Petrogress, Inc. (OTC PINK: PGAS) (“Petrogress” or the “Company”), a fully integrated oil commodity business that primarily serves West Africa and Mediterranean, has announced that its wholly owned subsidiary, Petronav Carriers LLC. (“PCL”), on February 10th 2021, entered into partnership agreement (PSA) with B&CREW ANCHOR INVESTMENT NIG LTD. (“BCAI”).
The PSA anticipates PCL -through BCAI- to provide maritime service operations and sea transportation of petroleum products to Dangote Oil Refinery around Nigeria, West Africa and Europe, based on a long term Affreightment. The COA consists to the sea-carriage of 600k -plus- barrels of crude oil and refined petroleum products monthly, under PCL’s management tankers fleet. The initial COA will be for three years with an option to prolong for additional two years. BCAI will service as PCL’s representative in Nigeria and shall contribute with their Know-How and skills, while PCL will provide its managed fleet of tankers and its expert personnel on the maritime industry.
“We are excited with our new expansion of our maritime operations activities which strengthening Petronav’s position in the shipping industry, and specifically in the midstream, that is a key segment in the Oil Energy. Despite the adverse environment, we are taken the challenges as opportunities, and keeps expanding our operations into new areas; following our vision to establish, and eventually drive Petrogress stronger in the energy” states Petrogress’ CEO, Christos Traios.
Source: Petrogress
