(BOE Report) – Enbridge Inc. reported a second-quarter profit attributable to common shareholders of $1.4 billion, down from $2.18 billion a year earlier. The pipeline company says the profit amounted to 64 cents per share for the quarter ended June 30, down from $1 per share in the same quarter last year. On an adjusted basis, Enbridge says it earned 63 cents
(World Oil) – Occidental Petroleum Corp. is in talks to sell its OxyChem petrochemical unit in a deal worth at least $10 billion, the Financial Times reported Sunday. The divestment would be the U.S. company’s biggest yet and would create one of the world’s largest standalone petrochemical companies, according to the FT, which cited two people familiar with the matter
(BOE Report)– The chief executive at Trans Mountain Corp. says there should be ample pipeline space to get Canadian crude oil to market until at least 2030 without the need for a whole new project being built from scratch. Mark Maki says at the rate production has been growing, existing pipelines out of Alberta are on track to fill up
(Oil Price) – Canada’s pipeline giant Enbridge Inc. reported on Friday record quarterly earnings for the first quarter of the year as it moved a record-high volume of liquids on its huge Mainline pipeline system in North America. The company booked adjusted earnings of US$1.58 billion (C$2.2 billion), or US$0.74 (C$1.03) per common share, for the first quarter, up from US$1.44 billion
By Tyler Losier, Energy Reporter, Oil & Gas 360 Enbridge seeks up to 20-year contracts for transportation services on its Canadian Mainline pipeline system Enbridge Inc. (stock ticker: ENB), an energy infrastructure company headquartered in Calgary, will be holding an open season for transportation services on its Canadian Mainline pipeline system. As of right now, 100% of the Mainline’s capacity
Michigan Governor orders state’s departments, agencies to halt action on tunnel for Enbridge Line 5 after AG declares Mackinac Straits Corridor Authority law unconstitutional The executive branch of Michigan’s government and Enbridge’s plan to put Line 5 into a tunnel under the Straits of Mackinac have hit a suprise snag. After reviewing the opinion issued by Attorney General Nessel late
Enbridge Inc. (ticker: ENB) announced today that it has closed its previously announced public offering of Cumulative Redeemable Minimum Rate Reset Preference Shares, the Series 19 Preferred Shares, through a syndicate of underwriters led by Scotiabank, BMO Capital Markets, CIBC Capital Markets, and National Bank Financial. Enbridge issued 20 million Series 19 Preferred Shares, inclusive of 4 million Series 19
