Petroteq Energy (TSX.V: PQE) (OTC: PQEFF) is ramping up its
oil extraction in Utah through proprietary technology that could position the
company to be an industry leader. A recent article discussing the company
reads: “Petroteq expects to be at full extraction during the third quarter of
this year and then to quickly increase its 1,000 bpd production to 8,000 bpd
within the next three years (http://ibn.fm/3pDmP).
While these production volumes won’t be setting any industry records, the proof
of Petroteq’s technology’s viability and ecological friendliness would
establish it as the first company to successfully turn out commercially
profitable crude in such a fashion, granting it an industry-leading position.
The Times notes that other companies have tried for years and that U.S. Oil
Sands was the latest to fail when it went bankrupt last year before beginning
production.”
To view the full article, visit http://ibn.fm/qCh8F
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. 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. 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 the
company’s website at www.Petroteq.energy
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