Petroleum Corporation
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| Petroleum Corporation | |
|---|---|
| File:Logo-petrocorp.png | |
| Organisation | |
| Type | Crown monopoly |
| Owner(s) | Government of New Ingrea |
| Predecessor(s) | New Ingrea Oil |
| Founded | 1 May 1986 |
| Headquarters |
41 Phillip Avenue Port Waiparu, ABNY |
| Products and services | |
| Industry | Energy |
The Petroleum Corporation or Petrocorp is a crown monopoly of the Government of New Ingrea. The corporations owns the oil terminal, refinery, pipelines on the Shark Island facility near the town of Port Waiparu, Albanyshire. However, owing the highly integrated nature of the global oil industry, Petrocorp does not operate the facility, but instead leases it to Argo Petroleum on a 29-year agreement that first commenced in 1986, and was renewed in 2015. The facility remains in government hands owing to the unique economic and strategic environment New Ingrea finds itself in.