Petroteq Energy (TSX.V: PQE) (OTC: PQEFF) recently engaged a software engineering firm to develop blockchain applications for its PetroBLOQ platform (http://nnw.fm/S8kTG). A recent article discussing the company reads: “MetzOhanian, a Texas-based software development and security firm, specializes in building blockchain solutions. Petroteq intends to use blockchain technology to improve efficiency and transparency in its supply chain, leading to major cost savings and enhanced security and trust. … A number of industry experts believe that blockchain will play a major role in boosting the oil industry’s profitability (http://nnw.fm/2Cgzc). Specifically, using blockchain technologies in supply line management could reduce inefficiencies that currently cost the industry a lot of time and money. MetzOhanian, with its Texas roots, is familiar with the supply chain challenges that confront the oil industry. MetzOhanian specializes in creating software for businesses, including business automation, software and hardware integration and supply chain applications.”
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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. Our 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. 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 the company’s website at www.Petroteq.energy
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