Williams Pipeline Progress, ExxonMobil Europe Exploration: Your Daily Energy News

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News highlights gathered by Industrial Info Resources (Sugar Land, Texas) dealing with the energy markets.

PIPELINES
Williams CEO: Constitution Pipeline Online as Soon as 2027 - U.S. energy company Williams Companies Chief Executive Officer Chad Zamarin said on Tuesday the long-delayed Constitution natural gas pipeline from Pennsylvania to New York could be ‌operational as soon as the end of 2027, if all goes as planned with the controversial project. According to Industrial Info Resources data, the project was cancelled in 2020 due to problems obtaining a water quality permit.

Zamarin made the comments in Brooklyn, New York, at the groundbreaking of another long-delayed gas pipe, the company's Northeast Supply Enhancement (NESE) project. After years of fighting for permits, especially water permits, from state regulators, Williams canceled Constitution in 2020 and NESE in 2024. Industrial Info Resources is tracking the two pipeline projects, putting the combined total investment value at more than $430 million. Subscribers to Industrial Info Resources' Global Market Intelligence (GMI) Project Database can learn more by viewing the related project reports. (sourced from Reuters)

REFINING
European Refining Margins Turn Negative - European oil refining margins have turned negative, lagging stronger margins ‌in Asia and the U.S., as competition for crude from Asian buyers due to the Iran war drives up costs even as fuel prices hit record highs, according to International Energy Administration (IEA) data and trade sources. Northwest European light sweet hydroskimming margins dropped to an average of minus $6.45 a barrel in the week beginning April 6, the IEA said in its monthly report on Tuesday based on data from Argus Media. Margins for medium sour cracking were also in negative territory, the data showed. ⁠Light sweet cracking margins remain positive, though they have also weakened significantly. (Reuters)

PRODUCTION
ExxonMobil to Begin Exploratory Drilling Off Greece - U.S. oil major ExxonMobil, Energean and Helleniq Energy will sign a contract on Wednesday with ‌Stena Drilling to start exploratory drilling in a western Greek offshore block, Greece's energy ministry said on Tuesday. The consortium will proceed with exploratory drilling in February 2027, a Greek energy ministry official said on condition of anonymity, marking ‌the ⁠country's first offshore exploration drilling in 40 years. (Reuters)

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).