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Enbridge, Inc. (ENB)

  • Oct. 25, 2013, 10:49 AM
    • Enbridge’s (ENB -1%) Northern Gateway stands the least chance of being approved among all of Canada's proposed pipelines, analysts tell a Financial Post panel discussion.
    • TransCanada's (TRP) Energy East and Kinder Morgan’s (KMI, KMP) Trans Mountain are most likely, with the latter benefiting from having built the loop through Jasper before pipeline opposition escalated, one participant says.
    • Another believes that a rejection of the Keystone XL pipeline would not slow down Canadian oil production, given the other pipeline options and growing crude-by-rail shipments, but rejection would mean rising transportation costs.
  • Oct. 11, 2013, 9:48 AM
    • While the Keystone pipeline remains mired in uncertainty, Enbridge (ENB) is working to open a major new pathway to the U.S. Gulf coast for Alberta bitumen, solidifying a commercial link between the world’s No. 3 crude deposit and the Texas refining corridor that has eluded industry planners.
    • ENB is spending $2.8B to twin its Spearhead pipeline from Flanagan, Ill., to Cushing, Okla., and another $1.1B to nearly triple capacity on its Seaway system between the Midwest storage hub and the Houston area.
    • By mid-2014, the two pipelines will be able to transport 775K barrels of Alberta oil for processing at coastal refineries, according to the head of ENB's liquids pipeline unit.
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  • Oct. 7, 2013, 12:14 PM
    • Enbridge's (ENB +1%) Line 9 has run through one of Canada’s most populous corridors for nearly four decades, quietly pumping oil between southern Ontario and Montreal, but the pipeline is thrust into controversy as ENB seeks approval to reverse its flow and increase its capacity.
    • Opponents of the reversal worry that ENB plans to run a heavier and possibly more corrosive kind of oil through the line that will stress the aging infrastructure and increase the chance of a leak.
    • ENB plans to move 300K bbl/day of crude oil through the line, up from the current 240K, with no increase in pressure.
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  • Oct. 2, 2013, 9:05 AM
    • Enbridge (ENB) is in the preliminary stages of talking to producers about a pipeline to carry natural gas to Canada’s west coast for export as a liquid fuel, CEO Al Monaco says while cautioning that the idea remains conceptual.
    • The move could potentially add another project to an increasingly crowded slate of pipelines proposed to shuttle gas to British Columbia, where major energy companies such as Chevron, Shell and Petronas have proposed multi-billion-dollar export terminals.
    • ENB says it is also angling for a bigger share of the natural gas processing and gathering business as export designs firm up.
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  • Oct. 1, 2013, 3:59 PM
    • Enbridge (ENB -1.5%) plans to build a new ~$1B, 200K bbl/day pipeline to bring diluent - used to thin out oil sands bitumen so it can flow through pipelines - to industry players in Alberta.
    • ENB is the dominant Alberta crude shipper, transporting more than 1M bbl/day from the Fort McMurray area to market hubs in Edmonton and Hardisty along its Athabasca and Waupisoo pipelines, and ENB expects eventually to have enough commercial support to build another pipeline to Edmonton and another one to Hardisty by latter part of this decade.
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  • Sep. 27, 2013, 9:40 AM
    • Enbridge (ENB -0.3%) announces plans to construct a 50-km pipeline to serve the Hangingstone oil sands project, which would connect Hangingstone to ENB’s regional system in Alberta; financial terms are not disclosed.
    • The pipeline will have the capacity to transport 40K bbl/day of diluted bitumen produced at Hangingstone to the ENB terminal in Cheecham.
    • Cnooc's (CEO) Nexen and Japan Canada Oil Sands Ltd. are partners in the project, which is expected to produce first oil in early 2016.
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  • Sep. 24, 2013, 12:26 PM
    • Goldman Sachs is bullish on Bakken after it came away from a trip to North Dakota with greater confidence in its outlook that activity in the shale play should exceed expectations, citing producers and drillers who were "uniformly confident" in resource expansion, efficiency gains and potential for improving well performance in coming years.
    • The firm sees production growth of 130K bbl/day to 210K bbl/day through 2016, above the average of 110K bbl/day for the six months up to this July.
    • Buy-rated Oasis Petroleum (OAS +3.4%) and Continental Resources (CLR +3.3%) (earlier) are Goldman's favorites among Bakken-exposed oil E&P companies; also listed as ready to reap Bakken benefits are Northern Tier Energy (NTI +4%), Halliburton (HAL +0.7%), Enbridge (ENB +0.2%) and Canadian Pacific Railway (CP +0.6%).
  • Sep. 23, 2013, 3:43 PM
    • Canadian National Railway (CNI), at the urging of Chinese-owned Nexen (CEO), is considering shipping Alberta bitumen to Prince Rupert, B.C., by rail in quantities matching the controversial Northern Gateway pipeline, documents show.
    • CN denies it has made a specific proposal for Prince Rupert but says it will consider any such project as it comes up.
    • Enbridge's (ENB) proposed Northern Gateway pipeline, which would carry crude oil to Kitimat, B.C., has met fierce opposition from First Nations and environmentalists.
