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Climate change is no longer a hypothetical problem. It is a real-world problem now. The major shift in the climate globally has impacted almost every aspect of our lives. Several initiatives have been taken across the world to reduce carbon emissions, which are considered the prime contributor to global climate change. Almost 85 percent of industries depend on fossil fuel even though many renewable resources have been introduced, like solar power and biofuel. This is because these alternatives are more expensive and not easily available to several industries globally.
While experts around the world are still working to discover a feasible source of eco-friendly energy resources for industries to bank upon, Petroteq is already leading the way to a greener earth. The oil company extracts oil from sand but does so in the most environmentally friendly way possible. Their process of extraction is a carbon-neutral initiative as the procedure doesn’t lead to any emissions. Moreover, the initiative becomes carbon negative as the process replenishes the soil by removing oil from it, making it more fertile for plants.
Petroteq Energy Inc. is using a combination of technology and strategy to produce around 175 KG/MW or 300 KG/BBL of energy. This innovative technology will serve as a gold standard economically for industries in the coming years. The company is currently planning to drill wells into shallow oil sands at target depths of 600 to1500 ft. and injecting CO2 at high temperatures. This will enhance the recovery of oil while also producing up to 700 KG/BBL or 410 KG/MW making it a carbon-negative process.
This advanced process has brought a revolution to the oil and gas industry across the world. it is proved to be a more viable option compared to renewable sources of energy like solar power and biofuel. This is because solar power may not produce emissions directly but the process of installation, transportation, maintenance, and disposal of a photovoltaic system, generates carbon emissions. In fact, a photovoltaic system produces about 50g of CO2 per kilowatt-hour during the first year of its usage. The impact of using biofuel is almost similar. Biofuel produces crude glycerol as biowaste which is hazardous to the environment.
Going forward, Petroteq Energy Inc wants to bring more such initiatives to help save the planet from harmful industrial emissions. The company is presently working on a project to reduce carbon emissions by 30 to 40 percent. This initiative involves the mixing of the extracted oil from sand with 30 percent of bio-glycerin, a byproduct created from biodiesel production. Bio-glycerin is considered carbon neutral so this will make the whole process environmentally friendly. The fuel created from this combination can be used safely for the transportation of heavy cargo on air, water, and land without producing emissions.
Petroteq is decarbonizing oil and gas production by stopping and ultimately reversing the carbon emissions associated with oil and gas production. The company will continue to grow with more such innovative eco-friendly technologies in the future, which will give a viable alternative resource model to industries across the globe.