- Business
- Petrogress, Inc. (OTC Pink: PGAS) operates as an integrated energy company focused on oil and gas activities across upstream, midstream, and downstream segments; it refines crude oil into petroleum products including gas oil, naphtha, fuels, and lubricants, markets crude oil and refined products, provides marine transportation services through its fleet of tankers for its own products or third parties, purchases and sells crude oil in Cyprus, the Middle East, and West Africa, and operates gas filling stations in Greece. Founded in 2009 and headquartered in Piraeus, Greece, the company conducts operations primarily in West Africa, the Mediterranean region including Greece and Cyprus, and maintains a presence through subsidiaries such as Petrogres Co. Limited for oil trading in West Africa, Petronav Carriers LLC for tanker management and shipping, Petrogress Hellas Co. in Piraeus, and PG Cypyard & Offshore Service Terminal Ltd. in Cyprus pursuing port operations and management agreements with the Cyprus Ports Authority. Recent developments include a long-term lease agreement for a 38,000 DWT tanker by subsidiary Petronav Carriers LLC to expand its fleet for oil products and chemicals transport, alongside historical expansions such as leasing gas stations in southern Greece for retail operations under the PG OIL brand and entering partnerships for maritime services to support refineries like Dangote in Nigeria.