Logic International Petroleum Ltd
Press Release (ePRNews.com) - TANJONG PAGAR, Singapore - Jun 10, 2016 - LOGIC International Petroleum Ltd 逻辑国际石油有限公司 FLAT/RM A30 SILVERCORP INTERNATIONAL TOWER 707-713 NATHAN ROAD MONGKOK KOWLOON HONG KONG PRESS RELEASE
Strategic Oil Group Finalise Investment Agreement for Oil Supply to China and South East Asia
FOR IMMEDIATE RELEASE 6th June 2016
The Oil meeting in Singapore comes at a time when the strategic alliance between Logic and APEC stretches across the Caribbean, West Africa. China and into the Gulf.
Logic as a shareholder in APEC commands a strategic position to access the capital necessary for its own global growth and that of its partner Virtual Solutions in the Caribbean.
From left to right. Colin Archer Chairman APEC Logic Investments Limited Mr. Koon Sang Lim CEO Logic International Petroleum Limited and Mr. Frank Rose CEO Virtual Solutions Limited. The global oil industry is facing a profound shift in the international energy market. Global energy consumption is set to grow with the resulting pressures of new demands on the international global energy and environmental systems market.
The challenges facing the global oil industry have never been so important as they demand more innovative and sustainable solutions to be found by all of us here in the international oil community. At the moment it is a buyers’ market as all National Oil companies try and ramp up production to shore up revenues due to dwindling profits. Adding more pressure is the emergence of Iraq and Iran from war and sanctions putting even more pressure on the oil supply glut.
Mr. Lim the CEO of Logic International Petroleum said “We here at Logic are committed to maximizing the value of our oil and gas assets and to remain a trusted and reliable oil supplier in the long-term.”
He went on to say “Logic and its investment partners are investing substantial efforts and capital to broaden the supply and customer base of Logic International Petroleum Limited. The objective is to increase the turnover of the company to a level of 10 (ten) million barrels of petroleum products per month.”
Mr. LIM Koon Sang at the Headquarters of NNPC Abuja Nigeria
On following up we plan to invest with our strategic investment partners directly or indirectly into existing refinery upgrades and in new refineries where necessary. Logic is currently evaluating the acquisition and upgrading of a number of refineries in Europe with a budget in excess of $US 12 Billion.
We have also entered into a Joint Venture to provide working capital to acquire crude oil and fund the processing of this oil.
Logic has already acquired and plans further acquisitions of tank storage facilities in strategic locations such as Maoming (Guangdong Province of China), Singapore, Rotterdam, Shanghai, Dalian, Qingdao.
As a follow up the company is working with Platts Singapore Office to develop a comprehensive information network to satisfy the needs of our various petroleum related businesses and representation offices internationally while Logic has successfully built up a professional team in the petroleum trading business through acquisition, partnership, joint ventures.
Logic also benefits from the solid and flexible funding sources from the Group’s traditional Strategic Partners and Investors and can provide the necessary funding for the traditional petroleum trading business and the very substantial additional capital required for vertical integration of downstream Trading activities.
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ABOUT LOGIC INTERNATIONAL PETROLEUM LIMITED
Logic International Petroleum has successfully built up a professional team in the Petroleum Trading Business through acquisition, partnership, joint ventures and establishment of representation offices and sales offices worldwide. Logic also benefits from the solid and flexible funding sources from the group’s traditional strategic partners and investors and can provide the necessary funding for the traditional petroleum trading business and the very substantial additional capital required for vertical integration of downstream trading activities with the upstream refining capabilities. With these Logic plans to forge, in the next decade, a world leading integrated petroleum conglomerate within the group.
Visit www.logchina.com for detailsSource : Logic International Petroleum Ltd