IRVINE, Calif., Sept. 18, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, announced today that it is moving forward quickly to close several major joint ventures, close several new energy supply contracts, and is in final negotiations to close on several major energy transactions. All of the Company's divisions are being positioned for significant growth and expansion. Universal Bioenergy is in advance negotiations on some transactions, and other transactions are being negotiated through its other subsidiaries, including NDR Energy Group, Texas Gulf Oil and Gas and Whitesburg Friday Branch Mine.
Some of the transactions that are being negotiated are;
Major Transaction in Negotiations
- Final negotiations with a major multi-billion dollar energy company for a long-term natural gas supply contract
- Final negotiations for a joint venture with a billion dollar energy company to supply its customers with natural gas throughout the U.S.
- Negotiations with a major Midwest electric utility to supply them with thermal steam coal
- Discussions to sell coal to a U.S. Government owned utility with the fifth largest electric power generating capacity in the U.S., that provides electric power in 7 states
- Finalizing approval for a multi-million dollar line of credit to buy natural gas with a major gas supplier to increase revenues
- Plans to export large quantities of thermal steam coal to companies in several foreign countries
- Pending approval of a Power Marketing license from the Federal Energy Regulatory Commission (FERC) to market electric power
- Negotiations with several major electric utilities to sell them electric power to meet their needs for power demand
- Discussions with several major commercial / industrial companies to sell them natural gas to diversify our customer base outside of electric utilities
- Negotiations for a joint venture with several companies to import and sell several million barrels of oil monthly and refined oil products, including diesel fuel, aviation fuel and lubricants