SOURCE: Hybrid Energy Holdings, Inc.

August 26, 2010 08:30 ET

Hybrid Energy Anticipates Increased Demand: NPRA Reports World Refineries Upgrade Facilities to Accept Heavy Oil

RENO, NV--(Marketwire - August 26, 2010) -  Hybrid Energy Holdings, Inc. (PINKSHEETS: HYBE) announced today it anticipates increased demand and revenues from heavy-oil extraction as major refineries upgrade their facilities to accept heavier grades of oil.

"In general, crudes are trending heavier," said Jeff Hazle, technical director with the Washington, D.C.-based National Petrochemical and Refiners Association (NPRA), noting that refiners worldwide are facing this reality. Cindy Schild, refining issues manager with the American Petroleum Institute (API), agrees with Hazle's assessment. The available crudes are simply not as sweet as they used to be, she said.

Nevertheless, making such investments in heavy oil processing capacity in previous decades often did not support a refinery's strategy. Nowadays, the refining industry appears to be changing its approach out of necessity.

Refiners are making their facilities more complex, and thus more flexible, so that they can handle heavier crudes. Major facilities' upgrades to accept heavy oil around the world, which often have price tags in the billions of dollars, demonstrate how seriously refiners view the changing crude supply scene.

Schild explained that in years past refiners typically chose to pay higher prices for sweeter crudes rather than bear the cost of adding heavy oil processing capacity. Now, however, the days of having such a choice appear to be numbered. Refiners are making their facilities more complex, and thus more flexible, so that they can handle heavier crudes.

The Company believes its heavy-oil extraction method increases recovery rates to 90% or higher at substantially lower entry costs in the heavy oil production industry. The Company believes its Heavy Oil Extraction technologies will continue to grow in a market with no clear-cut extraction/production standard. The Company has recently announced it will focus operations and business development on the expansion and distribution of its heavy-oil extraction technology.

The Heavy Oil Industry, currently a $155 billion per year business, is set for substantial increases based on dwindling supply and increased demand. The recent Deep Water drilling ban is further putting pressure on the demand for Heavy Oil Extraction solutions.

Worldwide, the Heavy Oil industry is a $155 billion-a-year business, and is expected to continue growing as oil demand increases and supplies dwindle.

The Company believes Heavy Oil is an up and coming energy resource aggressively being sought as the world's energy demand increases. As technology continues to improve, this once costly energy source is quickly becoming a more viable alternative.

The Company earns revenues from the extraction and recovery of 'heavy oil' reserves from existing wells not in active production. 

The Company maintains its web site at:

Safe-Harbor Statement
This release contains statements or projections regarding future performance that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. The company's filings contain various RISK FACTORS (and are incorporated on the Company's website "Investors" section by reference) and should be read before any investment decision.

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