Axial Vector Energy Corp. today announced that its PETRO AVEC Joint Venture partner, Petrosonics LLC, was awarded two Hong Kong Patents, resultant from the award of European Union patents 1 635 924 B1 and 1 668 095/04 781 388.6. The two patents protect the method by which sulfur and nitrogen bearing compounds are removed from diesel oil through the use of sonic energy and an oxidizing agent. They also protect a related process for the removal of the resultant oxidized sulfur and nitrogen contaminants.
Several oil and gas companies have based their operations in Hong Kong, including CNPC Hong Kong, China Resources Petroleum Company, Ltd., SS United Oil & Gas Company, the Hong Kong and China Gas Company and the Hong Kong Petrochemical Company. The Hong Kong Petrochemical Company plans to invest HK$40-60 billion in the construction of an oil refinery, oil tanks, power installations and filling stations in Hong Kong.
The company also announced that Petrosonics LLC was recently awarded Kazakh Patent No. 19582, protecting the process of removing sulfur from all types of crude oil fractions through sonic energy, oxidation and the removal of all of the oxidized sulfur through hydrotreatment. The patent will remain effective for two decades.
British Gas (BG), Chevron, ConocoPhilips, ENI, Exxon Mobil, Exxon Mobil CPC, Inpex, LukArco, Lukoil, Rosneft-Shell, Shell, Total and Transneft (Russia) all have major projects in Kazakhstan. At 1.7 million barrels per day, Kazakh oil exports are growing rapidly. The refining sector in Kazakhstan has three major oil refineries with total crude oil refining capacity of 345,093 bbl/d.
Dr. Mazin Samman, lead PETRO AVEC licensing negotiator for Russia and the former Soviet states, stated, “The major oil companies are investing heavily in Kazakhstan, which bodes well for infrastructure spending and licensing through PETRO AVEC. The refining sector, which is State-owned, is under-developed but will benefit from crude oil revenue driven investment. We see a substantial opportunity to not only market into both the upstream (wellhead) and downstream (refinery) markets, but to market to the large, global oil companies as well. Refineries are acknowledging that PETRO AVEC Technology could be worth billions of dollars of cost savings and profits when fully deployed.”
AVEC Chairman Mr. Ahmed Khalifa commented, “Achieving this broad intellectual property protection in Kazakhstan and Hong Kong represents the milestone in our efforts to achieve broad patent protection in all major oil producing and oil refining nations. We are very pleased with these awards and the markets that they open. While we still have an additional 1500 patenting claims pending the company will now start to accept invitations it has received for licensing negotiations beginning next week. These invitations are the result of technical presentations done by PETRO AVEC to both government owned oil companies and large private refineries.”
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