Trains carrying crude oil will be restricted to a 40Â mph speed limit in populated areas such as New York under an order by the U.S. Department of Transportation in response to a series of derailments.
April 17, 2015BusinessFuel
GE to Sell Financial Units, Plans to Exit Trucking
General Electric Co. said it will sell most of its GE Capital assets in the next two years, effectively securing the company’s exit from the trucking industry.
April 20, 2015FuelBusinessTechnology
Ford, Telogis Expanding Telematics Partnership to Europe
Ford Motor Co. and technology supplier Telogis said they have expanded their commercial-vehicle telematics partnership to the United Kingdom, with other European markets to follow this summer.
April 17, 2015BusinessFuel
Oil Production Jumps in March Even as US Drilling Collapses
The United States keeps pumping oil at a near-record pace in spite of the collapse in prices over the past year and cutbacks in drilling.
April 15, 2015BusinessFuel
Diesel Falls 3¢ to $2.754; Price Is Lowest Since 2009
Diesel’s national average price fell to the lowest level since 2009, dropping 3 cents to $2.754 a gallon, the Department of Energy reported April 13.
April 13, 2015BusinessLogisticsFuel
Shell Will Buy BG Group for $70 Billion in Cash and Shares
Royal Dutch Shell agreed to buy BG Group Plc for about $70 billion (47 billion pounds) in cash and shares, the oil and gas industry’s biggest deal in at least a decade.
April 8, 2015BusinessFuel
DOE Lowers 2015 Diesel-Price Forecast 3¢ to $2.86
The Department of Energy lowered its 2015 forecast for diesel prices by 3 cents to $2.86 a gallon and said it will average $2.77 for the six months through September.
April 7, 2015GovernmentBusinessFuel
NTSB Urges Increased Safety Requirements for Oil Tank Cars
The National Transportation Safety Board on April 6 urged hazardous material regulators to step up requirements for replacing or retrofitting tank railcars that carry flammable liquids such as crude oil and ethanol with better thermal protection.
April 7, 2015BusinessFuel
Diesel Average Falls Another 4¢, to $2.784 a Gallon
Diesel’s national average price fell 4 cents for a second straight week, to $2.784 a gallon, while gasoline took its biggest drop since January, the Department of Energy reported April 6.
April 7, 2015BusinessFuel
Record Gasoline Output to Curb Biggest US Oil Glut in 85 Years
Refiners are poised to make gasoline at a record pace this year, keeping the biggest U.S. crude glut in more than 80 years from overflowing storage.
April 6, 2015