  • Sep. 16, 2013, 5:36 PM
    • A Federal Energy Regulatory Commission rules that rates on the Seaway pipeline are too high, an initial victory for crude oil shippers in a long-running legal battle.
    • According to the ruling filed late Friday, Seaway had proposed tariffs of $3.82/bbl for light crude and $4.32 for heavy crude, after reversing the line in 2012 to flow north-to south in an attempt to allow shippers to drain a glut of crude oil at the Cushing, Okla., storage hub.
    • The 400K bbl/day pipeline, jointly owned by Enterprise Product Partners (EPD) and Enbridge (ENB), is one of few major arteries carrying crude oil from Cushing to the Gulf Coast refining hub.
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  • Sep. 13, 2013, 12:20 PM
    • In addition to settling its dispute with eastern Canada gas distributors over mainline tolls, TransCanada (TRP) also withdraws its $4.5B lawsuit filed against Enbridge (ENB).
    • Details of the arrangement have not been finalized, but the companies have "agreed to a tolling framework which will ensure market access and supply flexibility, while providing cost recovery for TransCanada."
    • The deal paves the way for “resolution of all outstanding disputes” including the lawsuit TRP filed last month against ENB over development of a proposed 27-km stretch of natural gas pipeline near Toronto, the distributors say.
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  • Sep. 13, 2013, 10:37 AM
    • TransCanada (TRP +0.1%) says it reached a distribution agreement with gas companies in Ontario and Quebec that ends disputes over tolls and allows for increased supplies.
    • TRP is still in talks with Spectra Energy (SE) and Enbridge (ENB) subsidiaries and others concerning plans to convert a portion of its mainline gas pipeline to carry oil to the Atlantic coast from western Canada.
    • The agreement provides for a new natural gas transportation path through the planned Parkway pipeline to the Maple corridor near Toronto.
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  • Sep. 9, 2013, 6:45 PM
    • Canadian Natural Resources Minister Joe Oliver is in D.C. stumping for the Keystone XL pipeline (TRP), eager to move Canada-U.S. energy collaboration to "a higher level," following reports late last week that PM Stephen Harper is ready to accept U.S. emission reduction targets.
    • But Canaccord analysts say they may be pitching the merits of a pipeline that no longer matters, believing Keystone is “no longer a necessity” for Canadian oil sands producers thanks to the rise of crude-carrying unit trains and rival pipeline schemes proposed by Enbridge (ENB).
    • The assessment reflects a deepening sense of indifference toward a project that just months ago was billed as critical to continued growth in Canadian oil sands.
  • Sep. 5, 2013, 5:43 PM
    • U.S. refiners increasingly doubt the Keystone XL (TRP) pipeline expansion will ever be built, and they no longer care, as railroads are carrying soaring amounts of crude from Canada to refineries along the U.S. Gulf Coast.
    • Further, Enbridge (ENB) is expanding existing pipes to carry Canadian crude south, and it doesn't need federal permission because it's using existing pipeline rights of way; also, there's so much U.S. oil from its own wells that refiners don't need lots more heavy crude from the north to keep busy.
    • Refiners are moving ahead with other plans: Valero Energy (VLO) had signed to receive oil from Keystone when the project was first announced, but it no longer considers the pipeline critical to its business - "If we just sat around and waited for Washington, we'd never get anything done."
  • Aug. 30, 2013, 8:58 AM
    • Enbridge (ENB), the pipeline company responsible for an 800K-gallon oil spill three years ago in Michigan, receives approval for some dredging activity as part of the cleanup.
    • The Kalamazoo County site won’t house a dredge pad, as was intended, but instead will be used for the removal of “woody debris,” which must be done to clear the river to complete dredging.
    • Earlier this month, ENB was denied a dredge pad permit.
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  • Aug. 26, 2013, 5:20 PM
    • Natural Resources Minister Joe Oliver recalls the specter of the aborted Mackenzie Valley pipeline to warn that resource projects have a limited shelf life, as the government seeks to rally Canadians around pipeline projects under consideration.
    • The projects, including TransCanada's (TRP) Keystone XL and Energy East pipeline proposals plus Enbridge's (ENB) Northern Gateway, face strong opposition from environmentalists.
    • Oliver also evokes historic nation-building projects, such as the Canadian Pacific railway, the St. Lawrence Seaway and the James Bay hydroelectric project in Quebec as evidence that "Canada was not built by naysayers."
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  • Aug. 22, 2013, 2:59 PM
    • Canada’s battle with the EU over a proposal to label oil sands crude dirty is set to intensify as the industry eyes exports from the country’s east coast via projects from Enbridge (ENB), TransCanada (TRP) and others.
    • Even as the government plays down talk of a formal complaint to the WTO against the EU’s fuel quality directive, which gives oil sands-derived fuel a greenhouse gas intensity value 22% higher than conventional crudes, it also is in the process of commissioning a study to probe the methodology behind the EU measure.
    • By challenging the science behind the directive, "it makes this look more like a trade barrier... like they’re discriminating against Canadian products," a trade expert says.
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Company Description
Enbridge Inc transports and distributes crude oil and natural gas. It is also engaged in natural gas gathering, transmission and midstream businesses and power transmission.
Country: Canada