Enbridge leadership said that traffic on its network has remained at healthy levels. (Source: Shutterstock)
Enbridge (ENB) dropped its toll from $10.7006/ bbl to $9.4877/ bbl for shipping heavy crude from Alberta to Texas on its network, Bloomberg reported Aug. 21.
The change comes three months after Canada tripled capacity to 890,000 bbl/d on the Trans Mountain Pipeline, which ships crude from Alberta to the country’s west coast for export.
Enbridge leadership said that traffic on its network has remained at healthy levels.
During the company’s second-quarter earnings call on Aug. 2, Enbridge President and CEO Greg Ebel said the company planned to ship 3 MMbbl/d on its network in 2024. Apportionment remained in effect on its Mainline, Enbridge’s primary conduit for crude shipments into the U.S. (Apportionment is a type of rationing for pipeline transport.)
Ebel said the company is designing a capacity expansion of the Mainline in the 2026, 2027 timeframe.
In Vancouver, the Trans Mountain Pipeline is credited for a massive increase in traffic. The number of oil takers passing into the port under the Lions Gate Bridge has increased from two to about 20 each month, according to a local researcher, the Vancouver Sun reported Aug. 21.
Recommended Reading
Dividends Declared (Sept. 30 - Oct. 11, 2024)
2024-10-11 - Here is a compilation of dividends and distributions declared from select upstream, midstream and service and supply companies from Sept. 30 to Oct. 11.
Post Oak Backs New Permian Team, But PE Faces Uphill Fundraising Battle
2024-10-11 - As private equity begins the process of recycling inventory, likely to be divested from large-scale mergers, executives acknowledged that raising funds has become increasingly difficult.
Delek Logistics Partners Raises $166MM in Offering to Pay Debt
2024-10-11 - Delek Logisitics Partners closed an offering of 4.42 million common units to generate gross proceeds of $166 million.
Citgo Auction in Jeopardy as Venezuela Bondholders Pursue Parallel Claims
2024-10-11 - The court cases have increased uncertainty over which company is best positioned to take over the seventh-largest U.S. refiner Citgo Petroleum.
Quantum’s VanLoh: New ‘Wave’ of Private Equity Investment Unlikely
2024-10-10 - Private equity titan Wil VanLoh, founder of Quantum Capital Group, shares his perspective on the dearth of oil and gas exploration, family office and private equity funding limitations and where M&A is headed next.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.