SOURCE: Planet Resource Recovery, Inc.

June 02, 2016 13:00 ET

Planet Resource Recovery, Inc. Introduces Solution to Remove Chlorides From Crude Oil

HOUSTON, TX--(Marketwired - June 02, 2016) - Planet Resource Recovery, Inc. (OTC PINK: PRRY) announced today that it has completed development and introduces a new chloride reducing solution for the Oil & Gas Industry. This new product line provides an economical solution for the Oil and Gas producers around the globe that harvest high chloride count crude oil. For a cost of less than $1 per barrel, Planet Resource can increase the price of this oil by $5 to $15 per barrel.

Planet Resource has been working with PEMEX (Petroleos Mexicanos) technical staff to develop a solution to reduce the high salt content in its Mayan crude stream. High salt content crude oil is penalized $5 to $15 per barrel from the spot market price. This is due to the severe problems that arise in the refining process. The corrosive nature of salt fouls, deteriorates metals and plugs equipment contaminating the refining process.

Working with PEMEX to provide a chemical solution to enhance their desalting system, Planet Resource developed ChloroLuxus. This is a salt reducing solution that is an environmentally friendly blended compound designed to reduce chlorides in Crude Oil streams. ChloroLuxus breaks the interfacial tension in heavy crudes allowing the entrained chlorides in a crude oil to move out of the heavy crude oil stream via the entrained and suspended water which is shed into a water phase. Additionally, ChloroLuxus has shown to increase API Gravity, reduce BS&W, reduce H2S and de-gas entrained gases.

PEMEX produces approximately 600,000 BBLs of Mayan crude oil a day that is heavily laden with chlorides. PEMEX developed a mechanical system to reduce the high chloride content. Due to the maturing of the oil field and increased salt water intrusion, PEMEX is no longer able to achieve the target of 50 PTB (Pounds per Thousand Barrels) or less using its system. With the use of ChloroLuxus, we were able to achieve chloride levels of 12 & 13 PTB. This is a significant reduction to PEMEX's target of 50PTB.

Enrique M. Salinas III, President & CEO, stated, "The development of ChloroLuxus is a milestone. This solution can be a significant benefit to Oil producers that have been losing revenues due to the severe penalties on high chloride count crude oil and allow them to capture these lost revenues. High chloride count crude oil is a global problem and we look forward to working with operators to increase their revenues."

About Planet Resource Recovery, Inc.
Planet Resource Recovery, Inc. is the developer, manufacturer and marketer of the earth friendly products of the PetroLuxus™ Technology Platform which currently include the PetroLuxus™ family of products for the Oil & Gas industry and nontoxic AquaLuxus WC treatment for the water industry. For more information visit: www.planetresource.net.

Safe Harbor Statement
Under The Private Securities Litigation Reform Act of 1995: The statements in this presentation that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report for the year ended December 31, 2014, the Company's Quarterly Report for the Third quarter ended September 30, 2015. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.

Contact Information

  • Contact:
    Planet Resource Recovery, Inc.
    281-213-5622