PGI Energy Signs Allocation Oil Agreement With Intertorco Europe S.A./Saudi Aramco

(firmenpresse) - HOUSTON, TX -- (Marketwire) -- 07/27/11 -- (PINKSHEETS: PGIE)

PGI Energy has entered into an allocation agreement with its limited joint venture partner as the exclusive trading desk for six million (6,000,000) Bbl per month for twelve (12) months with option for 60 months extensions to sale from . PGI will begin trading this crude immediately at favorable pricing and expects to receive significant revenues from sales.

Intertorco is an Energy Development Company with a huge international experience in projects of electricity, oil and other sources of power.

Saudi Aramco is Saudi Arabia's premier oil producer. Saudi Aramco is a current partner with Shell oil in the construction of the US largest refinery 660,000 Bbl per day capacity located in Port Arthur, Texas.

is an energy holding company, headquartered in Houston, Texas. The company's purpose is to acquire assets in the proven producing oil, gas assets, refinery, pipeline sectors of the energy industry and other synergistic assets.

PGI has formed several partnerships to grow its core business organically through strategic alliances diversifying its interest in green energy through biomass production, waste to energy, wood pellets production, syn gas, bio char production and plastics to synthetic crude. PGI has several core divisions which provide support to its operations and customers such as PGI Transportation & Logistics, PGI Manufacturing & Engineering and PGI Commodities Trading.





For more information visit:
(832) 900-1400
Jose I. Colon

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Bereitgestellt von Benutzer: MARKET WIRE
Datum: 27.07.2011 - 14:30 Uhr
Sprache: Deutsch
News-ID 38325
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