Welcome to our dedicated page for Genoil news (Ticker: GNOLF), a resource for investors and traders seeking the latest updates and insights on Genoil stock.
Genoil Inc. (GNOLF) generates news primarily around crude oil upgrading technology, syncrude production concepts, and large-scale energy infrastructure proposals. The company’s releases describe its Genoil Upgrading Technology (GHU) process, which it presents as a way to improve crude oil quality, reduce refining residue, and increase liquid fuel yields. Many of its announcements focus on proposed or agreed projects in key oil-producing and transit regions.
News items include agreements to develop greenfield Genoil upgrading refineries and upgraders, such as the planned 200,000 barrel per day facility in the Port of Duqm in the Sultanate of Oman and a super upgrading complex in the Kingdom of Saudi Arabia with a stated capacity of 600,000 barrels per day. These stories detail technology licensing, process design packages, training and advisory roles, and collaboration with Beijing Petrochemical Engineering Company and entities linked to Yanchang Petroleum.
Genoil’s news flow also covers feasibility study milestones, such as the completion of a bankable feasibility study for the Duqm refinery project, as well as consulting contracts with oil field services companies developing large heavy oil fields. In addition, the company has issued releases about proposals to the Russian Government for extensive pipeline and energy infrastructure projects, and about the potential role of Genoil syncrude in addressing major oil supply disruptions.
On this page, readers can review historical and ongoing press releases related to Genoil’s upgrading projects, international agreements, environmental fuel claims, and SEC-related updates. For investors and observers tracking GNOLF, this news feed provides a centralized view of how the company presents its technology, partnerships, and project pipeline over time.
Genoil Inc. (OTC PINK:GNOLF) announces its Upstream Upgrading Crude Production Plant as a potential solution for oil supply disruptions during Middle East conflicts. The plant can replace 25 million barrels per day of crude oil within 60 days, offering better efficiency than strategic petroleum reserves.
The Genoil upgrading plant demonstrates 52% higher efficiency compared to existing refining methods. While traditional refineries yield only 65% liquid fuel from feedstock, Genoil's Syncrude achieves nearly 100% yield with no refining residue, unlike WTI and Brent blends that have 40% residue.
Financial institutions have offered to finance up to $50 billion USD in equity and debt for these projects. The company emphasizes the urgency of implementing this solution as a preventive measure against potential economic disruptions from oil supply interruptions.
Genoil has successfully completed the bankable feasibility study for its planned refinery in Oman. The project, backed by strong local support, will utilize 800 hectares of land and is equipped with agreements for crude feedstock of up to 200,000 barrels per day. It is estimated to create 18,000 jobs in Oman and will be operated by Beijing Petrochemical and Yanchang Petroleum Limited. The refinery will be located in the Special Economic Zone Authority of Duqm, offering a strategic location for exports and various incentives for investment.
Genoil Inc (GNOLF) has signed an agreement to develop a greenfield Genoil Upgrader in Saudi Arabia, capable of processing 600,000 barrels per day. The project, estimated at $5 billion, aims to use Genoil's GHU Technology to produce environmentally friendly syncrude with no refining residue. Beijing Petrochemical Engineering Company will conduct a feasibility study, while the project is expected to create 18,000 jobs locally. Additionally, Genoil has secured a consulting contract in the oil field services sector, generating immediate revenue.
Genoil has proposed a significant energy infrastructure plan to the Russian government to construct pipelines to Asia, potentially supplying 7 million barrels of oil per day to China. This initiative aligns with China’s Belt & Road initiative and aims to mitigate sanctions from the EU and US related to the Ukraine crisis. Additionally, Genoil's Oman project is progressing towards its design phase, expected to comply with IMO 2020 environmental standards. The company is also in discussions regarding a $5 billion upgrading project in Saudi Arabia and the development of the AFB Astrakhan project, which holds vast natural gas and oil reserves.
Genoil Inc. (OTC PINK:GNOLF) has signed an agreement for a $2.4 billion greenfield upgrading refinery project in Duqm, Oman, in partnership with Ras Madrakah Petroleum Industry Company and Beijing Petrochemical Engineering Company. The facility will process 200,000 barrels per day, utilizing Genoil's proprietary GHU technology. Secured agreements include three crude feedstock and three refined product offtake contracts. The project is estimated to create 18,000 jobs and will bolster the local economy. The government supports the venture, with a dedicated site and necessary infrastructure in place.
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