Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

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Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Thu Nov 02, 2017 1:35 pm

Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) is a Canadian-registered, publicly traded company engaged in the development and implementation of proprietary technologies for the environmentally safe extraction of heavy oils from oil sands, oil shale deposits and shallow oil deposits. The company is focused on oil and gas exploration and production on mineral leases it owns in Texas with Accord GR Energy Inc. and in expanding production capacity at its Asphalt Ridge heavy oil extraction facility in Utah.

Petroteq Energy's patent-pending application is a closed-loop, solvent-based process, which results in significantly lower per barrel production costs than those incurred with traditional hot water-based oil sands extraction technologies. This green technology utilizes a small, modular footprint, produces no greenhouse gases, requires no high temperatures, leaves only clean dry sand, and could be deployed to unlock heavy oil deposits located around the world.

The company's Asphalt Ridge mineral lease on 3,000-plus acres in northeastern Utah features a large contingent oil sands resource base with an estimated 87 million barrels of oil equivalent. In 2016, the company produced 10,000 barrels of oil from the Utah location and plans to increase production are underway. Utah holds over 32 billion barrels of undeveloped oil sands resources, which are also known as "oil-wet" deposits containing a mixture of sand and a dense, extremely viscous form of petroleum referred to as bitumen or tar. A recent upswing in developing domestic energy sources has intensified interest in technological advances such as Petroteq's Liquid Extraction System.

The company's Texas location includes an ownership interest (46%) in 7,000 acres under mineral leases with Accord, a Houston-based oil and gas exploration company that focuses on the development and recovery of heavy oil reserves and deposit. Two enhanced, licensed oil recovery technologies designed to increase oil recovery from more than 80 shallow oil wells on the property are expected to substantially improve the recovery rates of heavy oil deposits in this area. In both the Utah oil sands and traditional oil patch Texas project, the company, its subsidiaries and Accord are using proprietary technologies, processes and methodologies to recover heavy oil, providing a distinct, strategic economic advantage for Petroteq Energy and its shareholders.

The company continues to evaluate the development of other medium to heavy oil exploration, production and recovery projects on a global basis through a variety of structured agreements. These opportunities or other arrangements with private and governmental entities that utilize Petroteq Energy's proprietary licensed technologies are expected to generate a significant return on investment.

The company's management team, board of directors and officers form an invaluable cross-section of industry leaders with extensive experience ranging from chemical engineering and solvent research, business development, international project management, entrepreneurial achievements, and senior management for global energy companies in North America and the Middle East. This impressive knowledge base covers both conventional and unconventional oil and gas projects and production, both in upstream and downstream industry sectors.
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Re: Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Thu Nov 02, 2017 4:32 pm

NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Founder Provides Interest-Free Loan to Fund Expansion Plans

Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF), a company focused on the development and implementation of environmentally friendly heavy oil processing and extraction technologies, this morning announced that its founder and CEO, Alex Blyumkin, has provided an interest-free unsecured non-convertible loan of up to $2 million aimed at funding Petroteq’s operations and expansion plans. Per the update, $200,000 of this total has already been advanced. “My personal investment demonstrates the confidence that I have in the future of the Company,” Blyumkin stated in the news release. “We restructured our operations and balance sheet to facilitate the growth of our business and we are executing accordingly. With the increase in capital, we will have the ability to accelerate our production capacity to create future revenues for our business once the plant is put into production.” This larger facility serves as a key portion of Petroteq’s growth strategy and is expected to expand the company’s production capacity from 250 to 1,000 barrels per day. Petroteq anticipates that the plant will reach full production by February 1, 2018, with revenues from its operation being reported for the second quarter ending on February 28, 2018.
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Re: Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Fri Nov 03, 2017 3:43 pm

Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) is “One to Watch”

- Proprietary, closed-loop extraction process significantly lowers production costs
- Patent protection applications are filed in 30 countries with significant oil sands reserves
- Environmentally-friendly system eliminates need for polluting tailings ponds
- Valuable, producing oil sands resources owned and operated in Texas and Utah

Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) is a Canadian-registered, publicly traded company engaged in the development and implementation of proprietary technologies for the environmentally safe extraction of heavy oils from oil sands, oil shale deposits and shallow oil deposits. The company is focused on oil and gas exploration and production on mineral leases it owns in Texas with Accord GR Energy Inc. and in expanding production capacity at its Asphalt Ridge heavy oil extraction facility in Utah.

Petroteq Energy’s patent-pending application is a closed-loop, solvent-based process, which results in significantly lower per barrel production costs than those incurred with traditional hot water-based oil sands extraction technologies. This green technology utilizes a small, modular footprint, produces no greenhouse gases, requires no high temperatures, leaves only clean dry sand, and could be deployed to unlock heavy oil deposits located around the world.

The company’s Asphalt Ridge mineral lease on 3,000-plus acres in northeastern Utah features a large contingent oil sands resource base with an estimated 87 million barrels of oil equivalent. In 2016, the company produced 10,000 barrels of oil from the Utah location and plans to increase production are underway. Utah holds over 32 billion barrels of undeveloped oil sands resources, which are also known as “oil-wet” deposits containing a mixture of sand and a dense, extremely viscous form of petroleum referred to as bitumen or tar. A recent upswing in developing domestic energy sources has intensified interest in technological advances such as Petroteq’s Liquid Extraction System.

The company’s Texas location includes an ownership interest (46%) in 7,000 acres under mineral leases with Accord, a Houston-based oil and gas exploration company that focuses on the development and recovery of heavy oil reserves and deposit. Two enhanced, licensed oil recovery technologies designed to increase oil recovery from more than 80 shallow oil wells on the property are expected to substantially improve the recovery rates of heavy oil deposits in this area. In both the Utah oil sands and traditional oil patch Texas project, the company, its subsidiaries and Accord are using proprietary technologies, processes and methodologies to recover heavy oil, providing a distinct, strategic economic advantage for Petroteq Energy and its shareholders.

