Petrogress, Inc. (PGAS)

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Petrogress, Inc. (PGAS)

Postby QualityStocks » Fri Dec 01, 2017 8:07 am

Petrogress, Inc., founded in 2009, owns and operates a fleet of tankers from its base in the historic Port of Piraeus, Greece, through a series of Marshall Islands subsidiaries. The company is an international merchant of petroleum products which includes reliably marketing and trading crude oil, distillates, and refined products off the coast of West Africa. The company also operates service and shipping facilities at the Port of Limassol in Cyprus and the Port of Tema, Greater Accra, in Ghana. It is actively seeking expansion opportunities, including in operating and developing natural gas production and transmission facilities along with LNG processing in the U.S., refinery operations in north and west Africa, and the transport and sales of LNG in Europe.

Petrogress has created a diversified revenue stream, giving it a significant advantage over similar companies working in the oil and gas shipping arena. A case in point is the recent formation of “PG Cypyard & Offshore Service Terminal Ltd. (“Cypyard”), through the company’s wholly owned subsidiary, Petrogress Int’l, LLC. Cypyard is concluding negotiations for an operations and management agreement covering ports in Hellenic Cyprus, including the Port of Limassol, directly with the Cyprus Ports Authority. Current plans include a long-term lease with renewal options covering all in-place port facilities, including floating dock and dry dock areas, with cranes and scaffolding, construction and repair workshops and storage, and complete on-site administrative and office space.

“I think the opportunities there are great, and dealing directly with partners in government has numerous benefits,” said Christos P. Traios, president of Petrogress Inc. in a news release announcing the venture. The recent appointment of two industry experts to the Petrogress Advisory Board is expected to help the company capitalize on future growth opportunities while simultaneously developing a comprehensive U.S. and international lobbying and government outreach program to facilitate business plans in the U.S., European Union and Africa.

Additional Petrogress Inc. subsidiaries are:

- Petrogress Co. Ltd., an international merchant of petroleum products that combines regional market knowledge with over 20 years of excellent shipping experience.
- Petronave Carriers LLC, which manages an in-house fleet of crude oil carriers and trades them in West Africa, a country known as a difficult area for navigation and trade.
- Petrogress Oil & Gas Energy Inc., which has expansion plans through a supply of liquified natural gas located in the oil fields of Texas with an eye toward exporting LNG to Mediterranean markets.

Petrogress continues to “adjust its sails” in order to meet new challenges. Opportunities include upstream oil resources and exploration, the addition of more product fleet carriers, downstream movement of petroleum products from refineries to finished sales, and sea transportation of liquified natural gas. A closely followed economist, Jim O’Neill, states that oil prices could spike more than 25% in the next year. O’Neill, now an economics professor at the University of Manchester, says the market is finally waking up to the fact that global economic growth is gaining momentum and likely expanding at 4 percent or higher. That means there will be more demand for oil, the article states, which translates into brighter days ahead for companies like Petrogress.
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Re: Petrogress, Inc. (PGAS)

Postby QualityStocks » Fri Dec 01, 2017 6:56 pm

Petrogress, Inc. (PGAS) is “One to Watch”

- Owns and operates fleet of tankers moving crude oil, distillates, and refined products
- Profitability increased to 13.14% from prior year’s 3.82%
- Robust global economic growth shoring up crude oil and gas prices
- Plans include moving deeper into growing markets of West Africa, purchase of additional tanker vessels

Petrogress, Inc. (OTC: PGAS), founded in 2009, owns and operates a fleet of tankers from its base in the historic Port of Piraeus, Greece, through a series of Marshall Islands subsidiaries. The company is an international merchant of petroleum products which includes reliably marketing and trading crude oil, distillates, and refined products off the coast of West Africa. The company also operates service and shipping facilities at the Port of Limassol in Cyprus and the Port of Tema, Greater Accra, in Ghana. It is actively seeking expansion opportunities, including in operating and developing natural gas production and transmission facilities along with LNG processing in the U.S., refinery operations in north and west Africa, and the transport and sales of LNG in Europe.

Petrogress has created a diversified revenue stream, giving it a significant advantage over similar companies working in the oil and gas shipping arena. A case in point is the recent formation of “PG Cypyard & Offshore Service Terminal Ltd. (“Cypyard”), through the company’s wholly owned subsidiary, Petrogress Int’l, LLC. Cypyard is concluding negotiations for an operations and management agreement covering ports in Hellenic Cyprus, including the Port of Limassol, directly with the Cyprus Ports Authority. Current plans include a long-term lease with renewal options covering all in-place port facilities, including floating dock and dry dock areas, with cranes and scaffolding, construction and repair workshops and storage, and complete on-site administrative and office space.

