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Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 846,632,952
Close 2014-10-08 C$ 51.57
Market Cap C$ 43,660,861,335
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Globe says Enbridge's Flannagan could boost exports

2014-10-09 07:35 ET - In the News

The Globe and Mail reports in its Thursday edition that a surge of Alberta heavy oil may soon hit global markets as new pipelines help companies bypass a contentious ban on United States crude exports. The Globe's Jeff Lewis writes that with major export conduits such as Enbridge's Northern Gateway and TransCanada's Keystone XL stalled, some companies have sought U.S. government licences to re-export Canadian crude from U.S. shores. The shipments are rare but permitted under U.S. rules so long as the oil is not mixed with that country's crude. The volume of such exports could explode over the next six months as deliveries begin on Enbridge's Flanagan South pipeline, says FirstEnergy Capital vice-president Martin King. Enbridge expects to commence shipments on the conduit as soon as December. The pipeline would carry about 600,000 barrels a day of mostly heavy crude from Chicago to Cushing, Okla., where the oil would be transferred to other pipelines for shipment to the U.S. Gulf Coast. Mr. King notes Europe and Asia are potential markets for re-exported volumes. He says crude "numbers could really take off." One observer says it is unclear how big the opportunity might be.

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