Referenced Stocks

Market Chatter: Enbridge Sees Quicker Seaway Expansion

By Midnight Trader,  June 19, 2012, 08:25:23 AM EDT

Enbridge Inc (ENB.TO), Canada's No. 2 pipeline company, expects to complete an expansion of its newly reversed oil pipeline to Texas refineries by the end of this year, the company's incoming chief executive said on Monday, Reuters reported.

That would be sooner than previous forecasts used by the company and its U.S. partner, it said.

Enbridge and Enterprise Products Partners LP ( EPD ) have been saying for months that they would boost the capacity of the Seaway pipeline from the Cushing, Oklahoma, storage hub to 400,000 barrels a day from 150,000 sometime in the first quarter of next year.

It is one of a number of pipeline projects aimed at curing a bottleneck at the massive pipeline hub, which is expected to reduce deep price discounts for oil that travels there from rapidly expanding U.S. and Canadian oil fields.




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

Referenced Stocks: EPD



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