6th Oct 2014 06:52
LONDON (Alliance News) - Graphene NanoChem Monday said it has won a further USD4.8 million of orders for its PlatDrill drilling fluid, and had won a contract extension with Royal Dutch Shell PLC's Malaysian unit.
In a statement, the company said it had won a second commercial order for 23,400 barrels of its PlatDrill Series graphene-enhanced biodegradable drilling fluid product from Scomi Oiltools Sdn Bhd, which will deploy it to an unnamed national oil company. The order is three times bigger that the 7,800 barrel order it previously won for PlatDrill.
Separately, it said it will supply up to 5 million litres a month of its PlatAmber biofuel product under its contract extension with Shell Malaysia. PlatAmber is derived from palm oil waste, and the Malaysian government requires a mixture of 5% biofuel in diesel products, rising to 7% in 2015.
The one-year deal, which starts November 1, means the contract will run for a third term.
Graphene NanoChem expects the Malaysian market for biofuel product to increase to 700,000 tonnes a year, from 500,000 tonnes currently, once the new rules requiring a higher biofuel mix in diesel products comes into effect.
By Steve McGrath; [email protected]; @stevemcgrath1
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