World News
Quadrise Signs Deal to Apply Emulsion Fuel Tech to Proprietary Grade of Oil Residue
Quadrise Fuels International (Quadrise) Monday announced the company has signed a Feasibility Study Contract to advance its proprietary upgrading technology for heavy oil products.
Quadrise noted that the contract will utilise the company's MSAR technology, the company's emulsion bunker fuel.
The contract was said to cover pilot-scale testing with extra-heavy hydrocarbon residues at the Quadrise Research Facility, and is aimed at determining whether a stable economic emulsion fuel can be manufactured from a proprietary grade of oil residue.
"This novel upstream opportunity for MSAR based steam production or power generation provides another example of where global corporations value the unique expertise of the Quadrise team," said Ian Williams, Executive Chairman of Quadrise.
Quadrise did not name the client, but said the contract is with a "major global corporation" that is "developing research into proprietary upgrading technologies for the upstream oil sector jointly with a reputable national oil and gas corporation."
The deal was valued at up to £100,000 ($151,000), payable entirely by the client, and will take place as per a defined timetable during the first half of 2016.
In September, Ship & Bunker reported that Quadrise had signed a deal with Spain's Compañía Española de Petróleos, S.A.U. to trial supply emulsion MSAR fuel to Maersk Line ships.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 510.00 | 2.50 | 611.00 | 4.00 |
| Rotterdam | 477.00 | 1.00 | 618.50 | 4.00 |
| Houston | 469.50 | 0.50 | 610.00 | 2.00 |
| Fujairah | 501.50 | 1.50 | 708.50 | 3.50 |
| Global 20 Ports Average | 532.00 | 2.00 | 711.50 | 0.00 |
| Global 4 Ports Average | 489.50 | 0.50 | 637.00 | 0.50 |
| Global Average Bunker Price | 571.00 | 1.00 | 759.00 | 0.50 |
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