“I think the opportunities there are great, and dealing directly with partners in government has numerous benefits,” said Christos P. Traios, president of Petrogress Inc. in a news release announcing the venture. The recent appointment of two industry experts to the Petrogress Advisory Board is expected to help the company capitalize on future growth opportunities while simultaneously developing a comprehensive U.S. and international lobbying and government outreach program to facilitate business plans in the U.S., European Union and Africa.

Additional Petrogress Inc. subsidiaries are:

Petrogress Co. Ltd., an international merchant of petroleum products that combines regional market knowledge with over 20 years of excellent shipping experience.
Petronave Carriers LLC, which manages an in-house fleet of crude oil carriers and trades them in West Africa, a country known as a difficult area for navigation and trade.
Petrogress Oil & Gas Energy Inc., which has expansion plans through a supply of liquified natural gas located in the oil fields of Texas with an eye toward exporting LNG to Mediterranean markets.
Petrogress continues to “adjust its sails” in order to meet new challenges. Opportunities include upstream oil resources and exploration, the addition of more product fleet carriers, downstream movement of petroleum products from refineries to finished sales, and sea transportation of liquified natural gas. A closely followed economist, Jim O’Neill, states that oil prices could spike more than 25% in the next year. O’Neill, now an economics professor at the University of Manchester, says the market is finally waking up to the fact that global economic growth is gaining momentum and likely expanding at 4 percent or higher. That means there will be more demand for oil, the article states, which translates into brighter days ahead for companies like Petrogress.

For more information, visit the company’s website at www.PetrogressInc.com
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Re: Petrogress, Inc. (PGAS)

Postby QualityStocks » Mon Dec 04, 2017 5:36 pm

NetworkNewsBreaks – Petrogress, Inc. (PGAS) Further Diversifies Revenue Stream with New Venture

Petrogress, Inc. (OTC: PGAS) has created a diversified revenue stream, giving it a significant advantage over similar companies working in the oil and gas shipping arena. A recent article discusses a recent venture and the formation of “PG Cypyard & Offshore Service Terminal Ltd. (“Cypyard”), through the company’s wholly owned subsidiary, Petrogress Int'l, LLC. The article states, “Cypyard is concluding negotiations for an operations and management agreement covering ports in Hellenic Cyprus, including the Port of Limassol, directly with the Cyprus Ports Authority. Current plans include a long-term lease with renewal options covering all in-place port facilities, including floating dock and dry dock areas, with cranes and scaffolding, construction and repair workshops and storage, and complete on-site administrative and office space.”
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Re: Petrogress, Inc. (PGAS)

Postby QualityStocks » Mon Dec 18, 2017 5:22 pm

Petrogress, Inc. (PGAS) Weathers Stormy Seas of Oil Shipping Markets

- Assets grew in first three quarters despite slump in oil sales
- Reported record EBITDA growth during the year
- Agreement in Cyprus positions company at crossroads of Middle East-to-Europe shipping

As the economies of some African nations show signs of new growth resulting from the ongoing production of their oil resources (http://nnw.fm/5eH5O), Petrogress, Inc. (OTC: PGAS) is building on its years of networking with trading partners along the continent’s west coast and in the Mediterranean region while it expands its operations into Europe and the U.S. to create a diversified revenue stream in the oil and gas shipping industries.

Petrogress, Inc. began 2017 with a vision of increasing monthly deliveries of crude oil through the purchase of additional tankers to complement its fleet of five transports from Greece to western Africa, as well as the completion of oil exploration and refinery negotiations in Ghana. At the end of the third quarter, the company reported that it was negotiating the purchase of two Aframaxes tankers and a 55 percent interest in a shuttle tanker. Despite a recent slump in African crude oil sales (http://nnw.fm/1kFgc) and the comparable effect on the company’s sales volume revenues and gross profits, Petrogress reported a rise in profitability from 3.82 percent to 13.14 percent with a record adjusted report of earnings before interest, taxation, depreciation and amortization (EBITDA) of just over $2 million at nine months’ end. Total assets grew during the period from $9.79 million to $14.03 million.

“We are generating strong operational and financial results in spite to the adverse oil market pricing… We are seeing strong indications of continued growth and remain confident in our ability to drive profitability and increase volumes across our platform to deliver enhanced shareholders value,” Petrogress President and CEO Christos P. Traios stated in reporting the results (http://nnw.fm/O9lWu).

“We put several pieces into place preparing for activities planned over the next several quarters,” Traios added in November when the quarterly Form 10-Q was filed. “We’ve pre-paid anticipated expenses and pre-positioned personnel and assets that we’ll use over the next six to twelve months building our business in Cypriot ports, pursuing important, government-sponsored joint ventures in Libya, and finalizing our offshore production and lease arrangements in Ghana.”

