Enbridge Inc (ENB_pa.TO) Key Developments | Reuters.com
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Enbridge Inc (ENB_pa.TO)

ENB_pa.TO on Toronto Stock Exchange

23 Jun 2016
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Latest Key Developments (Source: Significant Developments)

Canadian wildfires to cut oil output by 400,000 bpd in June - EIA
Wednesday, 8 Jun 2016 12:36pm EDT 

The Canadian wildfires will cut production by an average of 400,000 barrels per day (bpd) in June, the U.S. Energy Information Administration said on Wednesday. : The disruptions to oil production averaged about 800,000 bpd in May, with a daily peak of more than 1.1 million bpd, EIA said. . Fort McMurray, Alberta, an oil production hub with a population of 90,000 people, was evacuated in early May as an uncontrolled wildfire ripped through some neighborhoods, destroying about 10 percent of the city's homes. [nL1N18Z1C5] . "While evacuees from the ongoing fires in Fort McMurray have begun to return to the city, a state of emergency remains in place throughout Alberta, Canada, and the temporary shutdown of the area's oil sands production sites continues," EIA said. . To read the full report, click on: ((http://1.usa.gov/1UErB5n)) (Reporting By Jarrett Renshaw) ((jarrett.renshaw@thomsonreuters.com;)(646)(223-6193;)).  Full Article

Canadian regulator recommends conditional approval of Kinder Morgan pipeline
Thursday, 19 May 2016 04:23pm EDT 

National Energy Board: Neb report recommends conditional approval of trans mountain expansion project .Board found that benefits of project would outweigh residual burdens.  Full Article

Canada fire evacuees to get re-entry timeline Wednesday
Wednesday, 18 May 2016 02:54pm EDT 

: Alberta says conditional timeline for re-entry of residents to fire-struck Fort McMurray will be announced on Wednesday For main story: [nL2N18F0EV] (Reporting By Allison Martell) ((Allison.Martell@thomsonreuters.com;)).  Full Article

Canada Energy Minister: will have talks with energy companies soon
Tuesday, 17 May 2016 03:45pm EDT 

: Canada energy minister says will have talks soon with energy companies about impact of spreading Alberta fire Further company coverage: [nL2N18E0M9 ] (Reporting by Ottawa bureau) ((leah.schnurr@thomsonreuters.com;)).  Full Article

Canada wildfire outages could impact Mainline volumes-Enbridge CEO
Thursday, 12 May 2016 04:01pm EDT 

Enbridge Inc : Canada wildfire outages could have impact on Mainline volumes, should not be significant if restarts go as planned (Reporting by Nia Williams in Calgary) ((julie.gordon@reuters.com;)).  Full Article

Enbridge reports Q1 adjusted earnings of $0.76 per share
Thursday, 12 May 2016 07:00am EDT 

Enbridge Inc : Enbridge working to restart regional oil sands pipelines as risk from wildfires in northeastern Alberta moderates . Since shutdown of Enbridge's facilities, deliveries from co's regional oil sands pipelines reduced by about 900,000 barrels per day . Currently expects that system capacity will be restored over the next few days subject to ongoing access to facilities . On may 10, 2016, Enbridge announced acquisition of a 50% interest in EMF, a french offshore wind development company, for $282 million . Impact of the wildfires on the financial performance of the company cannot be accurately estimated at this time . Upon closing of deal, Enbridge,EDF en to co-develop 3 large-scale offshore wind farms that would produce a combined 1,428 (MW) of power . Disruption of service on regional oil sands and downstream pipelines not expected to significantly impact financial performance in 2016 . Commencing with q1 of 2016, Enbridge has adopted a new financial reporting format . From Q1 2016, new financial format focuses on operating, financial performance of five major business lines . Average deliveries on mainline system ex-Gretna and on Lakehead pipeline system in q1 of 2016 were over 2.5 million barrels per day . Enbridge reports first quarter adjusted earnings of $663 million or $0.76 per common share . Q1 adjusted earnings per share C$0.76 . Q1 earnings per share C$1.38.  Full Article

Enbridge inspects sites for safe restart after wildfires
Tuesday, 10 May 2016 11:49am EDT 

Enbridge Inc : Enbridge inspects sites for safe restart after wildfires . Crews have been inspecting facilities and pipelines in Fort Mcmurray region . As fires retreat in some areas, Enbridge workers have been able to conduct field assessments of several of its sites . Currently finalizing plans to repair and restart system and working to assess available utility power supply needed to safely return to service . Inspections of Athabasca and Cheecham terminal facilities indicate they have been largely unaffected by fires . As of May 10, Enbridge Cheecham facility remains closed . All enbridge pipelines in and out of Cheecham terminal continue to be isolated and shut down . Limited volumes are currently flowing on Line 19, initiating out of Kirby Lake facility .Athabasca terminal continues to operate with a minimum staff complement..  Full Article

Enbridge to acquire 50 pct interest in Eolien Maritime France
Tuesday, 10 May 2016 02:45am EDT 

Enbridge Inc : Enbridge to acquire 50% interest in french offshore wind development company .Agreed to acquire 50% interest in Eolien Maritime France Sas, for an investment of C$282 million.  Full Article

Canada's Trudeau says energy minister working with oil firms and Alberta government to get better understanding of disaster
Monday, 9 May 2016 01:40pm EDT 

: Canada's Trudeau says energy minister working with oil firms and alberta government to get better understanding of disaster . Canada's Trudeau says no need to accept any international assistance at this point to help fight wildfires . Canada's Trudeau says government will support and invest in rebuilding Fort McMurray for years to come, gives no details (Reporting by David Ljunggren) ((david.ljunggren@thomsonreuters.com;)).  Full Article

Alberta gov't official says has started planning for people to return to Fort McMurray
Saturday, 7 May 2016 05:31pm EDT 

Alberta gov't official says wildfire near Fort McMurray remains out of control : Alberta firefighting official: don't feel any oilsands sites to north of Fort McMurray will be affected, fire continuing to move northeast . Alberta firefighting official: hope to be able to start containing fire if weather cools off over next few days as expected . Alberta firefighting official: continuing to see some success fighting the fire in parts of Fort McMurray . Alberta firefighting official: unless we get significant rain, expect to be fighting fires in forested regions for months to come . Alberta gov't official: evacuation of Syncrude oilsands plant should be completed soon . Alberta gov't official: have started planning for people to return to Fort McMurray; there is no timeline "but I am not looking at months" . Alberta firefighting official: expect to get "a very good handle on the fire" within the community in the next month or two (Reporting by David Ljunggren) ((david.ljunggren@thomsonreuters.com;)).  Full Article

UPDATE 1-Canada oil output to jump 28 pct by 2030, transport an issue - industry

CALGARY, June 23 Oil output from Canada's vast reserves is set to outpace infrastructure to bring that crude to market in coming years, the Canadian Association of Petroleum Producers (CAPP) said on Thursday, even as it scaled back its long-term growth forecast.