Our newsletter, The PetroChoice News, is officially a year old. Let’s take a look back at our most popular articles from the past year. They are:
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A recently released survey revealed a majority of consumers feel a sense of anticipation about self-driving vehicles despite a large number also expressing concern over such vehicles.
The survey was conducted by Capgemini, a Paris-based consulting firm. They surveyed more than 5,500 consumers, along with 280 automakers and asked them a series of questions regarding what feelings autonomous vehicles evoked for them. 59 percent said self-driving cars gave them a sense of anticipation, while 52 percent were left with a sense of surprise. However, 48 percent of respondents said autonomous vehicles gave them a sense of fear, while 46 percent had a sense of anxiety.
Read More: GM to Could Sell Facility to Electric Vehicle Startup
Consumers were polled in the United State, China, Germany, France, Sweden and the United Kingdom. Responses to autonomous vehicles were predominately positive, particularly in China and France. Respondents were also overwhelmingly said they would be willing to pay more for a self-driving vehicle. Click here to view the full report.
General motors has announced it will invest $700 million in Ohio and sell one of its shuttered production facilities to an electric vehicle startup, according to reports.
The investment could create several new jobs in the state. GM has already eliminated more than 14,000 jobs in the United States and Canada, a figure that includes several facilities that will close down by the end of 2019. Among the facility the automaker closed was a plant in Lordstown, Ohio, which has not been active since March. That facility will be sold to Cincinnati-based Workhorse Group, an electric vehicle startup who will use the facility to build trucks.
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While the Lordstown facility has not produced vehicles for several months, GM representatives have said the plant will remain in “a state of readiness” before the takeover. The acquisition will also have to be negotiated with the United Auto Workers Union, who represent the facility.
While repairs are one of the biggest expense drivers for fleet managers and owners, licensing costs can also add up quickly and eat into the bottom line.
Keeping on top of all the laws and standards that fleets must adhere to is a huge challenge. The National Highway Traffic Safety Administration (NHTSA), Department of Transportation (DOT), Federal Motor Vehicle Safety Standards (FMVSS) and Occupational Safety and Health Administration (OSHA) all have rules and regulations fleet managers must consider. Add in local and state regulations and it can quickly become overwhelming.
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Many of the biggest administrative costs can’t be avoided entirely. They are often required to remain in compliance with the most basic rules and regulations. In recent years, states have taken steps to streamline processes for things like licensing, which can result in cost and time savings for fleet managers.
“Common administrative costs that can be reduced include relicensing,” George Survant, Senior Director of Fleet Relations for the NTEA, said. “Many states now offer online relicensing for fleet operators, which avoids having an employee bring a large batch of vehicle documents to the local DMV for processing.”
Some states even offer fleet licensing to further streamline the process. This allows fleet owners to avoid annual relicensing and avoid issues with credentials being out of date. It can help avoid fines while also reducing costs. In some cases, fleet vehicles can be registered permanently.
“Another opportunity is to take advantage of fleet licenses in the states where offered,” Survant said. “This allows the fleet operator to use one plate for several years without an annual sticker, which means they don’t have to touch the license plate each year.”
While taking advantage of government programs is helpful, fleet managers must also take steps within their own administrations to reduce costs. Creating detailed maintenance and inspection schedules allow for more oversight over both processes.
“Not have a systemic process for scheduling and tracking when a vehicle needs a state inspection is a missed opportunity,” Survant said. “They can be conducted coincident with scheduled routine maintenance.”
Change is a necessary part of any business and an important part of reducing costs. However, it is important to consider the potential ramifications of those changes and how they may impact regulatory compliance.
“All fleets need to be aware of and comply with NHTSA guidelines, along with OSHA, DOT and FMVSS requirements,” Survant said. “This is in addition to any local version of those agencies, such as state DOT and DMV requirements.”
Changes to safety protocol need to be followed especially closely.
“Any rule that significantly changes a safety procedure needs to be scrutinized carefully, as changes that are perceived to lessen safe vehicle operation can erode operator confidence,” Survant said. “In extreme instance, the fleet manager could be exposed to criminal penalties for ending or eliminating safety practices.”
PetroChoice, one of the leading providers of lubrication solutions in the USA, announces the acquisition of Superior Petroleum based in Crown Point, IN.
Superior Petroleum has been a recognized distributor of high-quality Mobil™ lubricants to the automotive and manufacturing industries in Northwest Indiana and the Chicagoland area since 1921. Superior’s company mission, market services and lubricant programs fall in line with the current PetroChoice commitment to distribution excellence.
With the acquisition of Superior, PetroChoice will add support to their current Chicago distribution efforts with ExxonMobil, and expand their operations into Northern Indiana.
“Superior has always focused on the philosophy of ‘When One Succeeds, We All Succeed,’” said Mark Schweitzer, President and CEO of Superior Petroleum. “Being a Mobil distributor for over 30 years, we are excited to become part of a robust national distributor and offer increasingly more investment that benefits our customers.”
