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Enbridge Inc
Symbol ENB
Shares Issued 1,704,602,546
Close 2018-06-12 C$ 42.26
Market Cap C$ 72,036,503,594
Recent Sedar Documents

Globe says TransCanada, others hear oil-patch optimism

2018-06-13 07:51 ET - In the News

See In the News (C-TRP) TransCanada Corp

The Globe and Mail reports in its Wednesday edition that Canada's oil sands producers expect to boost their production by 60 per cent over the next 17 years despite concerns about lack of pipeline capacity and tougher approvals. The Globe's Shawn McCarthy writes that in a forecast released on Tuesday, the Canadian Association of Petroleum Producers (CAPP) said the oil sands will account for virtually all of the industry's growth through 2035, adding 1.5 million barrels a day on top of the 2.6 million it produced in 2017. That bullish outlook, however, depends on an increased export capacity. "Industry has the potential to grow in the coming decades, but only if governments lift barriers to investment and new pipelines get built," the association said. The projected production for 2035 is slightly higher than last year's forecast. "It's up from last year, but it's down substantially from what we should be aspiring to and what is a realistic view of where Canada can be an important energy exporter into the future," CAPP president Tim McMillan told The Globe. Companies are basing their projections on the assumption that three pipeline projects will be completed -- Trans Mountain, Keystone XL and Enbridge's Line 3.

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