Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) believes the strategic placement of its Asphalt Ridge Facility could prove advantageous for the company’s heavy oil product. A recent article discussing the company reads: “Petroteq believes that its heavy oil product has promising market potential, as the company’s Asphalt Ridge Facility is located in close proximity to major oil refineries in Utah. The company anticipates pricing to closely track that of West Texas Intermediate, as refiners are already accustomed to purchasing and using Utah heavy oil as part of their refining mixes. … As Petroteq progresses in its operational activities, primary aspects of the company’s operations and proprietary solvent processes are being reviewed and vetted by company president and Director Dr. Jerry Bailey, and by company CTO Vladimir Podlipskiy. A great deal of new equipment has been added to the enhanced Asphalt Ridge facility, and the company is finding opportunities to refine its techniques for more efficient production.”
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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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