Fully integrated oil and gas company Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) has developed a proprietary extraction technology that could play a vital role in the U.S. oil sands & shale industry. An article discussing the company reads: “The company does not drill for oil, but rather has developed patented technology to extract bitumen (crude oil) from oil sands and shale, crucial methodology that could unlock the trillion barrels of oil buried in Colorado, Utah and Wyoming. The technology is being readied for application at its Asphalt Ridge facility in Utah. … Petroteq Energy Inc. has developed its environmentally safe, continuous flow, closed loop technology (a first in North America… and probably in the world) to extract bitumen oil from oil sands. The technology, which depends on a patented solvent/surfactant and produces no greenhouse gases, is the result of almost five years of research by Petroteq’s research and engineering teams, led by the company’s chief technology officer, Dr. Vladimir Podlipskiy. It can be effectively applied to both “water-wet” deposits, such as the oil sands projects in Alberta, Canada, and in the 20 or so countries with oil sands, as well as the “oil-wet” deposits found in Utah, where Petroteq is operating.”
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About Petroteq Energy Inc.
Petroteq is a fully integrated oil and gas company focused on the development and implementation of a new proprietary technology for oil extraction. The company has an environmentally safe and sustainable technology for the extraction of heavy oils from oil sands, oil shale deposits and shallow oil deposits. Petroteq is engaged in the development and implementation of its patented environmentally friendly heavy oil processing and extraction technologies. Petroteq’s proprietary process produces zero greenhouse gas, zero waste and requires no high temperatures. Petroteq is currently focused on developing its oil sands resources and expanding production capacity at its Asphalt Ridge heavy oil extraction facility located near Vernal, Utah. The company also owns a minority stake in an exploration and production play located in southwest Texas held by Accord GR Energy Inc. In addition, the company, through its wholly owned subsidiary PetroBLOQ, LLC, is seeking to develop the first blockchain based platform created exclusively for the supply chain needs of the oil & gas sector. For more information, visit www.Petroteq.energy and www.PetroBLOQ.com.
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