The formation in early November of PG Cypyard & Offshore Service Terminal Ltd. (“Cypyard”) through Petrogress’s wholly owned subsidiary Petrogress Int’l, LLC, provided the company with the means to conclude negotiations with the Cyprus Ports Authority for an operations and management pact in Hellenic Cyprus that includes a long-term lease with renewal options covering all in-place port facilities, such as floating dock and dry dock areas with cranes and scaffolding, construction and repair workshops and storage and the necessary on-site administrative office space.

Traios characterized existing facilities in the Port of Limassol as “in fairly good shape” and ready to operate with a minimal investment of time and money (http://nnw.fm/PDw0I). Cyprus and its confirmed energy reserves are located at the crossroads of sea lanes and potential pipeline routes linking Europe and the Middle East.

Petrogress, like other corporations in the oft-volatile energy industry, continues to make adjustments to its operations to accommodate changes in the world’s political and economic landscapes. Economic analysts predict that the price of oil will continue to rise in the coming years (http://nnw.fm/MX8Bj), and the recent appointment of two industry experts to the Petrogress advisory board is expected to help the company capitalize on growth opportunities as it develops a comprehensive lobbying and government outreach program to further its business plans in the United States, European Union and African continent.

For more information, visit the company’s website at www.PetrogressInc.com
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Re: Petrogress, Inc. (PGAS)

Postby QualityStocks » Tue Dec 19, 2017 6:28 pm

NetworkNewsBreaks – Petrogress, Inc. (PGAS) Subsidiary Enters Joint Venture MOU with EDT Agency Services

Diversified marine transport and offshore services company Petrogress, Inc. (OTC: PGAS), through subsidiary Petrogress Int’l, LLC (“PIL”), this morning announced its entry into a Memorandum of Understanding (“MOU”) with EDT Agency Services, Ltd. to combine the companies’ operations at the Port of Limassol, as well as future developments at Vassiliko Energy Port, where the Cyprus Port Authority has announced plans for the construction of a $300 million industrial and energy harbor. Per the update, the MOU calls for a 50/50 partnership between EDT and PIL, operating under PIL’s PG Cypyard & Offshore Terminal Services Ltd., with the goal of providing support services for supply vessels and offshore exploration and production platforms. “Our joint venture with EDT Offshore greatly expands the scope of PGC’s Port of Limassol operations,” Christos P. Traios, CEO of Petrogress, stated in the news release. “Joining our port facilities will allow us to serve the E&P needs of major international oil companies in the Cyprus EEZ. Our companies’ combined port operations and services business not only provide for enhanced revenue streams, but also ensure our future in this important international market, both in Limassol and Vassiliko.”
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Re: Petrogress, Inc. (PGAS)

Postby QualityStocks » Thu Dec 28, 2017 5:29 pm

Petrogress, Inc. (PGAS) is Strengthening Port Operations in Cyprus

- MOU to undertake joint venture in Cyprus port operations
- Set to enter upstream business by operating oil platform
- Gaining eligibility to bid for Ghanaian government contracts

A recent announcement (http://nnw.fm/kp3Rg), which also appeared in the Greek media, shows that Petrogress, Inc. (OTC: PGAS) is doubling down in Cyprus. Through subsidiary Petrogress Int’l, LLC (“PIL”), the company has entered into a Memorandum of Understanding (MOU) with EDT Agency Services, Ltd., under which the two companies intend to combine operations at the Port of Limassol. The collaboration also extends to future developments at Vassiliko Energy Port, where the Cyprus Port Authority has announced plans for the construction of a $300 million industrial and energy harbor. The MOU calls for a 50/50 partnership between EDT and PIL, operating under PIL’s PG Cypyard & Offshore Terminal Services unit. The joint venture will provide support services to supply vessels and offshore exploration and production platforms and will help PGAS serve the E&P needs of major international oil companies in the Cyprus Exclusive Economic Zone (EEZ). The partnership is expected to not only boost PGAS’s revenues, but the company’s profile in Limassol and Vassiliko.

EDT provides services to oil and gas exploration and production companies worldwide, and it operates its fleet of specialized support vessels from facilities in Cyprus and Egypt. In 2013, the company established facilities at Limassol to support Houston, Texas-based Noble Energy, Inc.’s Aphrodite and Leviathan Field operations in the Cyprus Exclusive Economic Zone. Its facilities now include a mud plant, heliport services and shore base support for vessels conducting survey, diving, salvage and ROV operations in the Cyprus EEZ and Eastern Mediterranean.

In addition to these developments, Petrogress, Inc. is expanding its footprint in the oil and gas business with ambitious plans in Ghana. Late last year, the company announced that it had acquired 90 percent of the shares of Petrogres Africa Co., Ltd. (“PAF”) through PIL (http://nnw.fm/8NHx9). The remaining 10 percent is privately held by Ghanaian investors. This acquisition creates a wealth of opportunity for PGAS, since, through PAF, the company will be eligible to bid on local Ghanaian government contracts. The PAF deal also goes some way toward turning Petrogress into a vertically integrated petroleum company. PGAS is already heavily involved in the midstream sector. The company, founded in 2009, transports petroleum products with a fleet of tankers based at the historic Port of Piraeus, Greece. It also internationally markets crude oil, distillates and refined products, and it operates service and shipping facilities at the Port of Limassol in Cyprus and the Port of Tema, Greater Accra, in Ghana.

