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Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 934,234,152
Close 2016-09-21 C$ 57.91
Market Cap C$ 54,101,499,742
Recent Sedar Documents

Globe says CN, CP hear NEB sees oil by rail expanding

2016-09-22 06:56 ET - In the News

See In the News (C-CNR) Canadian National Railway Company

The Globe and Mail reports in its Thursday, Sept. 22, edition that the National Energy Board says oil-by-rail shipments are set to climb tenfold within 25 years if no new major pipelines are built. The Globe's Kelly Cryderman writes that the NEB says the country's oil production as a whole is set to grow to 6.1 million barrels a day by 2040, from current production levels of about 3.8 million barrels a day. However, at least 1.2 million barrels of that daily 2040 production will need to travel by rail -- more than 10 times what was transported by rail each day in the first three months of this year, according to the NEB's "constrained-case" model. From the expansion of Kinder Morgan's Trans Mountain pipeline to Enbridge's Northern Gateway project, both the work of the NEB and Canadian pipeline building have increasingly come under scrutiny in recent years. With the construction of major new pipeline projects in doubt, the NEB says the extra costs associated with rail transport will, in turn, dampen investment in the oil and gas sector. "Rail is more costly. And so from a producer perspective, the netbacks are lower," says NEB economist Shelley Milutinovic.

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