Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF), a company focused on the development and implementation of proprietary technologies for the energy industry, this morning announced its entry into an agreement with Pemex, the Mexican state-owned petroleum company and one of the world’s top petroleum producers. On December 1, 2017, Pemex made headlines by becoming the first petroleum company to accept cryptocurrency as a form of payment. Per the update, Pemex is optimistic that it can benefit from the adoption and integration of a blockchain technology platform to efficiently manage and implement the chain of supply of oil and gas, falling in line with Petroteq subsidiary PetroBLOQ’s ongoing efforts to develop the first supply chain management platform for the oil and gas industry based on advanced blockchain distributed ledger technology. “We believe this new opportunity with Pemex serves as a testament to the success of our vision as we continue to make progress in our most recent venture, to develop and operate an enterprise-grade, blockchain-based platform,” Alex Blyumkin, CEO and chairman of Petroteq, stated in the news release.
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About Petroteq Energy Inc.
Petroteq Energy is engaged in the development and implementation of its proprietary environmentally friendly heavy oil processing and extraction technologies. Our 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. Petroteq is also developing technologies to optimize petrochemical industry workflow processes. For more information, visit www.PetroteqEnergy.com
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