11:35:25 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 856,712,928
Close 2015-10-01 C$ 49.47
Market Cap C$ 42,381,588,548
Recent Sedar Documents

Globe says Valero, Suncor await Western crude shipments

2015-10-02 05:57 ET - In the News

See In the News (C-SU) Suncor Energy Inc

The Globe and Mail reports in its Friday edition that the owners of the two Quebec refineries readying for shipments of Western Canadian crude, Suncor Energy and Valero Energy, say the National Energy Board's decision to approve Enbridge's Line 9 project will provide a boost to their bottom lines. The Globe's Kelly Cryderman writes that Valero spokesman Julie Cusson says, "For us it's a big change because with Line 9, half of our supply will now come from Western Canada." Line 9 would see the flow of the pipeline reversed, from westward to eastward, to bring 300,000 barrels a day of Western Canadian and Bakken oil to Quebec. Line 9 will carry mainly light crude oil once in operation. Shippers, however, will be permitted to ship heavy crude such as diluted bitumen, sourced from the oil sands. The project will use existing pipelines, with no new pipe added. Still, it will add needed transportation capacity for Canadian oil producers in a period when the industry is struggling with both low l prices and the inability to get approval for pipelines that would allow access to new markets. Suncor calls Line 9 "critical infrastructure" that will give its Montreal refinery access to North American oil.

© 2024 Canjex Publishing Ltd. All rights reserved.