Enbridge Inc readies oilsands pipelines for restart; fire not expected to hit 2016 earnings

, Income

Enbridge Inc , Canada’s largest pipeline company, reported a quarterly profit, compared with a year ago loss, as crude shipments increased.

Enbridge Inc. is readying its oilsands pipelines for startup after shutting down parts of the system as wildfires ripping across northern Alberta forced the evacuation of more than 80,000 people.

Canada’s largest pipeline company has resumed operations at its Cheecham oil terminal and is getting ready to restart its Woodland and Athabasca pipelines, Chief Executive Officer Al Monaco said on a conference call Thursday. Getting Enbridge’s network back up is key for oil-sands developers who are also looking to bring back about 1 million barrels a day of production they pushed offline amid the fire risk.

Enbridge doesn’t expect the fires to affect its 2016 financial results or outlook, the company said while reporting a first-quarter profit.


No Comment

  • whoah this blog is great i love studying your posts.
    Stay up the good work! You understand, lots of persons are hunting
    around for this information, you could help them greatly.

Leave a Reply


This site uses Akismet to reduce spam. Learn how your comment data is processed.