Natural Gas News – June 19, 2018
Natural Gas News – June 19, 2018
UPS to Spend $130 Million on New Natural Gas Vehicles, Fueling Stations
Reuters: Package delivery company UPS (UPS.N) on Tuesday said it will invest $130 million to buy 730 compressed natural gas vehicles and build five more domestic CNG fueling stations as the industry moves to shift from petroleum-burning vehicles to those that use less-polluting alternative fuels. United Parcel Service Inc, along with rivals such as FedEx Corp (FDX.N) and Deutsche Post AG (DPWGn.DE) unit DHL, faces pressure from regulators in major cities around the world to lessen the environmental impact of its fleet. UPS has set a goal to have a quarter of the new vehicles it buys running on alternative fuels by 2020. UPS also aims to replace 40 percent of its ground transportation fuel with sources other than conventional gasoline and diesel. “We strongly believe further investment in our natural gas fleet is a key element to help us achieve our long-term goals for reducing our CO2 emissions,” said Carlton Rose, president of global fleet maintenance and engineering for UPS. For more on this story visit ca.reuters.com or click https://bit.ly/2tlHwi6
U.S. Oil Pipeline Companies, Producers Seek Relief from Steel Tariffs
Reuters reported: Major U.S. energy companies including Plains All American Pipeline (PAA.N), Hess Corp (HES.N) and Kinder Morgan Inc (KMI.N) are among many seeking exemptions from steel-import tariffs as the United States ratchets up trade tensions with exporters including China, Canada and Mexico. There have been nearly 21,000 requests overall for exclusions submitted to the U.S. Commerce Department since the Trump administration imposed levies this year. Of those, more than 500 petitions involve pipes and related materials. Initial decisions are expected this month, offering the first clues as to how the administration will balance an agenda favoring oil and gas exports while also supporting the U.S. steel and aluminum industries. For more on this story visit oilandgasinvestor.com or click https://reut.rs/2lh3fUG
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