REMAR PETROLEUM, Has Signed a New Strategic Agreement for Petroleum Products in Saudi Arabia

REMAR PETROLEUM has stipulated a new strategic agreement in Saudi Arabia which will give it the possibility to manage its logistics in the petroleum field.

According the guide lines of this activity, REMAR PETROLEUM will provide a concrete activity in the Safety and Clearing of the naval documentation for the import and export of petroleum and refined products also from the neighbouring Countries.

The Agreement requires an initial Volume of 2.000.000 bbls per month, which will increase up to 6.000.000 bbls per month, so that REMAR PETROLEUM will reach a monthly amount of 15 million for the whole 2014.

The initial activities of REMAR PETROLEUM, will lead to a turnover of 195 million $ per month.

According to the contractual forecast, there will be the possibility to increase the turnover of the partnership up to 700/800 million $ per month, starting from September 2014.

REMAR PETROLEUM has been in charge of the whole operation.

The manager responsible for the coordination activities, Mr. John Wales, has been very satisfied about the operation and he has shared his impressions with the local partners.

Mr. Paul Barry, who has coordinated the research and development activities in the area, has been very satisfied too, expressing her confidence in a future of successful commercial operations of REMAR PETROLEUM in GCC and MENA area.

.

The President & CEO of REMAR HOLDING, Mr. Manuel Ros, who has been in charge of the whole financial part, has expressed his compliments for the great results to the whole staff.