18:04:21 EDT Tue 07 May 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 2,024,676,423
Close 2023-06-05 C$ 50.18
Market Cap C$ 101,598,262,906
Recent Sedar Documents

FP/wire say Enbridge cuts what it charges at Mainline

2023-06-06 09:03 ET - In the News

The Financial Post reports in its Tuesday edition that a pipeline price war is brewing in Canada, with Enbridge slashing the rates it charges producers to ship crude on its Mainline system before a rival line starts up next year. A Bloomberg dispatch to the Post reports that the cost to send heavy crude from the Canadian oil hub of Hardisty, Alta., to terminals in Flanagan, Ill., will fall about 12 per cent to $28.80 (U.S.) per cubic metre on July 1, based on current exchange rates, Enbridge said in a regulatory filing. Flanagan is a key stopping point for Canadian oil on its route to refiners on the U.S. Gulf Coast. Canadian oil producers will have more than they need when an expansion of the Canadian government-owned Trans Mountain conduit starts operation early next year. Enbridge has acknowledged that the project -- which will approximately triple the capacity of the line and connect Alberta's oil sands to markets in Asia -- will siphon some business away from its Mainline system. Enbridge spokesman Jesse Semko said, "The new tolls will help to make our liquids system even more competitive and will allow us better to compete for every barrel coming out of the Western Canadian Sedimentary basin."

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