Gibson Energy selling truck fleet
TORONTO, ON – Gibson Energy is selling all its Canadian trucking operation, and most of the fleet it operates in the U.S., as it focuses business assets on crude oil infrastructure. Between $275 and $375 million in assets are being sold overall, with the Canadian trucking operation expected to be sold by mid 2019, and non-core U.S. trucking businesses to be sold as early as the end of this year. “Gibson Energy will no longer be thought of as a trucking business,” president and Chief Executive Officer Steve Spaulding said in a Toronto presentation for investors, suggesting that some of the company’s assets simply don’t fit with the company’s vision for the future.
Fighting Friction: Educate yourself on oils and greases
How often have you seen a mechanic going from stem to stern on a truck with a grease gun and filling every fitting he can find with the same grease? It's quick, cheap and easy, but that approach may not be the best option for the truck.
Struggles in oil country
Low oil values have calmed prices at the pump, but they have also hit fleets and owner-operators who serve Canada's famed oil patch. Ritchie Bros. Auctioneers hosted a record-breaking sale in Edmonton this April, reselling about 10,600 pieces of equipment. That is clearly the sign of a struggling industry, especially when you consider that just 46% of the purchased equipment stayed in the province.
A new oil category — with two oils
It's a long journey to the top of the CN Tower. There are 1,776 steps for those who want to climb it; the glass-floored elevators are the world's highest. The Toronto landmark even represented the final stop in a long journey toward a new engine oil category that officially took hold on December 1 - and introduces a significant choice for buyers.
Shell unveils portfolio of next-generation oils
WASHINGTON, DC - Shell Lubricants has officially unveiled its engine oils designed to meet pending CK-4 and FA-4 oil categories that will play a key role in helping to support 2017 emission standards and improve fuel economy. Anxious buyers will even be able to tap into the benefits of T5 10W-30 CK-4 oils as early as this August, before the official December 1 rollout of the American Petroleum Institute oil categories.
Mullen blames ‘disruptive tech’ for low oil value
Murray K Mullen has seen the impact of low oil prices first hand. More than 100,000 jobs, $60 billion in earnings, and $33 billion in capital investments have evaporated, much of it in Alberta. The Mullen Group itself - the largest provider of specialized transportation for Western Canada's oil and gas industry - has laid off more than 1,400 people. Blame a disruptive technology known as horizontal hydraulic fracturing.