PAF’s value stems from its ability, through Ghanaian government authority, to locally market oil products and conduct shipping business from the Port of Tema. Having access to port facilities in Tema will provide a service and operations hub for PGAS’s tankers currently involved in Nigerian oil trading and transport. The port will also serve as a secondary hub for repair, supply and transport ship operators servicing Ghana’s Tano Basin offshore oil fields in the Gulf of Guinea. Moreover, PAF expects to bid for operating contracts on the currently shut-in APG-1 production platform in the Saltpond Oil Field, which is located in shallow waters approximately eight miles offshore and 65 miles west of Accra. A shut-in platform is one whose output capacity has been set lower than is possible, perhaps for safety reasons.

The project is owned by the Ghana National Oil Company, which is expected to let out its operation by the end of 2017. Preliminary bid terms will require the successful applicant to make repairs on the production platform and work over the six existing wells to boost production from current levels of 300-500 barrels per day (bpd) and will also grant access for exploration and production (E&P) development on up to 10 additional offshore blocks. Current reserve estimates for Saltpond range down to 4.2 million barrels of oil and 20 billion cubic feet of gas recoverable. Unproven reserves on the studied portions of the additional blocks, however, are as high as 44 billion barrels of oil equivalent.

The APG-1 platform, nicknamed “Mr. Louie”, has an interesting history. Dating from the late 1950s, it became the first self-elevating drilling barge classed by the American Bureau of Shipping. It has been employed in the Gulf of Mexico and in the North Sea and has been in West Africa since the late 1970s. After drilling six appraisal wells at the Saltpond Oil Field in offshore Ghana, Mr. Louie was converted into an oil platform at Saltpond in 1978 and renamed, rather more impersonally, as APG-1.

PGAS is also actively seeking opportunities in operating and developing natural gas production and transmission facilities along with LNG processing in the U.S., as well as refinery operations in north and West Africa, and the transport and sales of LNG in Europe.

For more information, visit the company’s website at www.PetrogressInc.com
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Re: Petrogress, Inc. (PGAS)

Postby QualityStocks » Thu Dec 28, 2017 5:59 pm

NetworkNewsBreaks – Petrogress, Inc. (PGAS) Finds New Life in Oil Shipping Markets

Petrogress, Inc. (OTC: PGAS) continues to build a diversified revenue stream through its oil and gas shipping networks as it expands its operations along Africa’s west coast, in the Mediterranean region, Europe and the United States. The company is working to purchase more tankers, complete exploration and refinery talks in Ghana, and finalize negotiations on an operations and management pact in Hellenic Cyprus. An article discussing this reads: “Despite a recent slump in African crude oil sales (http://nnw.fm/1kFgc) and the comparable effect on the company’s sales volume revenues and gross profits, Petrogress reported a rise in profitability from 3.82 percent to 13.14 percent with a record adjusted report of earnings before interest, taxation, depreciation and amortization (EBITDA) of just over $2 million at nine months’ end. Total assets grew during the period from $9.79 million to $14.03 million. ‘We are generating strong operational and financial results in spite to the adverse oil market pricing,’ … Petrogress President and CEO Christos P. Traios stated.”
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Re: Petrogress, Inc. (PGAS)

Postby QualityStocks » Fri Dec 29, 2017 4:33 pm

Petrogress, Inc. (PGAS) Sees Opportunities for Energy Expansion, Focusing on Ghana, Cypress and Libya

- For the three months ended September 30, 2017, PGAS reported a profit, greater prepaid expenses and some $3 million added to its assets and shareholder value of the company
- Jim Jimerson, consultant, says in audio interview that PGAS is eyeing more tanker acquisitions and working on worldwide financing, including from the World Bank, for its growth plans
- Diverse revenue stream from oil and gas energy shipping, sales of finished products, a larger tanker fleet and growth through joint ventures

Petrogress, Inc. (OTC: PGAS) sees growth opportunities worldwide for 2018, as this integrated energy company seeks a larger tanker fleet and growth in Ghana, Libya and Cypress. Jim Jimerson, who handles corporate affairs for Petrogress in the U.S., said in an audio interview that the firm, in 2016, consolidated its operations, going public through a reverse merger (http://nnw.fm/zLD94). In 2017, it began to show growth through acquisitions and joint ventures internationally. Now, for 2018, it hopes to attract major players as it further expands its production and shipping services.

