Enbridge Archives - Page 2 of 7

Enbridge misses fourth-quarter profit estimates on lower Mainline tolls

February 9, 2024

Nasdaq Pipeline operator Enbridge ENB.TO missed fourth-quarter profit estimates on Friday, hurt by lower tolls related to its Mainline crude pipeline system and a decrease in earnings from the company’s gas segment. Enbridge reached a toll agreement for Mainline with oil shippers last year, which was lower than the previous one, after scrapping earlier plans for long-term contracts. Quarterly adjusted core

Enbridge eyes France for offshore wind investments and will avoid US

January 11, 2024

Nasdaq WINNIPEG, Canada – Canadian pipeline company Enbridge ENB.TO is keen on further offshore wind investments in France, but will avoid the United States, where cost and supply chain problems have contributed to offshore projects collapsing, a senior executive said. Rising costs have led to canceled projects in the U.S. and Britain while putting others at risk. The setbacks for offshore wind

Enbridge ordered to close oil pipeline on Wisconsin tribal land

June 19, 2023

Oil Price A U.S. District judge has ordered Canadian pipeline giant Enbridge to close within three years parts of the Line 5 oil pipeline crossing tribal land in Wisconsin and to pay around $5 million for trespassing. The Bad River Band of Lake Superior Chippewa, a Native American tribe, last month sought an immediate shutdown in court, due to erosion of the Bad River

Enbridge books Q4 loss due to goodwill impairment charge

February 10, 2023

Oil Price Canada’s pipeline operator Enbridge (NYSE: ENB) reported on Friday a loss for the fourth quarter of 2022, compared to a profit for the same period of 2021, due to a non-cash goodwill impairment of US$1.86 billion (C$2.5 billion) in its gas transmission reporting unit. Enbridge, which moves large volumes of oil and gas in North America –including on

Enbridge announces Al Monaco’s retirement; names Greg Ebel as President and CEO

October 3, 2022

BOE Report CALGARY, AB, Oct. 3, 2022 /PRNewswire/ – Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) today announced Al Monaco’s retirement as President and Chief Executive Officer and from its Board of Directors effective January 1, 2023. Concurrent with this announcement and after considering internal and external candidates, the Board of Directors has appointed Greg Ebel, currently

Enbridge wins battle to keep crude pipeline case out of Michigan court

August 22, 2022

Yahoo Finance Enbridge Inc. won a battle in its fight with Michigan’s governor to keep its Line 5 pipeline operating after a judge ruled the legal battle over the oil conduit belongs in federal court. Judge Janet Neff of the US District Court for Western Michigan rejected Governor Gretchen Whitmer’s effort to move the case to state court, pointing

Enbridge reports strong 2021 financial results and advances strategic priorities

February 11, 2022

Enbridge Reports Strong 2021 Financial Results and Advances Strategic Priorities …

Enbridge sees two options for pipelines after Canadian regulatory pushback

December 8, 2021

World Oil CALGARY (Bloomberg) –Enbridge Inc. is evaluating two tolling options for its vast Mainline oil pipeline network after a proposal to offer long-term contracts to keep the conduits full was rejected by Canada’s energy regulator. North America’s largest pipeline company will either pursue a modified, incentive-based version of its current arrangement, which allows producers to decide the volumes they

Enbridge announces 2022 financial guidance, increases dividend, and provides update on strategic priorities

December 7, 2021

Enbridge Announces 2022 Financial Guidance, Increases Dividend, and Provides Update on St…

Canada says talks with U.S. over pipeline dispute should start soon

December 1, 2021

Reuters OTTAWA, Dec 1 – Formal talks between Canada and the United States over a disputed Michigan pipeline should start soon, Ottawa said on Wednesday, the latest development in an affair souring bilateral relations. Last month Canada invoked a 1977 treaty with the United States to trigger negotiations over Enbridge Inc’s ENB.TO Line 5, which Michigan wants to shut down on environmental

Enbridge may face tougher fight for oil barrels, lower rates, after pipeline ruling

November 30, 2021

Reuters WINNIPEG — A Canadian regulator’s rejection last week of Enbridge Inc’s plan to sell space long-term on the country’s biggest oil pipeline dealt the company a double whammy that analysts say could hit its bottom line. Enbridge lost a chance to secure shipping contracts for as long as 20 years, and could lose volume to its rival, Canadian government-owned

Enbridge to start oil sands pipeline after years of delays

September 29, 2021

World Oil (Bloomberg) –A long-delayed Enbridge Inc. pipeline extending from Canada’s oil sands to the U.S. Midwest will enter service Friday after years of opposition from environmentalists and indigenous groups. The company said its Line 3 replacement project, which will nearly double the capacity of the older line, is substantially completed and set to be fully operational. Enbridge will begin

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