PetroBloq will be the first blockchain based platform developed exclusively for the supply chain needs of the Oil and Gas sector. It's been nearly seven years since the sector has seen $120 barrels of oil and the price is less than half that today.
In utilizing Blockchain to meet the supply chain needs of oil and gas producers, it is anticipated that Petrobloq users will enjoy cost and time savings, increased transparency and the ability to mitigate the constantly evolving geopolitical atmosphere and market fluctuations.
Petroteq Energy Inc. 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 and oil sands, oil shale deposits, and shallow oil deposits. They engage in the development and implementation of its patented environmentally friendly heavy oil processing and extraction technologies. Their proprietary process produces zero greenhouse gas, zero waste and requires no high temperatures.
Mr. Blyumkin’s CEO has stated: PetroBloq recently opened its development labs for blockchain solutions for the oil and gas industry and looks forward to being at the forefront of the deployment of technologically advanced solutions for our industry.”
The company believes that PetroBloq’s platform will make oil production, the facilities maintenance and capacity upgrades more cost efficient and transparent. Additionally, PetroBloq intends on the platform providing a safer working environment for its users and its employees.