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Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 929,227,712
Close 2016-08-03 C$ 53.01
Market Cap C$ 49,258,361,013
Recent Sedar Documents

FP says deal gets more of Enbridge's crude to the Gulf

2016-08-04 09:08 ET - In the News

The Financial Post reports in its Thursday, Aug. 4, edition that despite United States President Barack Obama's rejection of TransCanada's Keystone XL pipeline, new barrels of Canadian crude oil will soon make their way to the U.S. Gulf Coast following a $2.6-billion deal led by Enbridge to buy a U.S. pipeline system. The Post's Geoffrey Morgan writes that Enbridge is joining with U.S. refiner Marathon Petroleum to buy a 49-per-cent interest in two pipelines, the Dakota Access pipeline and the Energy Transfer crude oil pipeline, to provide a new route from North Dakota to refineries in Louisiana and Texas. Canadian oil producers have been pushing for more access to Gulf Coast refineries for years, but had their biggest hopes dashed in 2015 when President Obama rejected TransCanada's application to build the 890,000-barrel-per-day Keystone XL pipeline. This week's deal by Enbridge, however, will allow more Canadian crude and oil sands barrels to flow to those Gulf Coast refineries. Right now, Enbridge's mainline system delivers oil from North Dakota's Bakken formation to refineries in Illinois and those barrels compete for space with volumes from the oil sands.

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