15:40:33 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 934,234,152
Close 2016-09-26 C$ 57.12
Market Cap C$ 53,363,454,762
Recent Sedar Documents

Globe says Enbridge's mainline running above capacity

2016-09-26 07:49 ET - In the News

The Globe and Mail reports in its Saturday, Sept. 24, edition that Canada is sending a record amount of oil to the United States, filling pipelines to capacity and threatening to push more crude into railcars. A Bloomberg dispatch to The Globe reports that U.S. imports from Canada jumped 17 per cent to 3.46 million barrels a day last week, the U.S. Energy Information Administration said last week. That is the most since the agency began collecting such information in 2010. Exports have surged as Alberta recovers from wildfires. Supplies from the oil sands are piling up as producers bring back output and projects that had been delayed by the fires come on-line. The stress on existing lines means more crude will be hauled by rail at higher costs and the discount on Canadian crude will likely widen. Enbridge's mainline system, the most important conduit for shipping Canadian crude into the United States, has been running above its 2.4-million-barrel-a-day capacity and was full in August, according to Genscape analyst Ryan Saxton. Other lines, including Spectra Energy's Express and TransCanada's Keystone, were about 89 per cent full last month.

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