Vistra Corp. (NYSE: VST) will add two new natural gas units at its Permian Basin Power Plant in West Texas, expanding the facility’s capacity from 325 megawatts to 1,185 megawatts. The decision comes as electricity use grows across the state, particularly in energy-intensive industries tied to oil and gas. The company stated that the project is part of its long-term plan to strengthen the Electric Reliability Council of Texas (ERCOT) grid. Vistra aims to deliver more than 2,000 megawatts of new capacity be ...

Investment Rating - The report provides an "Attractive" industry view for the energy sector in Asia Pacific [7]. Core Insights - Asia (excluding China) is projected to increase energy imports from the US, with potential additional imports of US$51 billion annually by 2028, which would help lower energy costs and diversify supply [2][4]. - The report highlights that US energy exports to Asia could rise significantly, with crude oil, natural gas, propane, and ethane being the primary products [4][12][15]. - The increase in US energy imports is expected to reduce the trade surplus with the US by 11%, with countries like Japan, Indonesia, and India seeing reductions of 18-39% in their current surpluses [11]. Summary by Relevant Sections Energy Import Projections - Asia (ex-China) imported 40 exajoules (EJ) of energy in 2023, accounting for about one-third of its needs, with US imports making up approximately 9% of the region's US$600 billion energy imports in 2024 [4]. - The report estimates that if 30-35% of LNG imports are sourced from the US, energy imports could reach US$51 billion by 2028, and a 50% share would increase this to US$60 billion [4]. Country-Specific Import Data - India: Expected to increase imports from US$10 billion in 2023-24 to US$24 billion by 2028, a US$14 billion increment [5]. - Japan: Anticipated to double its imports from US$12 billion to US$24 billion [5]. - South Korea: Imports projected to rise from US$20 billion to US$26 billion [5]. - Indonesia: Expected to increase from US$1 billion to US$8 billion [5]. Product-Specific Insights - Crude Oil: Asia (ex-China) imported approximately 1.4 million barrels per day (mbpd) of US crude in 2023, with potential to increase by 1.5 mbpd by 2028, translating to over US$30 billion annually [12]. - LNG: Asia (ex-China) imported 26 million tons per annum (mntpa) in 2024, with potential to import 47 mntpa from the US by 2028, equating to US$12 billion annually [13]. - Propane: Asia imports 66 mntpa of propane annually, with US propane being 30% cheaper than Asian benchmarks, indicating a potential for increased imports from the US [15]. Beneficiaries of Increased Imports - Companies such as Reliance, GAIL, and Tokyo Gas are expected to benefit from the increased US energy imports due to lower costs [14][5].

Core Insights - Chevron Corporation (CVX) is actively pursuing hydrocarbon exploration off the coast of Crete, indicating a strategic focus on the Mediterranean's untapped energy reserves [1][5][12] - The Greek government has accepted Chevron's interest in two offshore blocks, expanding the area available for exploration to 47,000 square kilometers [2][4] - Greece's energy strategy aims to reduce dependency on foreign energy sources, particularly Russian natural gas, and is expected to enhance its competitive position in the global energy market [3][8] Chevron's Strategic Moves - Chevron's renewed interest in Greek waters follows a pattern of targeting high-potential energy markets, with the offshore blocks adjacent to existing ExxonMobil-led exploration areas [5][11] - The geological features around Crete are similar to successful oil and gas fields in the region, increasing the likelihood of commercially viable discoveries [6][11] - Chevron's involvement is indicative of a larger shift in the global energy landscape, as countries like Greece become key players in the pursuit of new hydrocarbon reserves [11][12] Greece's Energy Landscape - Greece's energy exploration strategy has transformed, with a focus on energy independence and diversification of resources, particularly in light of EU policies [3][8] - The Greek energy ministry is optimistic that the new exploration blocks will lead to commercially exploitable hydrocarbon reserves, contributing to the country's energy security [8][10] - Greece's strategic location positions it as a potential energy hub in the Mediterranean, further spurred by discoveries in nearby regions like Egypt [7][12]