Jimerson noted that PGAS is focused in 2018 on three priorities. First, the company wishes to consummate a contract in Ghana to give it more growth opportunities. Second, it sees exceptional opportunities for business initiatives to get in on the ground floor in Libya, a location Jimerson describes as being in PGAS’s “wheelhouse” in North Africa. Finally, PGAS is seeking to acquire two more tankers at a discount from Dubai sources, growing its fleet from four to six. This would enable the company to trade through the Suez Canal, boosting its business.

To achieve all that, Jimerson said, the firm is working with U.S. and international finance partners, including the World Bank. In its 3Q2017 SEC 10-Q filing, it reported a profit, adding some $3 million to its book value assets, and increased prepayment on expenses (http://nnw.fm/vU124).

PGAS is a New York-based, fully-integrated oil and natural gas energy company with offices in Piraeus, Greece, and Tema, Ghana (located on the west coast of Africa), that manage its operations. PGAS holds various subsidiaries throughout the world. It has a vision of becoming a vertically-integrated energy company. It is segregating its shipping business and petroleum sales into separate companies, which is expected to result in a more focused approach to assist the entities as they pursue individual growth strategies.

The end-goal is to maximize shareholder value. PGAS is divided into four distinct groups: upstream, which consists of oil resources and explosion; midstream, its product fleet carriers; downstream, its refinery and finished product sales; and liquefied, its liquefied natural gas (LNG) sea transportation.

Most recently, PGAS has been expanding its operations to become a greater factor in the oil business and throughout its supply chain. To that end, it has been negotiating partnerships — such as its December 19, 2017, announcement of an MOU signed by its Delaware-based subsidiary, Petrogress Intl. LLC (“PIL”), and EDT Agency Services, Ltd. (EDT Offshore) to combine their operations in certain ports (http://nnw.fm/6U31a). EDT provides services to oil and gas exploration and production companies globally and operates a fleet of specialized support vessels from numerous facilities. The MOU anticipates a 50-50 partnership between PIL and EDT for certain joint operations.

For more information, visit the company’s website at www.PetrogressInc.com
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Re: Petrogress, Inc. (PGAS)

Postby QualityStocks » Wed Jan 03, 2018 6:59 pm

NetworkNewsBreaks – Petrogress, Inc. (PGAS) Deepens Port Operations in Cyprus through Joint Venture MOU

Diversified marine transport and offshore services company Petrogress (OTC: PGAS) is strengthening its port operations in Cyprus through its subsidiary Petrogress Int’l, LLC. An article discussing this reads: “Through subsidiary Petrogress Int’l, LLC (“PIL”), the company has entered into a Memorandum of Understanding (“MOU”) with EDT Agency Services, Ltd., under which the two companies intend to combine operations at the Port of Limassol. The collaboration also extends to future developments at Vassiliko Energy Port, where the Cyprus Port Authority has announced plans for the construction of a $300 million industrial and energy harbor. The MOU calls for a 50/50 partnership between EDT and PIL, operating under PIL’s PG Cypyard & Offshore Terminal Services unit. The joint venture will provide support services to supply vessels and offshore exploration and production platforms and will help PGAS serve the E&P needs of major international oil companies in the Cyprus Exclusive Economic Zone (EEZ). The partnership is expected to not only boost PGAS’s revenues, but the company’s profile in Limassol and Vassiliko.”
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Re: Petrogress, Inc. (PGAS)

Postby QualityStocks » Mon Jan 08, 2018 6:00 pm

Petrogress, Inc. (PGAS) Strategy Prepares Company to Greet Possible Oil Industry Recovery

- Oil industry services company added millions to its value in 2017 amid expansion effort
- Petrogress, Inc. leadership maintained profitability amid down-revenue period
- Trade partnerships position company to work with major industry players on key shipping routes

News that the oil and gas industry may be entering an extended recovery period following years characterized by decreased prices, a lack of investor confidence and a number of bankruptcies is only adding to the optimism of survivors like Petrogress, Inc. (OTC: PGAS), which capitalized on sound management practices to report a significant rise in profitability during last year’s third quarter and a record adjusted report of earnings despite a slump in the company’s sales volume.

In a news release, PGAS CEO Christos P. Traios stated, “The fact that revenues were down didn’t impact the fact that we still ended up showing a profit… We are stockpiling cash and prepaying expenses and also reflecting the acquisition of our assets in Ghana and Cyprus. We added $3 million-plus to shareholder value, to the book value of the company.”

Petrogress has been building its portfolio, pursuing the acquisition of two Aframax tankers in Dubai that will help the company trade through the Suez Canal as it seeks to further shore up its foothold in North Africa and the Mediterranean. The company is also working with trading partners in Libya and Ghana to advance its refining, production, and other oil and gas-related businesses. Negotiations for an interest in existing facilities at Cyprus’s Port of Limassol give Petrogress critical access to crossroad routes that it needs for providing shipping services and, according to CEO Traios, “exposure to large international oil and gas concerns that are working in the oil fields off the coast of Lebanon and Israel.”

