Monday, February 26, 2018

Petrogress, Inc. (PGAS) Continues Global Expansion in Nigeria

  • Petrogress announced further expansion of global footprint in deal with A&E Petroleum
  • Positions company as prime player in world’s sixth-largest oil market
  • Further worldwide expansion expected
Establishing itself as an integral player in the worldwide distribution of oil products, diversified marine transport and offshore services company Petrogress, Inc. (OTC: PGAS) has just taken another significant step in its aggressive global expansion.
In a press release dated February 13, 2018 (http://nnw.fm/XDAf2), Petrogress announced the further expansion of its global footprint by striking deals with Nigeria-based A&E Petroleum Co. Limited. The partnership with A&E Petroleum expands the company’s operations into Nigeria, generating enhanced revenue opportunity and strengthening the company’s international reach. The Memorandum of Understanding and Partnership Agreement with A&E Petroleum, which were inked by Petrogress subsidiary Petrogress Int’l, LLC, will jointly form a corporation to be named P&A Nigeria Oil Co. Ltd. (“PANOC”) to engage in various oil and gas business opportunities in Nigeria, including the operation of storage tank facilities and the supply, sea transportation, distribution and sale of gas, oil and other petroleum products, including crude oil originated in Nigeria.
This is significant, since Nigeria is Africa’s largest producer of oil and the sixth-largest oil-producing country in the world.
In a news release, Petrogress Chief Executive Officer Christos P. Traios stated, “Our partnership with A&E Petroleum is an excellent opportunity for Petrogress to expand its operations into and serve the Nigerian market. Our companies’ combined facilities, assets and services are not only expected to provide for enhanced revenue streams, but also ensure our future in this important international market.”
Following the company’s global expansion strategy, this news comes on the heels of another partnership announced in December that expands operations in Cyprus. Based in Greece, Petrogress, Inc. owns and operates an expanding fleet of tankers that transport crude oil, distillates and refined products off the coast of Africa, as well as operating service and shipping facilities in Cyprus. The deal with A&E Petroleum in Nigeria dovetails nicely with the company’s current operations and is expected to positively impact both the top and bottom line.
With over 25 years of senior management experience operating and managing shipping operations and an aggressive expansion agenda, Petrogress is fast becoming a force in delivering oil products and may well provide investors a unique global opportunity.
For more information, visit the company’s website at www.PetrogressInc.com
More from NetworkNewsWire
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

No comments:

Post a Comment