- Oil and gas industry technology developer Petroteq Energy has achieved continuous production standards in oil extraction, processing and sales levels at its Asphalt Ridge site following a temporary shutdown for equipment modifications
- The company’s flagship Clean Oil Recovery Technology (CORT) is an environmentally friendly process for extracting cleaner fuels at the Utah site
- Crude extracted from the Asphalt Ridge site has demonstrated a relatively low sulfur content and a very low base sediment and water (BS&W) content, making it attractive by refinery standards
- Petroteq is aiming to boost production at the Utah site to 4,000 bpd by late 2020, and expects to build on its first CORT licensing agreement announced in July with additional agreements
Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) is entering a brave new stage in its development of a revolutionary closed-loop oil and gas industry technology that it believes will provide a much more environmentally friendly fuel, produce in-demand crude weights at high quality, and boost the company’s profits significantly in the process.
Petroteq’s Clean Oil Recovery Technology (CORT) began to demonstrate its potential last year during recovery of heavy fuel oils from ground surface-level bituminous sands at the company’s aptly named “Asphalt Ridge” facility in Utah’s eastern deserts. Following a temporary shutdown earlier this year to modify and…
NOTE TO INVESTORS: The latest news and updates relating to PQEFF are available in the company’s newsroom at http://nnw.fm/PQEFF
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