The company continues to evaluate the development of other medium to heavy oil exploration, production and recovery projects on a global basis through a variety of structured agreements. These opportunities or other arrangements with private and governmental entities that utilize Petroteq Energy’s proprietary licensed technologies are expected to generate a significant return on investment.

The company’s management team, board of directors and officers form an invaluable cross-section of industry leaders with extensive experience ranging from chemical engineering and solvent research, business development, international project management, entrepreneurial achievements, and senior management for global energy companies in North America and the Middle East. This impressive knowledge base covers both conventional and unconventional oil and gas projects and production, both in upstream and downstream industry sectors.

For more information, visit the company’s website at www.Petroteq.energy
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Re: Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Mon Nov 06, 2017 6:04 pm

NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Announces Entry into Blockchain-based Co-Development Agreement

Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF), a company focused on the development and implementation of environmentally friendly heavy oil processing and extraction technologies, this morning announced its entry into a co-development agreement with First Bitcoin Capital Corp. (OTC: BITCF) through which the companies intend to develop a new supply chain management platform, based on advanced blockchain technology, to be used in the global oil and gas industry. “As a company focused on the development and implementation of proprietary technologies for the environmentally safe extraction of heavy oils, we understand the importance of developing new technologies, especially blockchain-based innovations, to help companies in our industry to get competitive advantage and cost efficiency,” Alex Blyumkin, CEO of Petroteq, stated in the news release. Per the agreement, Petroteq and First Bitcoin Capital will share industry experience and financial and technological resources with the goal of developing and operating an enterprise-grade, blockchain-based platform that will enable oil and gas companies globally to conduct transactions.
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Re: Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Wed Nov 15, 2017 6:08 pm

Blockchain to Enable Frictionless Transactions, Transparency to Ease Complexities of Global Oil & Gas Industry

NetworkNewsWire Editorial Coverage: The oil and gas industry has always been a breeding ground for innovation and the adoption of new technologies, like 3-D seismic mapping and hydraulic fracturing. While a majority of such bleeding-edge tech has been implemented in field operations, back-office procedures such as supply chain management have lagged behind. Digital technologies are increasingly being used to increase profit margins via back-office enhancement, providing disruptive advantages to operators at every scale. From augmented reality and predictive financial systems to distributed open-ledgering blockchain technology, the oil and gas industry is evolving to create a major opportunity for aggressive participants such as blockchain early adopter Petroteq Energy, Inc. (TSX.V: PQE) (OTCQX: PQEFF) (FRANKFURT:MW4A) (PQEFF Profile). This is a trend that’s also successfully pursued by tech juggernauts such as Amazon, Inc. (NASDAQ: AMZN), IBM (NYSE: IBM), Microsoft Corp. (NASDAQ: MSFT) and Oracle Corp. (NYSE: ORCL).

The oil and gas industry is saddled with expensive upstream exploration and development, as well as persistent downstream efficiency challenges. This inescapable reality has ignited a firestorm of activity around blockchain-enabled systems that can create real-time situational awareness and help offset associated costs and complexities. These blockchain-enabled systems can function as active transparency systems for the supply chain and are destined to further evolve into largely self-governing cognitive networks which can reduce the cost of activities such as payment transactions by up to 30 percent. But the power of cryptographically-secured and decentralized (nodal) peer-to-peer network technology like blockchain, which essentially self-monitors (while providing inherent reliability and redundancy), doesn’t stop at improving transaction handling. This technology will eventually touch every component of the increasingly complex hydrocarbon supply chain, resulting in transformative logistical advantages across key supply chain components ranging from production sites and refineries to pipelines, terminals and short-term storage facilities. This transformative capability will also help revolutionize activity at shipping and port infrastructure, as well as at the eventual points of sale.

For a company like Petroteq Energy, Inc. (TSX.V: PQE) (OTCQX: PQEFF) (FRANKFURT:MW4A), known for its patented solvent/surfactant-based high-capacity bitumen extraction process for cleanly exploiting raw oil sands, the move to develop a blockchain-based platform in conjunction with First Bitcoin Capital Corp. (OTC: BITCF) is as natural as it is well-timed. Petrobloq (https://petrobloq.com/) is specifically designed to meet the supply chain management needs of the oil and gas sector and the unique complexities and challenges of upstream, midstream and downstream industries.

Oil and gas companies face intraday fluctuations in supply and demand, as well as a constantly changing geopolitical atmosphere and increasing regulatory oversight. Paired with the underlying difficulty of exploration and production, these complexities reveal the critical nature and need for efficient supply chain management.

As Petroteq and First Bitcoin understand, the supply chain must extend beyond the product that a company produces and into ancillary supply chains required to produce its product. Their Petrobloq solution is designed as an intelligent supply chain that learns market conditions and helps the user adapt to market variables – a feature that stands to benefit a wide variety of sectors.

“Blockchain technology has the potential to change not only the oil and gas sector but also other areas of the global business world, leading to improved and optimized efficiency of the end-to-end business transaction processes,” First Bitcoin Capital CEO Greg Rubin explained in the press release announcing Petroteq’s $500,000 contract (http://nnw.fm/fBui0). Notably, Rubin is a first-mover in the blockchain arena, which adds weight to the creation of this new blockchain-based platform.

Rubin is an international energy products investor with 10 years of experience working in the Russian oil market in a variety of roles, including engineering, site planning, drilling, geophysics, and refinery operations. His international experience includes planning oil and gas infrastructure projects, oil product commerce and trading, energy, technology, refinery development and the Carbon Credit Market. Through his analysis of the commodities and financial markets worldwide, Rubin has applied his expertise in management, investor relations, market analysis and business philosophy to usher CoinQX Bitcoin and ALTcoin Exchange into future opportunities.

