IRVINE, Calif., July 6, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets natural gas, propane, and produces petroleum and coal, announced that NDR Energy Group, its subsidiary, is planning to register the company on several interstate natural gas pipelines to generate more revenues and profits.
Natural gas transportation is one of many new profit centers the Company is planning to pursue to increase its earnings. The Company and NDR Energy Group are planning to increase their revenues and profits by engaging in and taking over many of the services that are currently being provided to them by their natural gas suppliers.
The registration on the pipelines will allow the Company to engage in, Gas Transmission and Delivery via the interstate pipeline system to the Local Utility customers, Natural Gas Scheduling for tracking nominations, confirmations product movement and verification, Gas Nominations, Capacity Releases for the release of transportation capacity on interstate natural gas pipelines, and Pipeline Balancing to match the customer's daily usage with the customer's confirmed pipeline delivery.
Distribution of natural gas is managed and transported through approximately 2.4 million miles of intrastate and interstate underground gas pipeline system through the United States. This total includes 2.1 million miles of local utility distribution pipes; and 300,000 miles of transmission lines. NDR currently, through its gas suppliers, delivers the gas to the local gas utility, also called a local distribution company (LDC), to delivery points located on large interstate and intrastate pipelines. The local distribution companies then transport the natural gas from these delivery points located on the pipelines to households and businesses in their service areas. NDR Energy will take over those services from some of its suppliers.
Universal's President, Vince M. Guest states, "We plan to increase our revenues and profits by engaging in many new activities to increase our revenues and earnings. These gas transportation services are currently being provided to us by our natural gas suppliers and the cost for these services are charged to us, and are included in the price of the gas that we purchase from them. We believe that implementing these new profit centers may generate an additional $0.05 to $0.25 in revenue per mcf, of natural gas that we sell to our customers."
About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, petroleum, coal and propane. We market energy resources to the largest public utilities, electric power producers and local gas distribution companies in the U.S., that serve millions of commercial, industrial and residential customers. We are also engaged in the acquisition and development of existing or recently discovered oil and gas fields, leases and surface coal mines. For more information visit www.universalbioenergy.com
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Safe Harbor Statement - There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.