New York-headquartered Genoil has signed a tripartite scientific research and technical cooperation agreement with UFA Scientific Research Institute of Petroleum Refining and Petrochemistry (UFA) and OJS «VNIIUS» Institute.
The scope of the agreement is to research, develop and market cutting-edge technologies and patents globally.
In particular, the desulphurisation project will seek solutions for complex oil and gas refining, upgrading of petroleum for transportation and processing including removal of sulphur components, catalytic processes of fuel production, processing of hydrogen sulfide into elemental sulphur, and the procurement, construction and start-up of projects.
Genoil said the partnership has already received high-sulphur fuel oil from a shipping client and tests have begun at UFA.
Bruce Abbott, coo of Genoil, commented: “All three parties are leaders in their respective fields of engineering technology and R&D, and our combined expertise will allow us to bring to market new innovations and technologies to further transform an industry experiencing significant change.”
Genoil will utilise its advanced sulphur removal GHU technology, which converts heavy or sour crude oil into low-sulphur oil at a low cost.
At present, ships are required to burn bunker fuel with a maximum sulphur content of 3.5%. The global sulphur limit will be slashed to 0.5% from 2020 under IMO Marpol Annex VI regulation.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
