14:45:28 EDT Thu 28 Mar 2024
Enter Symbol
or Name
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CA



Enbridge Inc
Symbol ENB
Shares Issued 863,655,440
Close 2015-11-17 C$ 49.63
Market Cap C$ 42,863,219,487
Recent Sedar Documents

Globe says Enbridge, rival feel chill of oil slump

2015-11-18 05:35 ET - In the News

Also In the News (C-TRP) TransCanada Corp

The Globe and Mail reports in its Wednesday edition that Canada's pipeline companies are starting to feel the pinch of the oil slump. The Globe's Kelly Cryderman writes that mid-stream companies such as pipeline operators cannot completely sidestep headwinds from prices hovering near $40 (U.S.) a barrel. Growth plans for future years might be tempered, analysts say, and jobs are already being lost. On Monday, Enbridge announced it has cut 500 full-time jobs and 100 unfilled positions, representing 5 per cent of its workers. TransCanada, which cut one-fifth of its senior executive ranks in September, will complete its restructuring, including more job reductions, by the end of the month. Those companies still hope to proceed with projects to get Canadian oil sands crude to international markets, including TransCanada's $12-billion cross-Canada Energy East project, or Enbridge's expansion of its cross-border Alberta Clipper line. However, with a slowing rate of oil sands growth big pipeline projects beyond those currently proposed are increasingly unlikely. FirstEnergy analyst Steven Paget says, "I don't think anyone is going to propose a new pipeline out of Western Canada for oil any time soon."

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