17th Jul 2007 07:01
Quadrise Fuels International PLC17 July 2007 17th July 2007 Quadrise Fuels International plc ("Quadrise" or "the Company") AIM: QFI QUADRISE FUELS INTERNATIONAL IDENTIFIES OIL REFINING INDUSTRY AS MAJOR AREA FOR GROWTH Quadrise Fuels International, the AIM listed specialist manufacturer of MSAR(R)emulsion, plans to target the oil refining industry to promote its technologywhich can enable oil refiners to dramatically reduce costs by developing residuesources for manufacture of its MSAR(R) fuel. The benefit of MSAR(R) manufacture for refiners is the release of valuablecutter stock into the distillate pool which significantly improves refiningprofit margins. The potential to run heavier and cheaper crudes is particularlysignificant to refiners. A saving of $5 per barrel on crude costs translates toa reduced operating cost of over $300 million per annum for a 200,000 barrel perday refinery. Quadrise acts as a sink and purchases the increased residue volumes arising fromheavier crudes, solving a major disposal problem for the refiner. MSAR(R)'sprice competitiveness has meant that Quadrise can place the residues at powerplants that are equipped with the necessary flue gas abatement equipment. Notonly does Quadrise eliminate the refiners disposal problems arising from lowvalue residue, but the usual sulphur emissions associated with these materialsare processed in custom built facilities in an environmentally acceptablemanner. Dr. Ian Duckels, a consultant to Quadrise and former Chairman of Nerefco, the BP/Texaco Joint Venture refinery in Rotterdam, and currently a specialist lecturerin refinery economics for the Petroleum Economist said: "For certain refinerieswith suitable configurations and the ability to supply appropriate powergeneration facilities, an MSAR(R) solution is the low-cost, margin-enhancing,easy-to-implement and efficient option, particularly when compared to other moreconventional high-capital cost upgrading processes. Processing residue to MSAR(R) avoids production of the significant additional quantities of greenhouse gason the refinery site associated with conventional upgrading technologies." Bill Howe, CEO, Quadrise Fuels International, said: "In addition to itsapplication in the downstream refining industry, the relevance of MSAR(R)'s rolefor oil field power generation and simultaneous enhancement of oil recoverythrough injection of carbon dioxide into hydrocarbon reservoirs has becomeobvious. The International Energy Agency have announced that the worlds supplyof oil will be even tighter in five years time and this technology has a placein extending reserves and crude output in the timeframe." For further information, please contact: Quadrise Fuels International plcBill Howe, CEOT: +44 (0)20 7550 4930 Smith & Williamson Corporate Finance LimitedAzhic Basirov / Siobhan Sergeant+44 (0)20 7131 4000 Parkgreen CommunicationsSimon Robinson / Clare Irvine+44 (0)20 7851 7480 Notes to editors: Quadrise Fuels International plc ("Quadrise") produces an emulsion fuel as a lowcost substitute for conventional heavy fuel oil ("HFO") for use in powergeneration plants and large steam raising or energy consuming industries. In manufacturing its fuels, Quadrise uses the least valuable elements of the oilbarrel, thus providing a very cost effective product whilst simultaneouslyfacilitating a means to market for the least desirable heavy crudes and refineryderived residues. The emulsion fuel product, termed MSAR(R) (Multiphase Superfine AtomisedResidue), has superior combustion characteristics to conventional HFO and coal,and has comparable or superior environmental performance in respect ofgreenhouse emissions. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
QFI.L