Under his guidance, First Bitcoin Capital has chosen the Hyperledger blockchain, a product developed by the Linux Foundation-led open-source cross-industry collaborative Hyperledger Project, as the core technology for the new Petrobloq platform. First Bitcoin Capital will also build for Petroteq a smart contract system prototype on a blockchain to improve the efficiency of oil and gas supply chain management interactions. Taking advantage of distributed ledgers, the two companies will explore ways to optimize and monitor the supply chain logistics on the blockchain to automate oil and gas industry transactions.

“We have begun a journey with First Bitcoin Capital to exploit the potential of this new technology. We are very pleased with the cooperation with the team and will begin to develop a first blockchain proof-of-concept. We look forward to seeing these blockchain applications applied to our business,” stated Petroteq CEO Alex Blyumkin.

While blockchain technology shows incredible potential for companies like Petroteq and other oil and gas players, the success of such application can be found outside the industry entirely.

Amazon (NASDAQ: AMZN) is certainly no stranger to disruptive technological innovation, having kicked open the e-commerce door in the 90s for retail, in a way that blockchain tech now seems ready to do today for a wide variety of industries. Amazon’s cloud computing unit, Amazon Web Services (AWS), continues to be the company’s most profitable and crushed Q3 expectations, with $4.58 billion in revenues on 42 percent growth. A major move to embrace blockchain last year via a collaboration with Digital Currency Group has placed AWS at the forefront of the quest to create secure and frictionless blockchain-enabled services for companies in finance, insurance and technology.

IBM (NYSE:IBM) has long been at this forefront, seeking to engineer an immutable, transparent and auditable transaction platform based on blockchain. The company’s report on blockchain for the chemicals and petroleum industries deserves a closer look from investors seeking to understand how all of this will play out. The advent of IBM Blockchain, based on the Linux Foundation’s open source and cross-industry promoting Hyperledger framework, has already begun to enable fully transparent and scalable systems for a variety of industries. The potential for this sort of technology in the heavily regulated oil and gas industry, which is plagued in the international market by innumerable and varying governmental oversight requirements, really needs to be taken to heart.

Microsoft (NASDAQ: MSFT) has also seen the potential of the cryptographically secure, shared, distributed ledgering technology that is blockchain. Leveraging the company’s Azure data and AI platform, Microsoft is able to offer unique off-chain data-management and analysis capabilities. A survey this year by Microsoft and Accenture (NYSE: ACN) highlighted blockchain as one of the key areas, in the next three to five years, on which some 70 percent of industry respondents intend to spend significantly more.

Oracle (NYSE: ORCL) is also embracing blockchain technology, with Oracle Blockchain Cloud Services (also using Hyperledger) becoming a way for the company’s customers to easily link existing inventory and supply chain software to a secure, distributed transaction system, irrespective of where that existing software runs. The size and volume of contracts and transactions in the oil and gas industry has always created a panoply of reconciliation and tracking complications among contractors, subcontractors, and suppliers. The emergence of smart contracts enabled by blockchain technology now seems like the inevitable future.

Industry regulation by governments around the world, as well as IoT (internet of things) proliferation, will continue to be driving factors for blockchain-enabled platform development in the oil and gas industry. Demand for oil is increasing steadily according to OPEC’s World Oil Outlook 2017, which recently revised its forecast for 2040 upward by 1.7 million BOPD. There is a tremendous opportunity here for companies like Petroteq, which has taken the opportunity to develop a blockchain platform for the increasingly complex logistical environment of the oil and gas industry.

For more information on Petroteq Energy, visit Petroteq Energy, Inc. (TSX.V: PQE) (OTCQX: PQEFF) (FRANKFURT:MW4A)
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Re: Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Wed Nov 15, 2017 6:16 pm

Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Provides Progress Update on New Oil Extraction Facility

Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF), a company focused on the development and implementation of environmentally friendly heavy oil processing and extraction technologies, today announced the reconstruction of a new large-scale oil extraction facility. As part of the recent corporate restructuring, the company decided to relocate the plant from its location 10 miles from the Temple Mountain Resource Site to the TME mine site. The relocation will increase Petroteq’s production capacity from 250 to 1,000 barrels per day utilizing the company’s unique hydrocarbon extraction technology. Petroteq intends to have the relocated facility producing in February 2018. "With this new facility, we expect an increase in both efficiency and production. There is a tremendous opportunity in the development of our resources near Asphalt Ridge as we anticipate a large contingent oil sands resource base of approximately 87 million barrels of oil equivalent within that region. Over the next several weeks, we will continue to develop and respond to the needs of the new facility," Petroteq CEO Alex Blyumkin stated in the news release.
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Re: Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Thu Nov 16, 2017 7:20 pm

Can Blockchain Technology Revolutionize the Global Oil & Gas Industry Supply Chain?

NetworkNewsWire Editorial Coverage: In some of the world’s more dynamic industries, like the oil and gas sector, companies face huge challenges on a minute-to-minute basis. Intraday fluctuations in supply and demand, paired with geopolitical changes accompanied by regulatory complexities, and the overriding need for a management system that tracks purchases and services in a volatile market, are industry-wide issues facing oil and gas producers. Just a few percentage points in one direction or the other can significantly move the needle on a company’s bottom line (http://nnw.fm/R2pvg). Companies determined to make a difference in their own earnings through the use of innovative, problem-solving ideas include Petroteq Energy, Inc. (TSX.V: PQE) (OTCQX: PQEFF) (Petroteq Profile), Wipro Limited (NYSE: WIT), BP p.I.c. (NYSE: BP), Advanced Micro Devices, Inc. (NASDAQ: AMD) and Riot Blockchain, Inc. (NASDAQ: RIOT).

To that end, if there were a way to steady the financial needle and make that bottom line less susceptible to large-scale surprises, problem-solvers throughout the global oil and gas industry could find a greater sense of security about their supply chain needs. What if the supply chain were intelligent, transparent and able to adapt to market conditions or geopolitical pressures that affect a company’s bottom line in real time? Technological innovations are often found in the oil and gas industry, although most of those improvements have been found out in the field. There’s one innovation, however, that is still finding its way into the oil and gas sector: blockchain technology (http://nnw.fm/3CJku). This decentralized, open-distributed ledger is replicated across many nodes in a peer-to-peer network, using cryptography to minimize the need for oversight, which mitigates the risk of fraud or disputes between the network’s partners.

