Petrogress Inc. Announces the establishment of its branch representation in Egypt, further expanding its Global Operations.

The continuing expansion of Petrogress operations in Egypt will generate enhanced revenue opportunities with its new venture in the Egyptian ports of Port Said (entrance of Suez Canal), and Alexandria port, where the Company intends to operate bunkering facilities and oil residues collection.

NEW YORK, July 08, 2020 (GLOBE NEWSWIRE) -- PETROGRESS, INC. (OTC:PGAS) today announced that its wholly-owned subsidiary Petrogress Int’l, LLC (“PIL”) has concluded an agreement with one of the larger Egyptian Maritime Agency Companies, PORT SAID SHIPPING & NAV. CO. SA (“PSSN”), to start the bunkering operations and the oil-residues collection from the ships at the Egyptian ports of Port Said, Alexandria and Damietta. PIL will start the operations with one of its oil-barge tankers in the reference areas. In addition, PIL, jointly with PSSN will act as collector of oil-residues from all ships calling the mentioned Egyptian ports. Based on the Egyptian authorities’ statistics, the traffic of vessels calls is estimated about 75 ships daily.

The Egyptian Government has adopted and enforced under International, to control oil sea-pollution as specified by the International Convention for the Prevention of Pollution of the sea by Oil (ICPPO) which is administered and promoted by the International Maritime Organization (IMO) since 1959.

PIL expects to commence the bunkering and oil collection operations by August 2020 and plans to mobilize its first barge-tanker at the end of July. PIL’s initial operations will be the management of waste-oil and the collection of oil-residues/sludges, oily bilges water, waste lubricants, dirty ballast water, oil tank washing and all liquids generated by ships during their operations. Apart from the oil-residues management, PIL plans to increase the number of the tanker barges and to create a bunkering network in Egypt and the Eastern Mediterranean.

“We are excited with our new partnership and the expansion of our activities which is an excellent opportunity for Petrogress to expand its operations into and serve new markets areas.  Bringing new business opportunities to fruition demonstrates our mission to establish Petrogress as a strong integrated oil energy company by providing upstream, midstream, downstream services and now participating directly in the environmental protection of our Seas. Our companies’ combined facilities, assets and services are not only expected to provide for enhanced revenue streams, but also ensure our future in this important international market,” stated Petrogress Chief Executive Officer, Christos P. Traios.