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Union Pacific Railroad and Shell have signed a memorandum of understanding (MOU) that calls for the exploration and testing of initiatives designed to help UP achieve its goals to reduce greenhouse-gas emissions (GHGs).
The MOU addresses UP's goals to reduce GHG emissions 26% by 2030 and reach net zero by 2050. In addition, the initiatives between the two companies will help Shell achieve its target to become a net-zero energy business by 2050, according to UP's Inside Track blog.
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Union Pacific Railroad today reported second-quarter 2022 operating revenue jumped 14% to $6.3 billion and operating income climbed 1% to $2.5 billion compared with the same period a year ago despite service problems that have plagued the major Class Is in recent months.
UP reported Q2 net income of $1.8 billion, or $2.93 per diluted share, compared with $1.8 billion, or $2.72 per diluted share, a year ago.
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Union Pacific Railroad has partnered with Southwest Texas Junior College to expand the school's Diesel Technology Program in Eagle Pass, Texas.
UP contributed $380,000 to help the college pay for a 2,100-square-foot addition to the diesel technology training facility, as well as the purchase of hands-on training equipment.
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Union Pacific Railroad this week marked the 30th anniversary of Union Pacific de Mexico, the Class I's Mexican franchise that was created on May 8, 1992.
UP has been a "protagonist of growth" amid increased trade between the United States and Mexico in segments including beer, grain, automotive, appliances, metals, coal and finished fuels, wrote Vice President of Mexico, Marketing and Sales Beto Vargas Garcia on UP's Inside Track website. The Class I began doing business in Mexico two years before the North American Free Trade Agreement went into effect in 1994, when Mexico's rail industry was privatized.
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