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FINANCIAL NEWS
Saudi Aramco adopts Quadrise technology in its refineries
23 Aug 2012
(MENAFN) Rafid Group and Quadrise Fuels, a British fuel technology firm, will implement Quadrise technology in Saudi Aramco’s refineries, Reuters reported.
Quadrise chairman Ian Williams said the company will generate commercial revenues from the oil-rich Kingdom within two years, after signing the deal which it believes could transform Saudi Arabia’s power generation sector.
Quadrise’s technology can produce a lower-cost version of heavy fuel oil, made when high-sulphur tarry residue left after the distillation of crude is blended with low-sulphur diesel, which in Saudi Arabia is used for power generation.
The chemical process allows the production of the fuel oil without the need for diesel, resulting in cost savings, meaning cheaper power generation in Saudi Arabia, a major advantage, the company said, as the Kingdom currently imports some of the diesel used to make fuel oil.
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