Quadrise Progresses MSAR Pilot Test Programme With European Oil Major

LONDON (Alliance News) - Quadrise Fuels International PLC said Monday it has continued its work ...

Alliance News 20 May, 2019 | 3:39PM
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LONDON (Alliance News) - Quadrise Fuels International PLC said Monday it has continued its work with an unnamed European oil & gas major over an MSAR Pilot Test Programme.

In November 2018, the emulsion technology and fuel supplier signed a memorandum of understanding, saying it would undertake testing of specific refinery residues for the firm on a paid basis, to "optimise the blending of Refinery residues to MSAR fuel".

So far, outline work for the design of MSAR production facilities at a candidate refinery is ongoing, and Quadrise is due to start initial analytical testing immediately that will allow full pilot testing to be completed by the third quarter of 2019.

Also, Quadrise is also working on an assessment for the refinery to obtain a feasibility study agreement from a potential client for the consumption of MSAR fuel from the refinery.

In addition, it has terminated a memorandum of agreement with M/S Rafid Group for Trading & Contracting for exclusivity in Saudi Arabia, an agreement first signed in 2012.

"We are pleased with the progress we have made with our oil major client on developing the MSAR fuel market assessment and meeting with potential consumers. Collecting residue in its raw form, for the first time, is challenging but the client has obtained a small initial test sample safely and without impacting production," said Executive Chair Mike Kirk.

"We have been working with Rafid for many years in Saudi Arabia, though unfortunately, we were not able to progress the projects that we were working on together under the MOA. I would like to thank everyone at Rafid for the assistance that they have provided and wish them every success in the future," Kirk added.

Shares in Quadrise Fuels were up 1.5% at 3.47 pence on Monday.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Quadrise Fuels International PLC 5.00 GBX 6.38 -
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