC: PGAS), through its Petrogress Co. Limited (“PGL”) subsidiary, this morning announced its entry into a partnership agreement with Platon Gas Oil Ghana Limited (“PGO”) pursuant to which PGL will supply crude oil for storage, refinement, marketing and distribution in Ghana by PGO. “We are excited about our partnership with PGO and believe it is an excellent opportunity for Petrogress to expand its supply operations into Ghana,” Christos P. Traios, CEO of Petrogress, stated in the news release. “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.” Per the update, PGL is expected to deliver 3,000-5,000 metric tons of crude oil on a monthly basis for storage and processing by PGO. Net proceeds from the sale of the products will be split evenly between the two companies.
To view the full press release, visit http://ibn.fm/uVBT6
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About Petrogress, Inc.
Petrogress, Inc. owns and operates a fleet of tankers from its base in the historic Port of Piraeus through a series of Marshall Islands subsidiaries. Its principal and Chief Executive Officer, Christos P. Traios, has over 25 years of experience in operating and managing shipping operations from Greece. Currently, the Company’s ships trade off the coast of West Africa, transporting crude oil, distillates and refined products. The Company also operates service and shipping facilities at the Port of Limassol in Cyprus and the Port of Tema, Greater Accra, in Ghana. It is actively seeking expansion opportunities, including in operating and developing natural gas production and transmission facilities along with LNG processing in the U.S., refinery operations in north and West Africa, and the transport and sales of LNG in Europe. For more information, visit www.PetrogressInc.com
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