- Improvements to Utah plant expand capacity to 1,000 barrels per day
- Environmentally safe, sustainable patented oil sands extraction technology
- Development of PetroBLOQ technology set to improve supply chain management efficiency in oil and gas industry
- Global oil shale market valued at over $13 billion in 2018, with North American producers expected to dominate
Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF), a leading developer and provider of proprietary technology for the energy industry, is at the forefront of developing an environmentally safe solution for extracting shale oil as demand for the natural resource accelerates. The global oil shale market is valued at over $13 billion in 2018 and is expected to register a CAGR of 5.8 percent over the next decade, with North American producers leading the way (http://nnw.fm/3eVBK). Petroteq Energy, which has reached several important milestones in its strategic growth plan, has completed improvements to its Asphalt Ridge Utah Plant that will expand capacity to 1,000 barrels per day. Among the improvements are the installation of new pumps and a motor control center to improve efficiency, as noted by Petroteq CEO Alex Blyumkin.
“The reassembly of the plant at the new location reduces our costs going forward compared to the prior location. The new location, along with the addition of the new motor control center and new pumps to move our proprietary environmentally safe solvent and oil more efficiently puts us in a position to begin…
More from NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that 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, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW 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, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, please visit https://www.NetworkNewsWire.com