The company’s aim is that the opportunity to forge ties with companies working in the large, long-producing fields in the Middle East will provide it with critical networking resources, as well as profits from the services it provides. A partnership with EDT Offshore, announced last month, expands those opportunities.

In Ghana, a Petrogress African subsidiary is working to secure government contracts, hopeful that company tankers involved in the Nigerian oil trade will be able to operate from a hub port in the Accra area and bid for operations at the currently profitable APG-1 production platform some eight miles offshore. APG-1 will require some platform repairs but provides the potential opportunity to profit not only from the 300 to 500 barrels that can produced daily there, but also from eight other offshore lease blocks, where an estimated 44 billion barrels of oil are believed to be available.

“While that’s clearly a project that would far outpace our current ability to finance, we think the ability to attract major players to participate with them in operations is going to provide some excellent, excellent opportunities for 2018,” Traios said.

The company’s last quarterly report stated that total assets grew during the period from $9.79 million to $14.03 million during the first nine months of 2017.

For more information, visit the company’s website at www.PetrogressInc.com
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Re: Petrogress, Inc. (PGAS)

Postby QualityStocks » Wed Jan 10, 2018 6:53 pm

NetworkNewsBreaks – Petrogress, Inc. (PGAS) Highlights Three Areas of Focus to Increase Growth in 2018

Diversified marine transport and offshore services company Petrogress (OTC: PGAS) sees 2018 as a year for growth in Ghana, Libya and Cypress. Jim Jimerson, who handles corporate affairs for the company, recently highlighted the company’s priorities for the year. An article discussing this reads: “Jimerson noted that PGAS is focused in 2018 on three priorities. First, the company wishes to consummate a contract in Ghana to give it more growth opportunities. Second, it sees exceptional opportunities for business initiatives to get in on the ground floor in Libya, a location Jimerson describes as being in PGAS’s “wheelhouse” in North Africa. Finally, PGAS is seeking to acquire two more tankers at a discount from Dubai sources, growing its fleet from four to six. This would enable the company to trade through the Suez Canal, boosting its business.”
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Re: Petrogress, Inc. (PGAS)

Postby QualityStocks » Fri Jan 19, 2018 7:13 pm

NetworkNewsBreaks – Petrogress, Inc. (PGAS) Effective Leadership Maintains Viability through Industry Highs and Lows

Marine transport and offshore services company Petrogress (OTC: PGAS) has shaped a diversified revenue stream, giving it a substantial lead over comparable companies working in the oil and gas shipping market. An article discussing the company’s winning strategy reads: “News that the oil and gas industry may be entering an extended recovery period following years characterized by decreased prices, a lack of investor confidence and a number of bankruptcies is only adding to the optimism of survivors like Petrogress, Inc. (OTC: PGAS), which capitalized on sound management practices to report a significant rise in profitability during last year’s third quarter and a record adjusted report of earnings despite a slump in the company’s sales volume.”
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Re: Petrogress, Inc. (PGAS)

Postby QualityStocks » Tue Jan 30, 2018 5:04 pm

Petrogress, Inc. (PGAS) Continues Sailing on the Sea of Oil to Success

- Vertical integration strategy paying off
- Successful oil trader
- Expertise in shipping petroleum products

Oil continues to be the world’s leading fuel, according to experts, accounting for about one-third of global energy consumption (http://nnw.fm/s69cP). Fifteen years of decline – from 1994 to 2014 – have not been enough to knock petroleum off that perch, and, in 2015 and 2016, its global market share actually rose. Despite the environmental concerns that surround its use, oil is going to be around for a while. The management team of Petrogress, Inc. (OTC: PGAS) knows that. The company has been operating in the oil and gas industry since 2009. Led by CEO Christos Traois, who has over 25 years’ experience in the maritime industry and an eight-year track record in the oil industry, Petrogress continues its journey to success. Its vision is to be a global, vertically integrated energy company, well regarded for its people, partnerships and performance. It is well on the way to being exactly that, as its landmarks will testify.

Incorporated in the Marshall Islands in 2009, the company set up operations in Piraeus, famed as the port city of Athens in antiquity, and began chartering its vessels to transport gas oil. Gas oil is distilled crude with a range of boiling points (250-350°C) very similar in properties to diesel. Relying on previous experience as a maritime bunker supplier in and around Greek ports, the company shipped petroleum product from the Black Sea to the Mediterranean. In 2010, due to the vibrancy of the oil and gas sector in Africa, Petrogress expanded operations to West Africa and, in particular, Nigeria and Ghana.

In 2011, Petrogress began trading crude. In view of its success in shipping petroleum products, the company decided to enter directly into trading crude, as well as shipping. Based on the expertise and relationships developed while acting solely as a carrier, Petrogress was able to seamlessly mesh its shipping and trading activities, after which the company was set for the next stage on its path to full integration.

