Enbridge Inc. needs to add an analysis of potential oil spills into Lake Superior watershed and submit a revised environmental impact statement (EIS) to proceed with its Line 3 pipeline replacement project, a Minnesota regulator said on Oct. 1.
The order from the Minnesota Public Utilities Commission comes as the company struggles with delays amid ongoing disputes with regulators. Enbridge has 60 days to submit its revised EIS.
The commission was ordered to revise Enbridge's EIS for the project in June after a court determined the previous assessment was inadequate.
Line 3, part of Enbridge's Mainline network that transports western Canadian oil to Midwest refineries, is expected to be in service by the second half of 2020 but many oil industry participants are concerned it will be delayed beyond that.
The project would double capacity to 760,000 barrels per day, providing much-needed relief from congestion on existing Canadian pipelines.
Enbridge was also recently ordered to stop its Mainline overhaul plan due to the "perception of abuse of Enbridge's market power" by the Canadian Energy Regulator.
The parties must now renegotiate a deal that would transfer Breitburn's Permian reserves to investors including Elliott and WL Ross through their participation in a $775 million rights offering.
Oil major Exxon Mobil said Jan. 31 it would create three new separate E&P companies, effective April 1, in an effort to double its profit by 2025.
Norway's Aker BP beat third-quarter operating profit forecasts on Oct. 19 helped by higher oil prices and trimmed its plans for capital and exploration spending.