Marine fuel emulsification technology firm Quadrise Fuels International (QFI) on Wednesday signed a Memorandum of Understanding (MOU) and MSAR® Pilot Test Programme (MTP) with a European multinational integrated oil and gas company (the major).
Further to the MOU, Quadrise and the major intend to work together to discuss, promote and develop specific business development opportunities to identify potential MSAR® clients for one of the major's European refineries
They will focus on a high level MSAR® fuel market assessment for the major’s refinery and pursue a feasibility study agreement from a potential MSAR® fuel client for the consumption of MSAR® produced at the refinery during 2019.
Under the MTP, Quadrise will be undertaking testing of specific refinery residues for the major at the Quadrise Research Facility during early 2019 on a paid basis to demonstrate and optimise the blending of refinery residues to MSAR® fuel.
“We are delighted to have developed our relationship with a European multinational integrated oil and gas company and are confident that with the combination of Quadrise's MSAR® technology and fuel experience, and the client's world-leading downstream operations, trading and logistics capabilities, we will be able to successfully define and progress this potential MSAR® supply project jointly,” said Mike Kirk, Executive Chairman of QFI.
Related: Quadrise fuel emulsification projects suffer $4.32 million loss
Related: Quadrise: Economics for MSAR projects to improve with IMO 2020
Related: Quadrise: Marine fuel emulsification markets ‘positive’
Related: Quadrise emulsified fuel oil project suffers setback
Photo credit: Quadrise Fuels International
Published: 29 November, 2018
The bunker player at Hong Kong and Chinese ports shares with Manifold Times what local shipping sectors went through during the early days of COVID-19 and how business is resuming.
April bunker sales results released on Wednesday caught several players, who expected volume to fall due to lower international trade and COVID-19, by surprise.
‘OTPL has a strong group of employees who have the requisite expertise and experience in ship chartering and management, which has commercial value and should be kept intact.’
Company believes market and business partners ‘likely to have greater confidence and comfort in continuing business dealings’ if placed under judicial management, says Director.
Panellists covered several marine fuel related topics including bunker fuel quality testing, COVID-2019, and long term storage of VLSFOs experienced during the first 100-day period.
Latest development alleges Chua Chin Lan facing total debt of approximately USD 5 million due to personal guarantees undertaken with Innovek and Global Energy Trading.