By 2013, Petrogress had become well known in the region as a Low Pour Fuel Oil (LPFO) trader. It shipped around 110,000 barrels that year, most of which was bought from small suppliers. By 2014, it was operating four tankers and LPFO sales had increased to 175,000 barrels. In addition, the company transported 8,750 tons of gas oil that year. The company also collaborated with a small Ghanaian refinery and acquired another tanker. During 2015, Petrogress increased its petroleum product sales to around 400,000 barrels of LPFO and 10,000 tons of gas oil, strengthening its position as an oil trader in West Africa.

Going forward, Petrogress is eyeing the U.S. gas export market (http://nnw.fm/0hzXn). In 2017, the U.S. became a net exporter of natural gas, according to the U.S. Energy Information Administration (EIA), mainly because of growing exports to Mexico but also because of declining pipeline imports from Canada and increasing exports of liquefied natural gas (LNG). The United States is currently the world’s largest natural gas producer, having surpassed Russia in 2009. Natural gas production in the United States increased from 55 billion cubic feet per day (Bcf/d) in 2008 to 72.5 Bcf/d in 2016. Most of this natural gas – about 96 percent in 2016 – is consumed domestically. However, abundant resources and large production increases have created opportunities for significant U.S. natural gas exports.

At some point, Petrogress plans to begin leasing LNG tankers to enter this lucrative market. It has incorporated a subsidiary in Delaware – Navigas Carriers Inc. – specifically to manage its natural gas activities. A sister subsidiary – Petrogress Oil & Gas Energy Inc. – has been incorporated in Texas to handle trading and logistics. The company is actively seeking opportunities in operating and developing natural gas production and transmission facilities along with LNG processing in the U.S., as well as refinery operations in North and West Africa and the transport and sales of LNG in Europe.

For more information, visit the company’s website at www.PetrogressInc.com
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Re: Petrogress, Inc. (PGAS)

Postby QualityStocks » Fri Feb 02, 2018 6:47 pm

NetworkNewsBreaks – Petrogress, Inc. (PGAS) Continues to Advance in the Oil and Gas Industry

Marine transport and offshore services company Petrogress (OTC: PGAS) has employed a winning vertical integration strategy in the oil and gas industry, and aims to engage in leasing liquefied natural gas (“LNG”) tankers in the future. An article discussing the company reads: “At some point, Petrogress plans to begin leasing LNG tankers to enter this lucrative market. It has incorporated a subsidiary in Delaware – Navigas Carriers Inc. – specifically to manage its natural gas activities. A sister subsidiary – Petrogress Oil & Gas Energy Inc. – has been incorporated in Texas to handle trading and logistics. The company is actively seeking opportunities in operating and developing natural gas production and transmission facilities along with LNG processing in the U.S., as well as refinery operations in North and West Africa and the transport and sales of LNG in Europe.”
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Re: Petrogress, Inc. (PGAS)

Postby QualityStocks » Tue Feb 13, 2018 6:48 pm

NetworkNewsBreaks – Petrogress, Inc. (PGAS) Subsidiary Expands Presence in Nigeria through Partnership Agreement

Diversified marine transport and offshore services company Petrogress, Inc. (OTC: PGAS), through subsidiary Petrogress Int’l, LLC (“PIL”), this morning announced its entry into a memorandum of understanding and a partnership agreement with Nigeria-based A&E Petroleum Co. Limited to jointly form and co-operate a corporation to be named P&A Nigeria Oil Co. Ltd. (“PANOC”). PANOC is expected to engage in operation of storage tank facilities and the supply, sea transportation, distribution and sale of gas oil and other petroleum products, effectively capitalizing on oil and gas business opportunities in Nigeria. “Our partnership with A&E Petroleum is an excellent opportunity for Petrogress to expand its operations into and serve the Nigerian market,” Christos P. Traios, CEO of Petrogress, stated in a news release. “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.”
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Re: Petrogress, Inc. (PGAS)

Postby QualityStocks » Wed Feb 14, 2018 7:29 pm

Petrogress, Inc.’s (PGAS) Texas Operations Get Underway as U.S. Eyes Number Three Spot in Global LNG Exports

- U.S. heading for number three spot in global LNG exports
- PGAS to leverage shipping expertise to enter U.S. LNG export market
- PGAS operates crude oil tanker fleet in Mediterranean and West Africa

Now that the U.S. has copped the number one spot in global natural gas production, the country is moving quickly to join the frontrunners in global LNG exports. A feature in the Houston Chronicle (http://nnw.fm/yBda2), citing U.S. Department of Energy data, ‘projects that LNG production capacity will quadruple by the end of 2019, making the (U.S.) the largest source of LNG after Qatar and Australia.’ Much of the exported LNG will leave the U.S. from Texas, where Petrogress, Inc. (OTC: PGAS) has widened its international footprint by establishing a subsidiary. The company plans to leverage its expertise in oil transportation and shipping, gained in the tough Mediterranean and West African markets, to gain a competitive advantage as the U.S. heads for global dominance in the natural gas market.

