Category: Petroleum


In the past days our company was mentioned in the media in respect to the detection of dioxin in animal feed in Germany (For more information you find a summary of the facts below). Finally it turned out that there has been an erroneous use of our technical grade fatty acids by a feed producer with no legal or commercial consequences for Petrotec apart from increased scrutiny by authorities. Petrotec has acted according to the law and has applied appropriate commercial practices.

We regret that another company seems to have misused our product. In this context we would like to point out that Petrotec is very conscious of its responsibility for its products and thus has always aligned its quality management accordingly. In all contracts, delivery notes and invoices we have always clearly declared that our fatty acids and other byproducts from used cooking oil are for technical use only and not for the food and animal feed industry.

If you have any questions or concerns, please don’t hesitate to contact us!
Thank you and best regards,
Michael Fiedler-Panajotopoulos
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Facts:

· Northern German feed producer Harles & Jentzsch admit on Tuesday morning 4th January that they have thoughtlessly mixed

technical fatty acids into animal feed, after on Monday 3rd January they claimed to have received dioxin-contaminated fatty acids. from Petrotec’s plant in Emden via Olivet, a Dutch trader. · Olivet, a Petrotec customer, issues a press release on the same day
stating that the Dutch food safety authority NWA, confirmed: the fatty acids “from Petrotec (and marketed by Olivet) were earmarked  for ‘technical purposes’ andwere notmeant to be used for animal feed”.
· On Tuesday 4th January Petrotec has been visited by local authorities both in Emden and Oeding disclosing its production process
and all relevant commercial documents: the officials confirmed that the statements “not for food or feed purposes” and “for technical use” were clearly written respectively on all contracts, invoices and delivery notes.
· Based on scientific insight, it is technically not possible for dioxin to be generated within our entire production process.

Saudi stock market shows sign of cooling

Apparently in China they had an increase in bank reserve capital, in turn lowering the amount banks are willing to loan to consumers and businesses to buy new goods and properties.

The world economy is at odds following the financial crisis due to the timing of this regulatory interception in China. One could safely assume that China is growing enough already, and these financial influxes into the mainland wealth creates a buffer they can shuffle both policy and monetary flow to , in effect, control commodity prices in international markets.

No one is really sure how to ride the wave in the Chinese economic market since the financial markets are highly regulated and the Chinese Renminbi Yuan is not something you can exchange freely going in and out of the country.

As if it seems this timing is not apparent enough, Ireland’s bailout is expected to reach 100 billion €, While the low corporate tax there is beginning to shake, and many of the likes DELL HP Microsoft are currently enjoying this tax heaven.

Oil traders are already expecting a lower price per gallon as the oil demand world wide begins to subside due to fears china will start to cool down more after Christmas.

Iraq oil & gas summit Houston October

This substantial event will bring together oil and gas industry leaders in the US and key decision makers from the Iraqi Ministry of Oil as well as Iraq’s state owned oil and gas companies, we still have a few exhibit and sponsorship opportunities available.

Please complete the attached form to book you for a slot or contact me at tip@forsake.com for further inquiry.

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