Bitcoin is the most well-known user of blockchain technology, but this is only one of many uses. Blockchain technology is particularly compelling when it comes to the industries that trade in huge economies of scale coupled with an extremely complex web of suppliers, shippers and contractors. According to a recent Deloitte industry report titled, “Blockchain: Overview of the Potential Applications for the Oil and Gas Markets and the Related Taxation,” (http://nnw.fm/X2wEn), the potential uses for blockchain are growing and could have significant implications for those energy exploration industries. Since the pace at which blockchain will be adopted and will consequently disrupt markets is unclear, the report suggests companies will either need to either work together to drive innovation and next-generation solutions or wait for the market to be disrupted by others.

Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) (PQEFF) is one oil and gas exploration company that refuses to wait and see what others might do, choosing instead to embrace what it sees as the many benefits of blockchain technology. On November 6, Petroteq Energy and First Bitcoin Capital Corp. (OTC: BITCF) announced a co-development agreement to create a new supply chain management platform based on blockchain technology that is specifically geared for the oil and gas industry (http://nnw.fm/l3hJ4). Petroteq Energy is a Canadian-registered holding company engaged in the development and implementation of proprietary technologies for the environmentally safe extraction of heavy oils from oil sands, oil shale deposits, and shallow oil deposits. As part of the agreement, the two companies will share industry experience and financial and technological resources with the intention of developing and operating an enterprise-grade, blockchain-based platform that will enable oil and gas companies globally to conduct transactions.

“As a company focused on the development and implementation of proprietary technologies for the environmentally safe extraction of heavy oils, we understand the importance of developing new technologies, especially blockchain-based innovations, to help companies in our industry to get competitive advantage and cost efficiency,” Petroteq CEO Alex Blyumkin said in the news release announcing the development agreement.

Appropriately, Petroteq has launched a new website dedicated to the joint venture — https://petrobloq.com/ — where problems facing the oil and gas industry are outlined and corresponding solutions are offered. PetroBloq will be the first blockchain-based platform developed “exclusively for the supply chain needs of the oil and gas sector,” providing each of the individual companies involved with cost and time savings, increased transparency, and the ability to effectively mitigate the risk of fraud and disputes amid the constantly evolving geopolitical atmosphere and subsequent market fluctuations.

First Bitcoin Capital CEO Greg Rubin, an international energy products investor with vast experience in the oil and gas industries, says the challenges facing many companies require a new way of thinking.

“Oil and gas companies could benefit from blockchain technology for a range of applications, from optimizing efficiency to transparency in business transactions to securely storing inventory data on the blockchain. In the last few years, the industry has struggled with price volatility and production levels, which has led to cost-cutting efforts, reduced outputs and layoffs,” notes Rubin. “These challenges have prompted many companies to rethink how they operate and to identify new ways to optimize supply chain management and transaction processing. As such, blockchain is gaining traction and broader acceptance by oil and gas industry for its potential to fundamentally change the way certain transactions are conducted.”

The nature of blockchain technology makes it ideal for any kind of records management activity, including land transactions, sales of oil and gas, service contracts, sourcing contracts that often are complex and multi-jurisdictional, or joint ventures. Since all transactions are managed on a blockchain – which are, by definition, chained together and immutable – the management of a specific operation is verifiable and protective for all involved.

Wipro Limited (NYSE: WIT), a leading global information technology, consulting and business process services company, recently announced it has joined with Hyperledger to design and develop open source-based blockchain solutions for enterprise-grade blockchain deployments (http://nnw.fm/FlV6A). Hyperledger is a global open source, collaborative effort created to advance cross-industry blockchain technologies across sectors such as finance, banking, Internet of Things, supply chain, manufacturing and technology.

Another industry heavyweight with an eye on blockchain is BP p.I.c. (NYSE: BP), an integrated global oil and gas company that explores for, produces and refines oil around the world. The company operates in more than 70 countries worldwide and moves energy around the globe, serving more than 12,000 customers and is constantly using market intelligence to analyze supply and demand for its commodities. BP management also recognizes that blockchain technology provides opportunities and challenges for the energy sector, noting blockchains could transform whole industries (http://nnw.fm/B8d5Z).

Advanced Microdevices (NASDAQ: AMD) designs and produces microprocessors and low-power processor solutions for the computer, communications, and consumer electronics industries, including cutting-edge research facilities around the world. Its high-performance computing, graphics and visualization technologies are used as the building blocks for gaming, immersive platforms, and data centers. AMD graphics chips, or “GPUs,” are considered to be an important source of growth for the company’s GPU business as the commercial use of blockchain creates “long term opportunities that are interesting,” said AMD CEO Lisa Su in a Barron’s article (http://nnw.fm/98xuZ).

Riot Blockchain (NASDAQ: RIOT) is a strategic investor and operator in the blockchain ecosystem with a primary focus on the bitcoin and Ethereum blockchains. According to the company’s website, it is a first mover on the Nasdaq as a pure play focused on blockchain technology. Formerly called Bioptix, Inc., Riot Blockchain leverages its expertise and network to build and support blockchain technology companies. It is establishing a cryptocurrency mining operation and an advisory board with technical experience intending to become a leading authority and supporter of blockchain, while providing investment exposure to the rapidly growing blockchain ecosystem (http://nnw.fm/UKXn5).

Transportation companies like United Parcel Service are also among the numerous industries that have announced support of the blockchain technology. In joining the blockchain in Trucking Alliance (BiTA), a UPS spokeswoman said blockchain technology “has the potential to increase transparency and efficiency among shippers, carriers, brokers, consumers, vendors and other supply chain stakeholders.”

