New York, NY—07/30/2013—GenOil CEO David Lifschultz recently completed an interview with The Wall Street Analyzer to discuss the company’s unique upgrading process that converts heavy oil into light oil. He updated investors on the companies’ recent alliance with the son of the ruler of Abu Dhabi, Sheikh Khalifa bin Zayed Al Nahyan, who produce 2 million barrels a day of oil, and have 95 billion barrels of oil in reserve. The company has also added Slobodan Puhalac, who oversaw the South Stream project for Russia, to their Board of Directors. Mr. Lifschultz talks about his background and experience as well as the Lifschultz family, which has been in business for over 114 years and is behind GenOil. He addresses the company’s key goals of penetrating some of the larger companies with their technology and explains why there is a need for it. “The depletion of the light oil has gone down to 400 billion barrels of oil and we are using about 30 billion barrels a year of that. So we have to hurriedly start developing the heavy oil and to convert it and we also have to develop it for the bunker fuel, because the bunker fuel has to be converted to lighter oil by 2015 in order to meet the shipping standards and if we don’t have enough of that oil being produced, the oil price will go at the pump from $3 or $4 or $5 a barrel to $10 a gallon.” He also confers why he feels the company is undervalued especially considering the fact they have the backing of SPK and Genoil Emirates.
For More Information Please Contact:
| David Lifschultz – CEO | |
| Rockefeller Center 1230 Ave of Americas, 7th Floor New York, NY 10020 USA |
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| Tel: | +1 914 433-0304 |
Email: DKLifschultz@genoilemirates.com
