Petroteq Energy Inc. is a technology-driven energy company focused on the development and commercialization of a proprietary, environmentally friendly extraction process for heavy oil, bitumen and related hydrocarbons. The company’s core business activity revolves around its patented solvent-based extraction technology, which enables the recovery of high-quality, pipeline-ready oil without the need for water, steam or tailings ponds. By eliminating traditional environmental drawbacks associated with oil sands projects, Petroteq aims to offer a more sustainable and cost-effective alternative to conventional methods.
Petroteq’s patented modular processing facilities are designed for rapid deployment and scalable production. These units can be relocated and adapted to various deposits, reducing capital expenditures and minimizing site disturbance. The company has demonstrated its technology at a pilot plant in Asphalt Ridge, Utah, where it successfully produced commercial-grade oil. In addition to pilot operations, Petroteq has engaged in feasibility studies and field assessments in North America and Central Asia, assessing opportunities to expand its technology to new reserves.
Founded in 2009 and headquartered in Houston, Texas, with research and development facilities in Canada, Petroteq has strategically positioned itself to serve markets in the United States, Canada and selected overseas jurisdictions. The company’s historical milestones include securing key mineral rights in Utah’s Asphalt Ridge formation and establishing joint ventures to explore bitumen resources in Kazakhstan. These partnerships have enabled Petroteq to advance its environmental extraction solutions while aligning with regional energy development goals.
Leadership at Petroteq is spearheaded by Chief Executive Officer Vladimir Kutcherov, a geologist and entrepreneur with extensive experience in oil sands and solvent extraction technologies. Supported by a management team that combines expertise in hydrocarbon processing, environmental engineering and project development, the company continues to refine its systems and pursue commercial-scale opportunities. Petroteq’s long-term strategy emphasizes technological innovation, regulatory compliance and stakeholder engagement to deliver value to resource owners and investors alike.
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