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Genoil Inc GNOLF

Energy Oil & Gas Equipment & Services
Genoil Inc. is technology-based company engaged in the development of technologies relating to the oil and gas industry. The Company specializes in heavy-to-light oil technology, oil field development and exploration and production. It is a provider of hydro conversion fixed-bed technology for the upstream and downstream oil and gas industry. It is also working with Chinese policy banks and Chinese companies to provide, project financing, drilling, production, and processing services to the oil and gas industry. Its technology consists of Genoil Hydroconversion Upgrader (GHU), which converts sour (high sulfur), heavy hydrocarbon feed stocks into lighter oil with higher quality distillates for conventional refining. The Company is also engaged in other technologies, such as oil upgrading and recycling, water purification port technologies, well testing, and sand cleaning. The Company markets its technology to customers in the Middle East, Russia and China.


OTCPK:GNOLF - Post by User

Genoil Inc
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Comment by danrouon Jul 27, 2009 5:14pm
336 Views
Post# 16169795

RE: RE: Saudi Arabia heavy oil

RE: RE: Saudi Arabia heavy oilI recomputed some stuff using the most up to date numbers I could find out there (I did that in 2002 when I first invested in GNO :-))...The world uses around 75 million barrels of light oil and 10 million barrels of heavy oil each day. From the proven 400 billion barrels of light oil, 173 billion are located in Saudi Arabia. This country extracts around 2.5 billion barrels / year of light oil. Use your calculator, if they do not ramp up their production in the next few years, we will run out of light oil in less than 10 years...

P.S For the hard numbers, please inbox me.
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