08:45:54 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,687,106,757
Close 2017-12-13 C$ 49.56
Market Cap C$ 83,613,010,877
Recent Sedar Documents

FP says Enbridge warns it is reaching maximum capacity

2017-12-13 09:10 ET - In the News

The Financial Post reports in its Wednesday, Dec. 13, edition that Enbridge says its network of oil pipelines is reaching maximum capacity. The Post's Geoffrey Morgan writes that Western Canada Select heavy oil benchmark dropped sharply on Tuesday from over $36 (U.S.) per barrel as trading opened to $30.64 (U.S.) per barrel mid-day, leading to the widest discount Canadian oil producers have seen in three years compared with the U.S. benchmark West Texas intermediate. Vice-president Guy Jarvis says Enbridge's oil pipeline network is reaching maximum capacity and will remain full even if competing oil pipelines are built in the near term. Enbridge says its system is expected to be at or near capacity through 2021. Mr. Jarvis says: "Under the 'one pipeline scenario,' the outlook for the (Enbridge) mainline is to remain chock full even under the lowest production outlook." He believes Enbridge's Line 3 replacement project would be the first of three proposed oil pipeline projects to be in service. Line 3 would restore 375,000 bpd of pipeline capacity between Alberta and Superior, Wis. The project is still awaiting regulatory approvals but Mr. Jarvis says work is nearly complete in Wisconsin and Canada.

© 2024 Canjex Publishing Ltd. All rights reserved.