The management team at Petroteq agrees, advising on PetroBloq that technology executives in oil and gas companies should consider several key areas in determining whether and how blockchain technology could be of benefit to them:

Transparency and compliance – blockchain by design should enable greater transparency and efficiency. Sharing digital blockchain information in joint-operating agreements could reduce, if not eliminate, the need for reconciliations between companies and for data hubs controlled by third parties.
Smart contracts – The sheer size and volume of contracts and transactions necessary to execute capital projects in oil and gas have historically caused significant reconciliation and tracing issues among contractors, subcontractors and suppliers, in addition to significant challenges in managing logistics for supplies, tracking orders and deploying inventory.
Trading and third-party impacts – Blockchain technologies are beginning to disrupt and open energy trading markets. By trading physical commodities on a blockchain solution, commodity traders could benefit from increased speed of exchange, improved availability of data, and enhanced reliability and auditability as records are verified in near real-time.
The oil and gas industry’s global reach is a complex one with a dizzying array of national regulations and restrictions. Simplifying and improving the supply chain is a high priority for any company centered on profitability. Exploring the benefits of blockchain technology makes not only business sense, but common sense for an industry that must constantly seek a competitive advantage in today’s ever changing economic environment.

For more information on Petroteq Energy, visit Petroteq Energy, Inc. (TSX.V: PQE) (OTCQX: PQEFF)
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Re: Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Wed Nov 22, 2017 6:52 pm

NetworkNewsBreaks — Petroteq Energy Inc.’s (TSX.V: PQE) (OTCQX: PQEFF) Proprietary Oil Extraction Technologies Gain Attention

Oil and gas exploration company Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) is focusing on environmentally safe oil extraction processes at its Texas mineral leases and a 3,000-acre oil-extraction facility in Utah’s resource-heavy country. An article discussing this reads: “Petroteq Energy’s patent-pending application is a closed-loop, solvent-based process, which results in significantly lower per barrel production costs than those incurred with traditional hot water-based oil sands extraction technologies. This green technology utilizes a small, modular footprint, produces no greenhouse gases, requires no high temperatures, leaves only clean dry sand, and could be deployed to unlock heavy oil deposits located around the world.”
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Re: Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Wed Nov 29, 2017 5:46 pm

NetworkNewsBreaks — Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Set to Present at LD Micro Main Event

Oil and gas exploration company Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) this morning announced that it will be presenting at the 10th annual LD Micro Main Event, the largest independent conference for small and micro-cap companies. The company’s presentation will take place on Wednesday, December 6th at 12:00 PM PST at the Luxe Sunset Boulevard Hotel in Los Angeles, California. Petroteq's president Dr. R. Gerald Bailey will be presenting and will also be meeting with investors. Petroteq intends to provide highlights from its business, such as updates on its new large-scale oil extraction facility following its relocation to the TME mine site and its latest investment in the oil and gas industry to create PetroBloq, a blockchain-powered supply chain management platform.
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Re: Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Thu Nov 30, 2017 5:23 pm

Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Taking Cheaper and Cleaner Approach toward Oil Production

- Patent-pending breakthrough technology to extract oil
- Environmentally-friendly and cost effective process to extract heavy oil
- Owns and operates valuable, producing oil sands resources

For over a century, oil has been the lifeblood of the world economy. Even with the advent of new power sources, oil will continue to be an indispensable resource and remain an essential commodity for decades to come. To meet unquenchable demand, the world extracts unrefined crude oil that ranges in density and consistency from thin and light weight to a thick, semi-solid heavyweight oil. Light crude oil pumped from wells commands a higher price on commodity markets, because it produces a higher percentage of fuels when refined. Heavy crude is more expensive and difficult to produce, since it’s very thick and doesn’t flow easily to production wells. Heavy oil is found predominately in tar sands concentrated in North America.

Squeezing oil out of tar sand is an expensive, laborious process. Between two and four tons of tar sand and two to four barrels of water are used to produce a single barrel of oil. Rather than drilling for oil, enormous shovels carve out open pits in the tar sands, scoop out the greasy sand, then haul it to be processed. Mining tar sands and converting it to gasoline releases three times more carbon dioxide than typical oil production and dirties vast amounts of water. Only unrelenting need drives such an economically and environmentally costly process.

With patent-pending technologies, Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) is economically extracting heavy oils from oil sands, oil shale deposits and shallow oil deposits. The environmentally-friendly system is a closed-loop, solvent-based process, which dramatically lowers cost per barrel of production, produces no greenhouse gases, requires no high temperatures, leaves only clean dry sand and can easily be deployed anywhere in the world to unlock heavy oil deposits.

Petroteq has successfully launched its first extraction plant, Asphalt Ridge, in Utah and intends to rapidly scale up capacity throughout the state, which has over 30 billion barrels of previously undeveloped but now economically recoverable oil. Independent engineering estimates project 139,539,001 standard tank barrels (STB) of bitumen in place at the Asphalt Ridge site, which equates to around 87 million barrels of oil equivalent (BOE). Asphalt Ridge is one of Utah’s eight major oil sands deposits.

The price of oil has fluctuated wildly over the last 20 years from around $18 a barrel in 1998 to over $157 in 2008 to about $56 a barrel today. At any price, oil is and will continue to be the lifeblood of the world. Petroteq Energy’s environmentally friendly, cost effective solution looks to be a welcome answer to producing oil in a cheaper and cleaner way.

