Petroleum Africa
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Sunday, March 25, 2018
Petrogress, Inc.’ s subsidiary, Petrogress Co. Ltd. (PGL), entered into a partnership agreement with Platon Gas Oil Ghana Ltd. (PGO), a limited liability company incorporated in Ghana, pursuant to which PGL will supply crude oil for storage, refinement, marketing and distribution in Ghana by PGO.
Under the agreement, PGL is expected to deliver 3,000-5,000 metric tons of crude oil on a monthly basis for storage and processing by PGO into various petroleum products, including crude oil, blend stocks, cutter stock and other feedstock.
PGO will also be expected to market and distribute the refined petroleum products. Net profits from the sale of the petroleum products will be split evenly between PGL and 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. 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,” stated Petrogress CEO Christos P. Traios.
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