From Posting On TOMC28 May 2021 11:36
The end product produced at the POSP will still be a thick bitumen, even if it is low sulphur. From Petroteq news releases: 'The process is environmentally benign, uses no water in the extraction process, and produces bitumen and a clean sand that meets EPA Tier 1 standards as the only byproduct'
The latest version of the Petroteq technology is all about removing the solvents used in the process so they can be re-used again, but that results in viscosity issues which make it difficult to transport, and it would still then need to be shipped to a refiner to refine it to IMO2020 compliant fuel oil.
DoN wrote an excellent summary on the economics some time ago.
https://quorumzine.gitlab.io/quorum/content/2020/07/20/quadrise-msar-asphalt-ridge-analysis.html
'However, as detailed in the public SEC filings , what is produced is a very heavy crude, probably in the API 8-14 range (super-heavy crude/bitumen); in order to control the viscosity of the product, Petroteq selectively leave certain of these solvents in the finished/upgraded crude product.
This probably sounds awfully familiar to the regular reader; it’s essentially using a diluent or 'cutting', but via a slightly atypical route. As a reminder, cutting is a process by which high-value, low-viscosity distillates are added to low-value, high-viscosity residues in order to reduce viscosity enough to produce a salable product.'
Part of the Valkor/ Greenfield strategy is to use the MSAR process to create the fuel to power the CORT process on their site in lieu of trucking/ piping in gas/ diesel, which is key to reducing the production costs. The MSAR product also allows them to bypass the shipping of a bitumen product to a refiner and instead they can sell and ship low suphur MSAR direct to end users. This adds to the value chain.
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