Enbridge plans huge Canada, US pipeline expansion

Enbridge Inc , Canada’s second-largest pipeline company, reported an 8% fall in quarterly profit as it was hurt by an after-tax charge of $105-million related to certain offshore assets. The company and Energy Transfer on Friday said they will work together to provide crude oil pipeline access to the eastern Gulf Coast refinery market from Patoka, Illinois, a crude storage and blending hub.

CALGARY — Enbridge Inc. and its U.S. affiliate are spending $6.2-billion on a series of projects to bring growing volumes of Alberta and North Dakota light oil to market. The Calgary-based company says it has enough shipper support to go ahead with its light oil market access program, which will see an additional 400,000 barrels per day of light oil flow to refineries in Ontario, Quebec and the U.S. Midwest.

Big shippers, including Imperial Oil Ltd, Exxon Mobil Corp, Suncor Energy Inc, Marathon Petroleum Corp and Phillips 66, have all filed motions with the regulator in protest CALGARY — Enbridge Inc and its crude oil pipeline customers are battling over a plan by the company to try to cut the over-booking of capacity on the massive export network that has played a role in the deep discounting of Canadian crude prices.

The company kicked off a sweeping expansion Wednesday across its pipeline system aimed at moving western Canadian crude to Eastern refineries and preventing bottlenecks in the U.S.

Enbridge Inc. is moving ahead with plans to meet five conditions for the British Columbia government to support its proposed Northern Gateway oil pipeline, after a Liberal re-election made clear terms needed to satisfy officials in the Pacific Coast province.

CALGARY, Alberta (Reuters) - Enbridge Inc's new chief executive kicked off his tenure as head of the main transporter of Canadian oil exports on Wednesday with new plans to get growing volumes of light crude to Eastern markets and prospects for richer earnings. Al Monaco, who took over as CEO on Monday, said a boom in light oil production from sources like the North Dakota Bakken has drastically altered North America's supply outlook, forcing deep price discounts for supplies not linked to international Brent crude and prompting the need for new pipeline routes. ...

CALGARY, Alberta (Reuters) - Enbridge Inc's new chief executive kicked off his tenure as head of the main transporter of Canadian oil exports on Wednesday with new ideas to get growing volumes of light crude to Eastern markets and prospects for richer earnings. Al Monaco, who took over as CEO on Monday, said the boom in light oil production from sources like the North Dakota Bakken has drastically shifted North America's supply outlook, forcing deep price discounts for supplies not linked to international Brent crude pricing and prompting the need for new pipeline routes. ...

Abandoning this industry to oil producing countries with lower standards is not leadership CALGARY — The inability to get oil sands crude to the right markets is costing the Canadian economy dearly, according to a new report paid for by the Saskatchewan government. Each stalled pipeline project means a loss to the Canadian economy of between $30-million and $70-million every day, said the report penned by the Canada West Foundation, a Calgary-based think-tank.