Enbridge Inc. aims to build a pipe capacity with around 825,000 barrels per day over the next five years – including about 400,000 b / d next year – as is the case. The company is working to reduce bad price export bills in the Western Canada oil industry.
However, the company wants manufacturers and creators to promises long-term contracts for the provision of special books on the main export piping system, which is currently in place; carrying 2.85 million barrels of bad days to the United States.
At a day's day-to-day conference in New York on Tuesday, a Calgary-based company said that it is expected that oil sand companies will add more than one million barrels in the day of representation over the ten years , and expects to expand its export network to Canada in the fall to markets in the Midwest USA and the Gulf Coast. Enbridge is currently negotiating with oil and defendant representatives to make a change in the way in which it is; gives a place on its mainline system, with the aim that 90 percent of the numbers will have long term contracts.
"We're getting as fast as we can," said Enbridge chief executive, Al Monaco, on a call by reporters. "We recognize the importance of market capacity. We've been doing many things on that front already … But we & # 39; move well, quickly what we can. "
West Canadian oil representatives were required to reduce their cost price as a pipeline and there was still no rail capacity; keep up with everlasting representation. The distribution between Western Canadian Select, which is an indicator for oil sand bitumen, and the West Texas Intermediate American Memorandum, is expanded to a maximum of US $ 50 in a barrel here, although it is has reduced $ 12.50 barrel for the delivery of January, according to NetEnergy, a trading firm based in Calgary. This development came after some of the great conflicts in Central America returning from a repair closure and after Premier Alberta Rachel Notley ordered a cut in the production of 325,000 barrels per day starting in January.
Enbridge quietly added 450,000 day barrels of ability to the United States mainline system over the last three years, even as it worked for a regulatory agreement for the renewal of the line 3 who was getting older, who had worked under her ability.
The company was awarded permission from the administrator of the Minnesota public resources to proceed with line 3 Online refurbishment, which would give 325,000 barrels a day of exported products from the West of Canada, but it is still a & # 39 ; Looking at appeals from native statesmen in the state. Guy Jarvis, president of Enbridge's pipeline industry, said that he is confident to complete his & her; project before the end of next year.
In addition, its company will add as much as 100,000 barrels per day in the next year's export capability, largely by making it possible; Moving representatives in North Dakota from their main system and on other pipers and by sending them out. Submitting Challenging Demonstration of the Earth's current Subway Within five years, it plans to increase its capacity of a main line with 450,000 barrels per day, as well as the work of Line 3.
Enbridge changed the focus it was to gas pipers in northern America with a " Getting the Spectra Energy Corp company in Houston in 2017, but on Tuesday he said he was cost $ 1 billion to add a lion capacity. He pays $ 265 million to obtain Cheecham's destination and a pipeline in northern Alberta at Athabasca Oil Corp., and US $ 600 million for an interest of 22.75-per-cent in The Oaks green pipeline, which gives light light from the Permian Basin desert in the West Texas to Corpus Christi, Tex. Enbridge is also working with partners to bring up a landmark bench, which was exported from North America to major carriers (VLCC) in Camas mexico.
In the exhibition to investors, Mr Jarvis said that the new taxation system with long-term contracts still depends on dialogue with draggers and regulatory permission. He said Enbridge will protect smaller representatives by & # 39; offers terms easier than some of its competitors.
Mr Monaco said that North America's energy infrastructure needs a huge investment to sustain rapidly growing in natural oil and gas, and that Enbridge is strategically positioned in the main markets for both.
Their company has announced a 10 per cent increase in their share for 2019, and is expected to be a further 10 per cent increase in 2020.
Enbridge's shareholding price has not changed significantly on Tuesday, and # 39; raising three pounds to $ 42.12 on Toronto Stock Exchange.