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Genoil Inc. Pushes Development, Financing of its Joint Venture Project with Haiyitong (HYT), Article Posted on BeaconEquity.com

Genoil and Haiyitong move toward completion of a heavy oil and refinery residue upgrading project worth up to $170 million; Genoil provides update on ongoing marketing and financing efforts.

(EMAILWIRE.COM, November 19, 2008 ) DALLAS, Texas - BeaconEquity.com announces the publication of “Genoil Inc. Pushes Development, Financing of its Joint Venture Project with Haiyitong (HYT).”

Investors can view all of the investment articles for free by visiting: http://www.beaconequity.com/m - Click on News and Commentary

In the article the author writes:

"Canada-based Genoil (GNOLF), an international engineering technology development company, recently announced an update on the ongoing marketing and financing efforts of its heavy oil and refinery residue upgrading project with Haiyitong Inc. in China. … The Genoil Hydroconversion Upgrader (GHU) is an improved catalytic hydroconversion technology that economically upgrades and significantly increases the yields from high sulphur, acidic, heavy crude, bitumen and refinery residues.”

The Genoil Hydroconversion Upgrader will allow the refinery to use cheaper heavy sour crude mixed with the existing refinery residues resulting in significant cost savings:

“Genoil and HYT have agreed to build a 20,000 barrel per day (bpd) GHU unit worth $170 million at the refinery site, with the purpose of enabling the refinery to use lower cost feedstock. Instead of buying light, sweet crude to refine, HYT will be able to process a mixture of cheaper heavy sour crude oil and the existing refinery residues. These residues are currently sold as a low value by-product.”

To read the entire article visit http://www.beaconequity.com/m – Click on News and Commentary

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Source: BeaconEquity.com

Beacon Equity Research
Jeff Bishop, (469)-252-3505
press@beaconequity.com

Contact Information:
Beacon Equity
Jeff Bishop
Tel: (469)-252-3505
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