Marcelo B.

𝙎𝙚𝙢𝙥𝙧𝙖 𝘼𝙙𝙫𝙖𝙣𝙘𝙚𝙨 𝙋𝙤𝙧𝙩 𝘼𝙧𝙩𝙝𝙪𝙧 𝙇𝙉𝙂 𝙀𝙭𝙥𝙖𝙣𝙨𝙞𝙤𝙣 𝙬𝙞𝙩𝙝 𝘽𝙚𝙘𝙝𝙩𝙚𝙡 𝙋𝙖𝙧𝙩𝙣𝙚𝙧𝙨𝙝𝙞𝙥 Sempra Infrastructure LLC has partnered with Bechtel Corporation to expand the Port Arthur LNG, LLC export plant in Texas, aiming to double its capacity. Originally tasked with the plant's initial construction, Bechtel will now also handle the expansion, set to increase production to 26 million tons annually, with operations starting in 2027 and 2028. The expansion, still awaiting final regulatory approval, could see Sempra selling a 25% stake to a Saudi aramco subsidiary and securing a supply agreement with INEOS Energy Trading Ltd. This move comes amid broader industry challenges, including project delays and regulatory freezes affecting LNG exports in the U.S. #EnergySector #LNGExpansion #SempraInfrastructure #BechtelEnergy #PortArthurLNG #InvestmentInEnergy https://lnkd.in/g-8fum5i

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The Enverus Global Scout team has maintained an inventory of planned wells for years. We're now paying extra attention to a subset of that data, offshore exploration wells, and more specifically their proximity to existing assets and infrastructure. At very least, it's a rough indicator of development cycle time - how long it would take, in a success case, to start getting newly discovered hydrocarbons to market. And, for those concerned about peak demand, short-cycle development is of course especially important. Here you have six global supermajors' offshore exploration portfolios. Bars represent net wells, classified as short- or long-distance tiebacks or standalone developments. Green dots are a measurement of average portfolio proximity to infrastructure. Lighter shades are as of a year ago, darker shades are current. Some takeaways: ⦁ Eni remains the leader, its exploration portfolio generally closer to infrastructure and thus shorter-cycle. ⦁ Last year, I suggested that low-scoring ExxonMobil and Chevron were a reflection of America's relative lack of concern about peak demand, compared to Euro/UK peers bp, Shell, and TotalEnergies. But now, all except TTE are gaining ground as portfolios shift closer to infrastructure. ⦁ TTE, the notable exception, falls from second to last place on infrastructure proximity. We'll be watching to see if this turns into a trend for the French super. ⦁ BP is the proud owner of the only exploration portfolio that grew in terms of net planned wells. #enverus #enverusglobal

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🚨 Exciting News: U.S. Department of Energy to Release 1 Million Barrels of Gasoline from Reserves! 🇺🇸⛽️ 🔹 The U.S. Department of Energy (DOE) has announced a significant move to release 1 million barrels (equivalent to 42 million gallons) of gasoline from the Northeast Gasoline Supply Reserve (NGSR). This strategic decision aims to alleviate gasoline prices as Americans prepare for the upcoming summer driving season and in anticipation of the U.S. elections later this year. 🔹 “The Biden-Harris Administration is committed to reducing prices at the pump for American families, especially as drivers hit the road for the summer driving season,” stated U.S. Secretary of Energy Jennifer M. Granholm. By releasing this reserve between Memorial Day and July 4th, the administration seeks to ensure a consistent fuel supply in the Northeast during this peak travel period. 🔹 The gasoline will be made available in increments of 100,000 barrels, fostering competitive bidding among retailers and terminal operators. The DOE has identified storage sites in Port Reading, NJ (900,000 barrels), and South Portland, ME (98,824 barrels) for this release. Successful bidders are set to receive their allocations by June 30, 2024, ensuring ample supply leading up to the July 4th holiday. 🔹 Bids for the gasoline release are due by 11:00 a.m. Central Time on May 28, 2024, with the revenues generated from the sale directed to the U.S. Treasury. This initiative forms part of a broader strategy to effectively manage the country’s petroleum reserves and uphold energy security. By injecting nearly 1 million barrels of gasoline into the commercial market, the DOE aims to stabilize prices and provide relief to consumers. 🔹 Established in 2014, the Northeast Gasoline Supply Reserve (NGSR) is the first federal, regional, refined petroleum product reserve containing gasoline. This reserve was initiated following the impact of 2012’s Superstorm Sandy in the northeastern United States. Let’s work together to ensure a steady fuel supply, stable prices, and a smooth summer driving experience for all! 🚗💨 #USDepartmentofEnergy #GasolineRelease #EnergySecurity #FuelSupply #DOEInitiative #GasolineReserve #FuelMarket #EnergyStrategy #FuelPrices #SummerDrivingSeason #EnergySecurity #DOEInitiative #GasolineSupply #USAEnergy #GasolineReserve #FuelMarket #DOEAnnouncement #EnergyNews #GasolineReserveRelease #FuelIndustry #EnergySector #DOEAction #GasolineAllocation #USFuelMarket #GasolineMarket #FuelDistribution #GasolineDistribution #DOEStrategy #DOEReserveRelease #PetroleumReserve #EnergyReserve #GasolineReserveManagement