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The world is facing a huge challenge when it comes to climate change. It impacts the entire planet, and we must all come together to try to combat it. People are proposing renewable resources, electric cars are becoming more popular, and people are even starting to use paper straws. In addition, many huge corporations have to do their part. This includes companies in the oil and gas industry.
Out of all the big names in the oil and gas industry, Petroteq is one that’s on the frontlines of advancing the industry. The company has proposed a set of initiatives that work in changing our environment and making their technology more impactful. They are always looking forward to how to advance their work. Petroteq is an oil company that produces and sells oil and has been making a huge difference since its creation. Petroteq also approaches their work in the most environmentally friendly way.
It may seem like a contradiction that an oil and gas company can be environmentally friendly. Well, that’s not the case for Petroteq. One common suggestion to tackle global warming is to turn to renewable energy resources like solar panels and wind turbines. But according to the numbers, renewable resources can mitigate climate change in the most minimal way. Renewable resources are only able to contribute 20% towards the energy generation in the US in 2020 with a 60% is the use of fossil fuels.
Renewable energy produces similar results when examining the US Transportation sector, where it came in with discouraging 5% of the energy used in land, sea, and air sectors. These numbers point towards the fact that fossil fuels are here, and they will remain the main supply of energy for the next 100 years – at least.
By embracing the reality of this world and its reliance on fossil fuels, Petroteq has proposed carbon-negative solutions to this problem. They are keeping their focus on the power of fossil fuels while assessing options on how to make the oil extraction process greener or even carbon negative. Carbon negative means the removal of more carbon from the atmosphere than is being emitted. Presenting plans to go carbon negative takes a lot of courage, especially in the fossil fuels industry, and Petroteq has done it.
Petroteq plans to reduce up to 40% of its carbon emissions, which is an incredible goal and good news for the environment. Petroteq will achieve this by mixing their oil with 30% bio-glycerin. Secondly, Petroteq is planning to drill wells into shallow oil sands at depths of 600 – 1500ft. These wells will then be injected with carbon dioxide at high temperatures. This will allow Petroteq to be able to isolate a staggering 700 KG/BBL or 410 KG/MW.
These are incredible numbers and these initiatives. Petroteq’s emission-free extraction methods have definitely set the bar for other oil producers to follow suit. If other corporations in the industry choose to follow suit, there will certainly be forward progress in making a positive impact on the climate.
Written in partnership with Ascend
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