Genoil Inc. announced the company and Instituto Mexicano del Petroleo signed a Memorandum of Understanding, which seeks to establish guidelines for cooperation between Genoil and the IMP to jointly team up to develop business opportunities in matters of improvement of heavy and extra-heavy oils in Mexico. The interest of this Memorandum includes the joint search for business opportunity, as well as the development of potential investments in service projects, the scaling of products, provision of technological services, consulting and specialized advice, promotion of investment, specialized training and marketing in everything related to the Processing of Heavy Crude Oil, as well as for the process of Hydrotreating.