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Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,695,000,042
Close 2018-04-03 C$ 38.81
Market Cap C$ 65,782,951,630
Recent Sedar Documents

Globe/CP say TransCanada pipeline woes hit light oil

2018-04-04 08:33 ET - In the News

See In the News (C-TRP) TransCanada Corp

The Globe and Mail reports in its Wednesday edition that the same factors which have inflated the discount paid for Canadian oil sands heavy crude compared with U.S. oil are also driving a substantial rise in the discount for light Canadian oil. A Canadian Press dispatch to The Globe says that a report from accountant Deloitte shows the difference between West Texas Intermediate and Edmonton light oil prices widened to $7.32 (U.S.) a barrel in January, an 86-per-cent increase over the average of $3.93 (U.S.) a barrel in the fourth quarter of last year. "We really only have one major market and that major market has been developing their own resources, requiring ours less and less," said Deloitte's Andrew Botterill. "There's optionality for them to buy Canadian oil volumes or not and when there's that optionality, it ends up eroding value for Canada." The lower relative pricing for Canadian crude is partly caused by pipeline capacity constraints as oil production rises in Canada, he said. A key conduit to the U.S. market, TransCanada's Keystone pipeline, remains at lower capacity following a leak in November. Meanwhile, delays continue Kinder Morgan's Trans Mountain expansion and Enbridge's Line 3 replacement.

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