12:12:49 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,638,650,944
Close 2017-06-02 C$ 52.73
Market Cap C$ 86,406,064,277
Recent Sedar Documents

Globe says Enbridge eyes bigger U.S. oil pipeline

2017-06-05 09:04 ET - In the News

The Globe and Mail reports in its Monday edition that Enbridge is mulling expansion of a major export pipeline. The Globe's Jeff Lewis writes that chief executive officer Al Monaco says Enbridge is assessing a range of opportunities as it looks to integrate Spectra Energy's sprawling network of pipelines and processing infrastructure into its own operations. They include a possible expansion of the newly acquired Express pipeline from Alberta to Wyoming. The potential for pipeline growth comes as oil sands production nears the upper limits of existing capacity, a situation analysts say will weigh on prices for the extra-heavy crude as producers pay more to ship barrels by train. Enbridge currently transports the bulk of Alberta crude to U.S. markets along its 2.2-million-barrel-per-day mainline network, on which deliveries regularly get curtailed during periods when demand to ship oil exceeds available space. Though there are no firm plans to do so, Mr. Monaco says it is possible Enbridge could expand Express, which runs more than 1,250 kilometres from Hardisty, Alta., to Casper, Wyo., and has capacity of 280,000 barrels. Mr. Monaco says, "We're looking at that at the moment."

© 2024 Canjex Publishing Ltd. All rights reserved.