06:10:47 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,638,650,944
Close 2017-06-15 C$ 50.31
Market Cap C$ 82,440,528,993
Recent Sedar Documents

FP says Enbridge, Imperial embrace native participation

2017-06-16 09:29 ET - In the News

Also In the News (C-IMO) Imperial Oil Ltd

The Financial Post reports in its Friday edition that equity participation by aboriginals in resource projects is increasingly held up as the key to winning their support. The Post's Claudia Cattaneo writes that as J.P. Gladu, chief executive officer of the Canadian Council of Aboriginal Business, noted, "We know where we get indigenous communities totally on a project and part of it, the last we are going to be doing is protesting against ourselves." So far, aboriginal equity participation in Canadian resources has had mixed results. It did not save projects like the Northern Gateway oil pipeline or the Mackenzie gas pipeline. Enbridge proposed to increase equity ownership and even hand over control of Northern Gateway to aboriginals after recognizing the project needed to better reflect their needs and views. Right from the start, those on the pipeline right of way were offered a 10-per-cent equity stake, as well as jobs and business opportunities associated with construction, and the majority took the offer. However, the improved offer came too late. Imperial Oil and its partners offered a one-third interest in the Mackenzie pipeline to the Aboriginal Pipeline Group, but the project remains on the shelf.

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