NEW YORK -- Genoil, the publicly traded clean technology engineering company for the petroleum industry, and Grupo Roales Mexico, today announced that that they have formed a ten-year alliance and partnership agreement to jointly engage in bids and develop projects in Mexico. It is expected that these projects will use Genoil's GHU advanced desulphurization technology which converts heavy or sour crude oil into much more valuable, low sulphur oil, for a low cost at the fraction of the cost of traditional refining processes.
Grupo Roales will support Genoil with engineering, procurement and construction (EPC) work including; feasibility studies and detailed engineering design, procurement and design for the projects which will be applying Genoil GHU technology on an exclusive basis in Mexico. The companies are currently reviewing several projects in Mexico.
Grupo Roales was formed in 2008, and is a leading oil services company headquartered in Ciudad del Carmen, Campeche Mexico. Employing 415 people, the company is an expert in the regional supply and outsourcing of specialized technical administrative services to companies in the oil sector, helping to increase productivity, sustain growth and strengthen customer satisfaction, with a commitment to quality service, professionalism and compliance with the requirements of its customers.
The agreement is the latest in a series of strategic partnerships Genoil has developed with scientific, engineering, refining and financial organizations. Genoil is also progressing numerous initiatives worldwide including projects in Russia, the Gulf Cooperation Council region, North America, China, India and Vietnam.