MiningNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) Issues Shareholder Update

August 26, 2020 09:03:43

Petroteq Energy (TSX.V: PQE) (OTC: PQEFF), an integrated oil company focused on the development and implementation of its proprietary oil-extraction and remediation technologies, today released a shareholder update regarding recent ‎transactions relating to the company. Among other highlights, the update discussed Petroteq’s entry into an agreement with Valkor Energy Services LLC. Under the agreement, Valkor will assume responsibility for the management and operations of Petroteq’s existing oil sands plant at Asphalt Ridge, Utah. Valkor, together with its joint venture partner, Tomco Energy plc, ‎are upgrading Petroteq’s existing oil sands plant to increase capacity and reliability for continuous ‎operations at 400 barrels per day average with a target of 500 barrels per day. This is  part of a larger ‎study for a proposed commercial scale 5,000 barrel per day plant design, which, with minor ‎changes to account for location variables, could be utilized for expansion of Petroteq’s existing oil sands plant ‎and for other similar facilities worldwide.‎ ‎“We are looking forward to working with Valkor and Greenfield Energy,” said Petroteq CEO Alex Blyumkin in the press release. “Their expertise ‎and resources will be of great benefit to us at Petroteq.”

To view the full press release, visit

About Petroteq Energy Inc.

Petroteq is a fully integrated clean technology 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 and reclamation of heavy and bitumen 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 is currently focused on developing its oil sands resources and expanding production capacity at its Asphalt Ridge soil remediation and heavy oil extraction processing facility located near Vernal, Utah.

For more information, visit

NOTE TO INVESTORS: The latest news and updates relating to PQEFF are available in the company’s newsroom at

About MiningNewsWire

MiningNewsWire (MNW) is a specialized communications platform focused on developments and opportunities in the global resources sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, MNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MNW brings its clients unparalleled visibility, recognition and brand awareness. MNW is where news, content and information converge.

To receive SMS text alerts from MiningNewsWire, text “BigHole” to 21000 (U.S. Mobile Phones Only)

For more information, please visit

Please see full terms of use and disclaimers on the MiningNewsWire website applicable to all content provided by MNW, wherever published or re-published:

Los Angeles, California
310.299.1717 Office

MiningNewsWire is part of the InvestorBrandNetwork.