For more information, visit the company’s website at www.Petroteq.energy
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Re: Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Thu Nov 30, 2017 5:30 pm

NetworkNewsBreaks — Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Posts Letter to Shareholders

Oil and gas exploration company Petroteq Energy’s (TSX.V: PQE) (OTCQX: PQEFF) president and director, Jerry Bailey, this morning released a letter to the company’s shareholders. The letter addresses the company’s strategic direction moving forward and how current efforts will deliver shareholder value. Among other highlights, Bailey explains the motive behind developing Petrobloq, the company’s blockchain technology for the energy industry. “Our organization is designed and dedicated to be flexible and innovative, while challenged to create a new opportunity. Blockchain is poised to be the biggest gamechanger for the energy industry for the next several decades. I am not a blockchain expert, but I will become one, and I am pleased to lead this venture. We have the resources and access to work with the leaders in the industry from our headquarters in California,” president and director Jerry Bailey stated in the news release.
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Re: Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Fri Dec 01, 2017 7:10 pm

NetworkNewsBreaks — Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Acquires Equipment for Asphalt Ridge Expansion; Board Approves Option Grant

Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) today announced the acquisition of a substantial lot of the equipment needed to expand production of its heavy oil extraction facility located at Asphalt Ridge, Utah. Petroteq purchased the equipment, worth approximately $3 million, at a reduced price of $838,000. This news follows the company’s previous announcement that it has moved equipment from its 250 bpd facility in Maeser, Utah to its lease site at Asphalt Ridge, Utah. Additionally, Petroteq’s board of directors approved an option grant of 1,425,000 stock options expiring in 10 years to certain directors at an exercise price of $2.27, subject to compliance with applicable securities laws. All options will be subject to a four month hold. "We are looking forward to announcing further progress on our new plant in Utah. The recent decision by OPEC to extend the production cuts will also be a tailwind for us, in that we anticipate that our production supply will find a ready market when we begin production in the new year," Petroteq CEO Alex Blyumkin stated in the news release.
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Re: Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Mon Dec 04, 2017 5:13 pm

NetworkNewsBreaks — Petroteq Energy Inc.’s (TSX.V: PQE) (OTCQX: PQEFF) Petrobloq Collaboration with First Bitcoin Capital Corp. (BITCF) Joins Enterprise Ethereum Alliance

Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) today announced that PetroBLOQ, the company’s collaboration formed with First Bitcoin Capital Corp. (OTC: BITCF), has joined the Enterprise Ethereum Alliance (“EEA”), the world’s largest open-source blockchain initiative. PetroBLOQ’s novel blockchain-based oil and gas supply chain management platform is currently being co-developed by the two companies. Membership with the 200-member EEA represents a wide variety of industries and offers 14 industry-focused, member-driven working groups. “Joining this community of forward-looking enterprises and blockchain innovators is an important step for PetroBLOQ as we develop transformative solutions for the oil and gas industry,” Petroteq Energy CEO Alex Blyumkin stated in the news release. In addition, Petroteq will be presenting at the 10th annual LD Micro Main Event taking place on December 6 in Los Angeles, California.
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Re: Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Wed Dec 06, 2017 5:55 pm

NetworkNewsBreaks — Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Secures Membership in American Petroleum Institute

Oil and gas exploration company Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) today announced that it has joined the American Petroleum Institute (“API”), the sole national trade association representing all facets of the oil and natural gas industry including promoting global safety and influencing public policy. Regarding the strategic move, Alex Blyumkin, CEO of PQEFF stated in the news release, “We are very pleased to join the oil and gas industry leaders of API. API has led the development of operating standards for our industry, and we look forward to contributing our experience with oilfield technologies in addition to introducing our PetroBLOQ platform to its members throughout the supply chain.”
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Re: Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Fri Dec 08, 2017 8:01 pm

Blockchain Technology Creates Potential for Energy Industry Optimization

NetworkNewsWire Editorial Coverage: The stunning rise of bitcoin’s price from under $1,000 at the start of the year to above $11,000 at the start of December has generated an intense scramble by investors to identify opportunities that relate to the cryptocurrency and the blockchain — the distributed ledger that underlies bitcoin. One industry that may be particularly well suited to benefit from blockchain technology is the petroleum fuel market for oil and gas. Petroteq (TSX.V: PQE) (OTCQX: PQEFF) (PQEFF profile) is one energy industry participant that believes in the potential of the blockchain, recently announcing a partnership that positions it to bring the power of cryptocurrency to the sector. It joins other blockchain players such as Riot Blockchain (NASDAQ: RIOT), Marathon Patent Group, Inc. (NASDAQ: MARA), BP (NYSE: BP) and Wipro Limited (NYSE: WIT).

Equipped with patent-pending technologies, Petroteq (TSX.V: PQE) (OTCQX: PQEFF) is economically extracting heavy oils from oil sands, oil shale deposits and shallow oil deposits. The environmentally-friendly system dramatically lowers the cost per barrel of production, produces no greenhouse gases, requires no high temperatures, leaves only clean dry sand and can easily be deployed anywhere in the world to unlock heavy oil deposits.

As part of its strategy to build advanced oil processing and refining facilities around the world, Petroteq encountered an impediment: less-than-optimal global oil and gas industry supply chain channels. Already familiar with the intricacies of the oil and gas industry, Petroteq quickly recognized the business opportunity at hand. In its quest for a solution to overcome difficulties associated with the industry’s supply chain inefficiencies and bottlenecks, Petroteq recently partnered with First Bitcoin Capital (OTC: BITCF) to develop and operate an enterprise-grade, blockchain-based platform called Petrobloq (https://petrobloq.com/) that will enable oil and gas companies globally to conduct transactions.

Petrobloq will constitute the first blockchain-based platform devoted entirely to serving oil and gas industry supply chain needs. The project is designed to address the cost constraints industry participants face in the wake of almost seven years of oil prices languishing at levels far below their $120 peak. Petroteq expects Petrobloq users will realize cost and time savings while benefiting from the increased transparency offered by the blockchain, enabling them to more easily navigate the vicissitudes of an ever-evolving global market.

“As a company focused on the development and implementation of proprietary technologies for the environmentally safe extraction of heavy oils, we understand the importance of developing new technologies, especially blockchain-based innovations, to help companies in our industry to get competitive advantage and cost efficiency,” Petroteq CEO Alex Blyumkin said in announcing the partnership with First Bitcoin Capital (http://nnw.fm/l3hJ4).