Through its Texas subsidiary, Petrogress Oil & Gas Energy Inc., PGAS is poised to capitalize on the seismic shifts transforming the natural gas industry in the U.S. Just a few years ago, the country was heavily reliant on imports of natural gas and was expected to remain that way for the near future. However, the shale revolution reversed that prospect, and the U.S. dispatched its first exports of LNG in February 2016 (http://nnw.fm/95Lmf), according to the American Petroleum Institute (API). Buoyed by growing exports to Mexico, the U.S. is currently the world’s largest natural gas producer, a position it took from Russia in 2009. This means that, since 2008, when output was 55 billion cubic feet per day (Bcf/d), U.S. natural gas production has increased by 32 percent, reaching 72.5 Bcf/d in 2016.

PGAS has set up a number of American business units to join the export extravaganza. Petrogress Oil & Gas Energy Inc., in Texas, will handle trading and logistics, while a sister subsidiary incorporated in Delaware, Navigas Carriers Inc., will manage natural gas activities. Through Navigas Carriers, PGAS plans to begin leasing LNG tankers to enter this lucrative LNG export market. To complement the shipping operations, Petrogress Oil & Gas Energy Inc. will actively seek opportunities in operating and developing natural gas production and transmission facilities, along with LNG processing, in the U.S. It will also explore opportunities for developing refinery operations in North and West Africa, and for the transport and sales of LNG in Europe.

From its international offices in Piraeus, Greece, PGAS will oversee its U.S. operations as well as its Mediterranean and West African businesses. For some time, the company has been successfully operating as a fully integrated international merchant of petroleum products, focusing on the supply and trade of light petroleum fuel oil (LPFO), refined oil products and other petrochemical products to local refineries in those regions.

As a holding company, PGAS provides its services through five wholly owned subsidiaries: Petrogres Co. Limited, which provides management of crude oil purchases and sales; Petronav Carriers LLC, which manages day-to-day operations of its beneficially-owned affiliated tanker fleet, currently consisting of four vessels; Petrogress Int’l LLC, a holding company for subsidiaries currently conducting business in Cyprus and Ghana; Petrogress Oil & Gas Energy Inc.; and its U.S. export shipping unit, Navigas Carriers Inc.

For more information, visit the company’s website at www.Petrogressinc.com
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Re: Petrogress, Inc. (PGAS)

Postby QualityStocks » Wed Feb 21, 2018 5:16 pm

Petrogress, Inc. (PGAS) Delivering Shareholder Value by Negotiating Partnerships and Maximizing ROI

- Negotiated partnerships provide PGAS, through its subsidiaries, with growth in the energy field and expansion into Nigeria and Cypress, Greece
- Physical trading in oil commodities and logistics is the company’s core business; it makes strategic investments, then operates subsidiaries separately as standalone businesses, leveraging transactions with other company sectors and third parties
- Company also owns and operates a fleet of tankers through a series of Marshall Islands-based subsidiaries that provide sea transportation for oil and liquefied natural gas

Petrogress, Inc. (OTC: PGAS) is growing and maximizing shareholder value by negotiating partnerships, such as those in Nigeria and Cypress (Greece), while also planning for expansion in its tanker business and oil commodities and liquefied natural gas sea transportation (http://nnw.fm/GOxd2).

Most recently, the company’s subsidiary, Petrogress Int’l LLC (“PIL”), entered into a partnership agreement with A&E Petroleum Co. to jointly form and operate a corporation to be named P&A Nigeria Oil Co. Limited (“PANOC”). The combined company’s stated goal is to engage in oil and gas opportunities in Nigeria while also operating storage tank facilities, providing sea transportation and distribution, and facilitating the sale of gas, oil and other petroleum products (http://nnw.fm/nL5d5).

In a news release, Christos P. Traios, CEO of Petrogress, said, “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.”

PGAS is a New York-based, fully integrated oil and natural gas energy company with offices in Piraeus, Greece, and Tema, Ghana. PGAS holds subsidiaries, including Petrogress Co. Limited, Patronav Carriers LLC, and Petrogress Oil & Gas Energy Inc. Petrogress’ vision is to be a vertically-integrated energy company. To achieve a more focused approach in management and enable these subsidiaries to pursue individual growth strategies, the company is separating its shipping business and petroleum sales.

The company is also divided into distinct groups. Its upstream group consists of oil resources and exploration. The midstream group represents its product fleet carriers. Its downstream group features its refinery and finished products. Finally, its liquefied group hosts its liquefied natural gas (LNG) sea transportation operations.

For more information, visit the company’s website at www.PetrogressInc.com
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