Market Chatter: Enbridge Faces $3.7M Fine For 2010 Oil Spill

By Midnight Trader,  July 02, 2012, 07:20:06 PM EDT

The pipeline regulator on Monday issued a US$3.7 million civil penalty against Enbridge Inc (ENB.TO) for a July 2010 crude oil spill, the largest fine ever proposed by the agency, Reuters reported.

The Transportation Department's Pipeline and Hazardous Materials Safety Administration (PHMSA) said its probe uncovered two dozen regulation violations related to the leak on Enbridge's Line 6B near Marshall, Michigan.

Enbridge still gained more than 1% on the New York Stock Exchange on Monday, while the Canadian stock market was closed.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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