The blockchain is an open-distributed ledger system that stores encrypted “blocks” of information over a worldwide connected network of anonymous computers. Because the network stretches over many computers, the “chain” making up the system’s “blocks” is distributed, or spread, over the network in a decentralized manner, meaning that it is not under the central control of any single entity, whether government, individual or company.

As new blocks are created, they are added to the chain linearly according to chronological order, enabling the blockchain to grow indefinitely. All information added is recorded permanently and synchronized across all of the networked computers in the chain so that retroactive editing or alteration of entries is impossible. As a result, the data is “secure by design,” providing a publicly available, verifiable history of all past transactions.

Its robust transparency and resistance to alteration makes the blockchain a powerful tool for records management activity involving any type of digitized assets. Given the heavily regulated nature of the oil and gas industry, with a variety of government protocols and industry specifications related to environmental impacts, refining, taxation, etc., the blockchain offers a secure method for completing tasks required under that framework. These could include real-time data sharing with regulators or exchanging information with joint-venture partners.

The blockchain’s transparency also provides a company’s managers or investors with the ability to audit its history, helping to avoid contract conflicts and adding efficiency to the due diligence process. By potentially saving time and eliminating contract snafus that could lead to millions of dollars in losses, the blockchain may revolutionize the way business is done in the oil and gas industry.

Another area of impact is the ability to reduce the damage caused by hacking attacks. In the wake of attacks on major energy industry players in recent years, the industry may be seen as highly vulnerable on a global basis. The blockchain’s nature as a system that is synchronized and distributed makes it highly resistant to hacking.

“Oil and gas companies could benefit from blockchain technology for a range of applications, from optimizing efficiency to transparency in business transactions to securely storing inventory data on the blockchain,” First Bitcoin Capital CEO Greg Rubin stated in a press release. “In the last few years, the industry has struggled with price volatility and production levels, which has led to cost-cutting efforts, reduced outputs and layoffs. These challenges have prompted many companies to rethink how they operate and to identify new ways to optimize supply chain management and transaction processing. As such, blockchain is gaining traction and broader acceptance by oil and gas industry for its potential to fundamentally change the way certain transactions are conducted.”

Petroteq and First Bitcoin are quickly moving Petrobloq into key industry circles. Earlier this week, Petrobloq joined the Enterprise Ethereum Alliance (EEA), the world’s largest open-source blockchain initiative (http://nnw.fm/19eTr), and the American Petroleum Institute (API), which is the only national trade association representing all facets of the oil and natural gas industry as it promotes safety across the industry and influences public policy in support of a strong, viable oil and natural gas industry on a global level (http://nnw.fm/t3YeL).

“PetroBLOQ is looking forward to leveraging our collective experience in the oil and gas industry and with blockchain technology to help solve the inherent difficulties and complexities up and down the industry,” Rubin stated in the news release.

In addition to its blockchain initiative, Petroteq is expanding production capacity at its Asphalt Ridge heavy oil extraction facility near Vernal, Utah. The company’s leased oil resources contain 87 million barrels, with production expected to start in 2018 toward a goal of 5,000 barrels of oil per day (BOPD) in 2019. In addition, the company owns a minority stake in an exploration and production play in Southwest Texas held by Accord GR Energy Inc.

In a sign of their faith in the company’s prospects, Petroteq’s CEO and chairman have invested $10 million of their own money in the company.

Riot Blockchain (NASDAQ: RIOT) is a company that has been well rewarded for its initiatives in the hot blockchain sector. The company formerly was known as Bioptix, Inc. but changed its focus from biotech to building and supporting blockchain technology companies in October. Riot’s stock has skyrocketed as a result of this strategic shift, rising from under $7 per share early in November to over $15 this month. The company’s objective is to brand itself as a leading blockchain authority and offer investment exposure to the blockchain environment.

In addition to taking steps to establish a cryptocurrency mining operation, Riot has announced a strategic investment in Verady, LLC, which provides accounting standards and auditing services to the cryptocurrency market. This investment, even though it is aimed at a different industry sector, demonstrates that Petroteq is not alone in seeking to take advantage of the power of the blockchain for auditing and accounting purposes.

Another company that has seen its stock price rally substantially after making a move into the blockchain arena — from under $1 to over $4 a share — is Marathon Patent Group (NASDAQ: MARA). Marathon is an IP licensing and management company that recently purchased Global Bit Ventures, a digital asset technology company engaged in the mining of cryptocurrencies. The company believes that this acquisition will help it enhance shareholder value by participating in the revolution in digital transactions made possible by the development of the blockchain. The company believes that blockchain protocols will increasingly be adopted in our day-to-day lives.

Blockchain technology has also attracted the interest of major enterprises. Energy industry heavyweight BP (NYSE: BP), a major integrated oil and gas company with operations around the world, has been following the technology’s development closely. In its corporate magazine (http://nnw.fm/5NtEO), a focus on next generation technologies included an article on the blockchain. The article credits the innovative technology with possessing the potential to disrupt entire industries. BP sees the blockchain as presenting the opportunity to create new business models for trading, supply chain management and retail in the energy industry. As an example of its potential, the article mentions that the company could use the blockchain to process payments directly from the blockchain “wallet” of an automobile driver to a business such as a retail store without involving a bank.

Wipro Limited (NYSE: WIT) provides global information technology consulting and business process services. It recently announced that it will be working in conjunction with Hyperledger on the design and development of enterprise-grade blockchain deployments. Hyperledger is a worldwide, open source, collaborative effort with the goal of advancing inter-industry blockchain technologies in a variety of sectors, including finance, supply chain, manufacturing, banking and the Internet of Things (IoT).

Wipro believes the blockchain to be a prime driver of digital innovation and transformation throughout the enterprise. The company assists its clients in experimenting with and deploying proof-of-concepts on blockchain. In the press release announcing the partnership with Hyperledger, the company’s vice president of Service Transformation said that Wipro has experienced an increase in the demand for the use of Hyperledger by its customers for the purpose of creating blockchain solutions at the enterprise level.

