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https://www.google.com/amp/s/www.powerengineeringint.com/gas-oil-fired/jera-americas-acquires-thermal-power-plant-portfolio/%3famp=1

The magnitude for low sulphur Msar within the USA itself is enormous, if Valkor and Qfi can target opportunities above.

https://www.forbes.com/sites/davidblackmon/2022/01/17/new-englands-clean-energy-transition-seems-heavy-on-fuel-oil/

As you can see in New England fuel oil is a major component of power generation, so using a cheap, environmentally synthetic fuel oil ticks all the boxes.

Once the Utah railroad is built we could also bunker low sulphur BioMsar from LA. Thus the Marine aspect of the fuel is again a very lucrative opportunity.

Steve Byles is the right champion for this, an American go-getter who wants to double his money.

This is a power station ran on fuel oil, I hope Qfi are on the case. An opportunity begging for our product.

I think if MSC do adopt it that wearisome subject of royalties will disappear. I mean the amount Maersk would earn from it would be "pennies on the pound",but if they did want to stick to their guns on that then all Qfi would have to do is to add a small percentage of glycerine to the blend, say 5% and the Msar formulation would be different than that agreed with Maersk.

But personally I think Maersk would drop the royalty idea since the clause runs out by 2027 I think.

If you remember when JM attended a shipping conference last year sandwiched between MSC and Maersk the Maersk speaker referenced the Msar trial and alluded that emulsion fuels were for a future conversation ( BioMsar ?)

https://shipandbunker.com/news/world/174526-bunker-jobs-maersk-seeks-senior-future-fuels-manager

Looking at the first bullet point, if MSC successfully trial BioMsar and sign the contract. I think you can bet your bottom dollar Maersk will sniffing around BioMsar for use in their fleet.

https://mexicobusiness.news/oilandgas/news/refinery-fire-leads-losses-causes-yet-another-safety-incident

Been saying for quite a while that Mexico needs Qfi and Msar. Producing upto 240k/bd of fuel oil and selling it to CFE ( Mexican leccy board essentially) is throwing money away. The Americas paper initially identified savings of upto $600 million initially, but that has defo gone north of that figure due to the ongoing problems in the world.

But also Mexico's poor ESG credentials is constraining its ability to access the debt markets especially from the US and Canada who essentially told Mexico to clean up its act to continue to do so.

These security issues harm President López Obrador’s mission to rescue the NOC, as investors are urging the state-owned company to increase environmental, social and governance efforts. Major stakeholders are aware that analysts deemed PEMEX’s emissions dangerous and employee insecurity to be “extreme” and argue that a solid ESG plan is essential to attract more private investment

Furthermore, Scientists from The National Institute of Public Health of Mexico (INSP) estimate that in Mexico City’s metropolitan areas 12,000 people die every year due to severe lung damage caused by the pollution from the Tula Hidalgo refinery, a risk that Salina Cruz citizens may face as well.

Now that the monopoly of Pemex selling Fuel oil to CFE for electricity generation has been overuled allowing cheaper more environmental producers to enter the market, Pemex and CFE need Msar to remain competitive with these new market entrants.

Intially this is going to start off as an internal refinery power generation opportunity providing power and heating cleaning up those refinery emissions in the process, but as it gains traction Msar could be sold onto CFE for industrial and residential power generation and act as a regional hub for MSAR to surrounding countries in Latin Americas and Caribbean that still use Fuel oil.

This central hub idea was a possibility that Jason Miles confirmed ( note i said possibility )

So in essence Mexico and Latam and Caribbean countries is probably more exciting and lucrative than KSA to me.

KSA is a remote possibility in my opinion, but you never know in the future if Mexico starts to accelerate quickly and they like what they see.

Ahhh good old serious SavilleRow. Haven't mellowed one bit. Lol.

Quite realise that Qfi are focusing on getting a few select projects across the line. The point is that users of HFO should be beating the doors down to use standard MSAR considering the economical and environmental benefits, but are willing to pay the higher price of HFO despite crying foul of the price increases which they believe they can pass onto the customer.

The RNS every week line was tongue in cheek. Surely you haven't lost your sense of humour in all that time Saville.

https://oilprice.com/Latest-Energy-News/World-News/Refiners-Reap-Benefits-from-Russian-Sanctions-Fallout.html

So the message seems to be that those users of HFO in the marine and power sectors are willing to pay the higher price. And this is the frustrating thing for MSAR, until we get that first contract within the Industrial, Marine and Power sectors and a refiner who can provide a continuous supply we are always going to be shouting into an echo chamber.

Once that first user commits then we have a platform on which to fly from and users should come more rapidly. Its that first domino we are still waiting for.

While yes offtake agreements have yet to be signed, potential customers have been identified and probably Valkor would have had initial talks. In Utah there are 4 coal fired power stations and one of the possibilities mentioned by Jason Miles was a Re-Fuel opportunity.

One is due for coal decommission in 2025, and the other 3 between 2030-2042 With environmental commitments from the US it would make sense for these plants to switch to Msar .

Also mining operations and cement producers that use drying kilns etc .

I think the thing to take away is that Steve Byles is dynamic and won't have entered into this lightly and also the fact they have given themselves tight deadlines of June for testing and negotiations and October for exclusive agreements should make this particular project that bit more concrete than say Morocco which might only have been the pilot trial since we were only dealing with the research team and not the more important industrial team.

But as stated Morocvo's fuel oil bill is through the roof and since OCP consumes 7% of the total Moroccan power supply and a large component of that would be fuel oil, they'd be shooting themselves in the foot not using Msar.

https://www.washingtonpost.com/business/energy/us-east-coast-diesel-supply-is-running-on-fumes/2022/05/04/1ef4623e-cb83-11ec-b7ee-74f09d827ca6_story.html

The frustrating thing about the eternal wait for news is the headlines screaming of the car crash about to happen.

With a worldwide shortage of diesel, refiners face a choice. Do they still produce HFO at similar volume but mark it up to account for the distillate, this surely then negates the economics for those using scrubbers, or plain sell the diesel and thus reducing HFO production.

This coupled with the fact that a number of refineries have closed or converted to BioFuels production limits how much diesel can be produced since a great majority comes from Russia.

This is surely super positive for standard MSAR as the replacement for HFO, so not seeing an RNS on a regular occasion for Marine or Power generation for those who use HFO is very frustrating.

The bill alone for Morocco's use of Fuel oil, a big component of which is for OCP's drying kilns for their phosphate production has sky rocketed. So the dilly dallying of actually re-negiotiating the updated terms with the industrial team is very frustrating to say the least.

With the diesel shortage in the US so acute, it should make the Utah venture shine that much more brightly, because the Americans make decisions and take risks which is makes them the lead project so far.

Sorry can't post link. Anyways its an Argus Fuel oil and alternative fuels sumitt in the US , 19th-21st Oct. Which ties in nicely with Qfi and Valkor coming to an exclusive agreement

Be a good platform to promote low sulphur Msar/BioMsar to the Marine industry and further clients in the US.

https://www.argusmedia.com/en/conferences-events-listing/fuel-oil

A good platform for our project in Utah if we can keep on track with the timelines.