Energy In-depth: Two Weeks After Arkansas-Vietnam Pact, Murphy Oil Makes A Deal

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TWO WEEKS AFTER ARKANSAS-VIETNAM PACT, MURPHY OIL MAKES A DEAL
Oil industry trade publication Rigzone reported this week that Vietnam’s national oil company signed pacts with El Dorado-based Murphy Oil Corp. to strengthen cooperation in oil and gas projects in the Southeast Asian country.

According to the story, PetroVietnam Chairman Nguyen Xuan Son signed a memorandum of understanding (MOU) with Murphy Oil CEO Roger Jenkins to boost cooperation in petroleum projects, noting that the U.S. company has the financial potential, expertise and technology for exploring, surveying and exploiting oil and gas resources, especially in new areas and in deep sea regions.

The news comes after Gov. Asa Hutchinson signed a MOU with Vietnam’s Dong Nai Province in late June. Although largely ceremonial, a MOU is a usually a normal first step in building or strengthening business or governmental relations between two entities.

INTERIOR DEPARTMENT ADOPTS NEWS RULES TO PROTECT GROUNDWATER FROM COAL MINING HAZARDS
The Interior Department released new proposed rules on Thursday to prevent or minimize impacts to surface water and groundwater from coal mining. The new regulations would protect about 6,500 miles of streams nationwide over a period of 20 years, preserving community health and economic opportunities while meeting the nation’s energy needs, said Interior Secretary Sally Jewell.

The proposed Stream Protection Rule would require coal companies to test and monitor the condition of streams that their mining might impact before, during and after their operations. This feature would provide baseline data to ensure that operators could detect and correct problems if or when they arise. The proposed rule, upon publication in the Federal Register, will be open for public comment for a period of 60 days.

EMPIRE DISTRICT ADDS ELECTRIC HYBRID VEHICLES TO FLEET
Missouri-based Empire District Electric Co., which has operations in Northwest Arkansas, has added five Ford Fusion Energi plug-in electric hybrid vehicles to its fleet. The vehicles can achieve the equivalent of 88 miles per gallon when operating in combined electric/gas mode, company officials said.

This will provide about $900 in annual fuel savings compared to the company’s standard gas-powered fleet vehicle. According to Empire VP and COO Kelly Walters, “Including plug-in electric hybrids in our fleet is a natural fit for Empire. They will help us hold down fuel costs and lower vehicle emissions.”

Based in Joplin, Mo., Empire Electric is an investor-owned utility providing electric, natural gas and water service to nearly 218,000 customers in Missouri, Kansas, Oklahoma, and Arkansas.

TRANSIT OFFICIALS PREPARE FOR TRANSITION TO COMPRESSED NATURAL GAS
TB&P content partner KUAR FM 89.1 News reports that the Central Arkansas Transit Authority unveiled its new compressed natural gas fueling station Tuesday – a first step in a plan to transition its entire fleet of buses to CNG instead of diesel within the next 10 years. Read more at this link.

USDA ACCEPTING LOAN APPLICATIONS ON BIOFUELS MANUFACTURING PROGRAM
Agriculture Secretary Tom Vilsack announced Thursday that the USDA is accepting applications for funding under a program that supports the production of advanced biofuels, renewable chemicals, and biobased product manufacturing.

The new program provides loan guarantees of up to $250 million to construct and retrofit commercial-scale biorefineries and to develop renewable chemicals and biobased product manufacturing facilities. Two funding cycles are being held. Applications for round one are due October 1. Applications for the second round are due April 1, 2016. For information on how to apply, click here.