With the use of the blockchain seemingly poised to rapidly expand beyond cryptocurrencies into other industries such as oil and gas, the companies named above offer investors the opportunity to participate, to one degree or another, in the investment potential of the blockchain’s innovative technology.

For more information on Petroteq, please visit Petroteq (TSX.V: PQE) (OTCQX: PQEFF)
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Re: Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Mon Dec 11, 2017 5:59 pm

Petroteq Energy Inc.’s (TSX.V: PQE) (OTCQX: PQEFF) Proposed Blockchain Platform May Reduce the $150B in Disputed Oil & Gas Transactions

- Developing blockchain platform for oil & gas industry
- About 9% of crude oil transactions are disputed
- Distributed ledger technology may reduce transaction & resolution Costs

There are few sectors as large as the oil and gas industry, which by one account reached 48.7 billion barrels of oil equivalent (“BOE”) in 2016 (http://nnw.fm/O3SkO). Despite the depressed prices, revenues climbed to $1,205.6 billion in 2016. West Texas Intermediate (NYMEX WTI) which was trading at over $130 per barrel in 2008 never rose above its current price of $57.75 at any time during 2016. In such a mammoth market, the supply chains crisscrossing the globe are tracked by intricate agreements that span several jurisdictions. With such size and complexity, it is inevitable that contractual disputes arise, resulting in costly reconciliation and resolution procedures. A recent study from Deloitte (http://nnw.fm/aS74k) concluded that ‘around nine percent of crude oil transactions are disputed, which equates to around USD 150 billion each year.’

However, a new Blockchain platform to be developed by Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF), in conjunction with First Bitcoin Capital Corp. (OTC: BITCF), may mitigate some of those frictions. The two companies recently announced a co-development agreement, under which they will develop a new supply chain management platform to be used in the global oil and gas industry, based on advanced Blockchain technology (http://nnw.fm/XnNV8). The new platform is appropriately named Petrobloq.

Petroteq Energy is an oil & gas company focused on the development and implementation of proprietary technologies for the environmentally safe extraction of heavy oils from oil sands, oil shale deposits and shallow oil deposits. The company has developed a unique, environmentally-safe, continuous flow, closed loop technology… a first in North America and probably in the world… that requires no tailings ponds, which contain large quantities of toxic sludge resulting from petroleum extraction. Petroteq Energy was featured in two recent Network News Wire editorials: Blockchain to Enable Frictionless Transactions (http://nnw.fm/4AeOc) and Can Blockchain Technology Revolutionize the Global Oil & Gas Industry Supply Chain (http://nnw.fm/e8chR).

Although commonly associated with cryptocurrencies, Blockchain or distributed ledger technology potentially has many other uses because of its major characteristics. Most importantly, two parties attempting to enter into a transaction will very often know nothing of each other. Consequently, they will typically rely on a trusted third party or intermediary to ensure they are fairly treated. In money transactions, the role of the trusted intermediary is usually taken by a financial institution, which naturally charges for its participation. This gives rise to transaction costs that discourage market participation and may, in some instances, distort markets unduly. However, Blockchain or distributed ledger technology employs a peer-to-peer network and so obviates the need for a ‘referee’ or trusted intermediary.

The distributed ledger aspect of the technology means that new transactions and updates are circulated to all nodes on the network simultaneously. The information in the ledger, which is more like an accounting journal rather than a ledger, is structured and encrypted in such a way that it cannot be altered without agreement by a majority of the nodes in a network (which automatically and simultaneously check the change against the ledger). A transaction is initiated by one party and validated by another using a combination of private and public keys. And since the information is distributed, the greater the number of nodes, the more secure the network becomes. Any attempt at fraud would require the corruption of the same chain in every node in a network simultaneously during the few seconds that the Blockchain is processing a change.

New information is added to the system in “blocks”, which are linked to previous blocks, hence the term “Blockchain”. This history of past transactions further establishes the accuracy and authenticity of transactions since it leaves a trail that can be audited. Thus, the technology can be used in cryptocurrencies, identity documentation, land and share registration and in verifying oil and gas contracts.

For more information, visit www.PetroteqEnergy.com
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Re: Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Tue Dec 12, 2017 6:15 pm

NetworkNewsBreaks — Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Plans to Ease Friction in Oil and Gas Industry with Supply Chain Platform

Oil and gas exploration company Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) recently announced it will be developing a new blockchain platform in collaboration with First Bitcoin Capital Corp. (OTC: BITCF). The new supply chain management platform, named Petrobloq, is under development to be used in the global oil and gas industry. A recent article discussing the potential uses of blockchain reads: “The distributed ledger aspect of the technology means that new transactions and updates are circulated to all nodes on the network simultaneously. The information in the ledger, which is more like an accounting journal rather than a ledger, is structured and encrypted in such a way that it cannot be altered without agreement by a majority of the nodes in a network (which automatically and simultaneously check the change against the ledger). A transaction is initiated by one party and validated by another using a combination of private and public keys. And since the information is distributed, the greater the number of nodes, the more secure the network becomes. Any attempt at fraud would require the corruption of the same chain in every node in a network simultaneously during the few seconds that the Blockchain is processing a change.”
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Re: Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF)

Postby QualityStocks » Wed Dec 13, 2017 6:53 pm

NetworkNewsBreaks — Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) and First Bitcoin Capital Corp. (OTC: BITCF) PetroBLOQ Collaboration Appoints New Advisor

PetroBLOQ, LLC., a collaboration formed by oil and gas exploration company Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) and First Bitcoin Capital Corp. (OTC: BITCF), this morning said it has appointed Joseph Abrams to its Board of Advisors. As co-founder of both Inter-Mix Media Inc. and The Software Toolworks Inc., Abrams brings PetroBLOQ expertise in building emerging growth technology companies. “He has built many successful emerging technology companies and creating tremendous value for investors, and we expect his contributions will be critical to PetroBLOQ as we seek to revolutionize the oil and gas industry through technology,” Petroteq Energy CEO Alex Blyumkin stated in the news release.
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