Celeste Mastin, CEO of PetroChoice stated, “I’m delighted that Mark Schweitzer and many accomplished employees at Superior have joined PetroChoice. We are especially appreciative of the long history of operational excellence Mark brings to the PetroChoice OneTeam. Over the last year we have transformed our sales organization and improved our delivery performance to better serve our customers. Superior represents the first of many acquisitions we intend to add to our stronger, more efficient, and customer-focused business platform.”
“ExxonMobil is fortunate to be represented by the finest independent lubricants distributors in North America and throughout the world,” said Nathaniel Hedman, Sales Manager for ExxonMobil’s North America Marketing Business Unit. “We are pleased to continue our legacy of providing a rewarding Mobil™ brand experience, and in this case, with PetroChoice and the fine people of Superior Petroleum.”
RGMichael & Associates and Evans & Associates acted as advisors to Superior Petroleum on its sale to PetroChoice.
About PetroChoice:
PetroChoice is one of the largest petroleum-based lubricant distributors in the United States, providing business solutions for industrial, commercial and passenger automobile customers. The company, is owned by Golden Gate Capital and headquartered in Fort Washington, Pennsylvania, operates locations across the U.S. and employs some of the nation’s most knowledgeable technical experts in lubrication services and equipment. For more information please visit PetroChoice.com.
About Golden Gate Capital:
Golden Gate Capital is a San Francisco-based private equity investment firm with over $15 billion of capital under management. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Other notable mining and industrials investments sponsored by Golden Gate Capital include US Silica, EP Minerals, ArrMaz, Humanetics Innovative Solutions, Springs Window Fashions, Canada Fluorspar Inc. and Atrium Windows. For more information, visit www.goldengatecap.com.
The U.S. Energy Information Administration (EIA)’s monthly drilling report revealed a continuing increase in drilled but uncompleted wells, a trend that began in 2016.
According to the report, there were 8,500 drilled but uncompleted wells, or DUCs, in March of 2019. That was an increase of 26 percent year over year. DUCs include wells where drilling has been finished, but other processes required for production are not yet complete. A majority of these DUCs are oil wells located in the Permian Basin.
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While DUCs have been on the rise in areas more closely tied to oil, they have declined in more natural gas-dominated areas. DUCs in the Appalachian and Haynesville regions have been cut almost in half over the pas three years.
All 1,800 workers trapped in a South African Platinum mine have been rescued, according to that nation’s Department of Mineral Resources.
According to reports, the miners were trapped after an accident blocked a shaft used to enter and exit the tunnels. Miners had to be hoisted to the surface gradually after it was determined the accident did not deal significant damage to the shaft cage. No serious injuries have been reported.
Read More: Four Killed in Crane Collapse
The incident once again brings mining company Sibanye-Stillwater under a microscope, as fatal accidents at its gold mines have risen. Seven miners were killed in an incident in May of 2018, just months after storm damage trapped 1,000 workers underground for more than a day.
Four were killed and several injured after a crane being used to build Google’s new Seattle campus fell to the street below.
According to the reports, crews were disassembling the crane, which was sitting atop one of the campus buildings under construction. The cause of the collapse has yet to be determined. The Washington State Department of Labor and Industries has launched an investigation of the incident and the contractors responsible for the equipment’s removal. The incident comes just months after new OSHA rules covering operation standards went into effect.
Read More: Controlling Fleet Costs Starts with Minimizing Repairs
Reports indicate employees from four different companies were responsible for taking the crane apart. It is believed that weather may have played a factor in the collapse.
German automaker Daimler says it is unsure how North Korea’s controversial leader Kim Jong-Un was able to acquire two of its armored limousines.
According to reports, Kim has been traveling to high profile meetings, including summits with President Donald Trump and Russian President Vladimir Putin, in limousines built by Daimler. Current United Nations sanctions prevent the sale of luxury goods, including limousines, to North Korea. The Asian nation is also sanctioned by the United States, European Union and several other countries and international organizations.
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Representatives from Daimler have maintained that they are unsure of how the vehicles came into Kim’s possession. They said the company has had no dealings with North Korea for more than 15 years and is following all sanctions.
Armed men attacked an oil rig in Nigeria’s delta region, kidnapping three workers early on Saturday, April 27.
The rig is owned by Niger Delta Petroleum Resources. According to reports, one of the workers kidnapped is Nigerian, while the others were citizens of Canada and Scotland. Their identities have not been released. Local authorities have said attacks on civilians in the region have increased in recent weeks. Military troops are searching the areas around the rig for the missing workers.
Read More: Ex-CEO Ghosn Indicted for 4th Time
The Niger Delta, located in southern Nigeria, produces most of the African nation’s crude oil. It has had continuing issues with armed militias and criminal gangs.
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