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Enbridge Energy Partners

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Enbridge 1st-Quarter Profit Dips; Plans $1.2 Billion Investment in LP

Canadian pipeline operator Enbridge Inc. (ENB) said its first-quarter profit dipped 4%, hurt in part by additional costs related to a 2010 oil spill in Michigan.The Calgary, Alberta-based company, which also said Wednesday it will purchase US$1.2 billion of preferred units in its Enbridge Energy Partners LP (EEP) affiliate, beat analyst expectations in the latest quarter on an adjusted basis.Enbridge said it earned 250 million Canadian dollars ($249 million), or 31 Canadian cents a share, down from C$261 million, or 34 Canadian cents a year earlier.Adjusted earnings, which exclude unrealized mark-to-market losses and an additional C$175 million in costs related to the clean up of the 2010 Line 6B oil spill in Michigan, improved to 62 Canadian cents a share from 49 Canadian cents.The Thomson Reuters mean estimate was for a profit of 52 Canadian cents a share.on revenue of C$6.60 billion.Revenue improved to C$8.02 billion from C$6.63 billion. Analysts polled by Thomson Reuters expected r...

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  1. Enterprise,Others Partnering On Natural Gas Liquids Pipeline

    A trio of major energy players, including Enterprise Products Partners LP (EPD), has struck a deal to develop a new natural gas liquids pipeline that will stretch fr...

  2. Enbridge Energy Discovers Pipeline Leak In Eastern Michigan

    DOW JONES NEWSWIRESEnbridge Energy Partners LLP (EEP) is investigating the cause of a pipeline leak in eastern Michigan, according to a government filing made pubic ...

  3. Enbridge cleared to restart U.S. Midwest oil line

    By Jeffrey JonesCALGARY, Alberta (Reuters) - U.S. regulators Wednesday approved a gradual restart of an Enbridge Inc oil pipeline that ruptured more than eight weeks...

  4. Enbridge starts pressure test of pipeline

    (Corrects apportionment figures in paragraphs 8-9)CALGARY, Alberta (Reuters) - Enbridge Inc tested the integrity of a pipeline it repaired after a rupture spilled he...

  5. Enbridge starts pressure test of downed pipeline

    CALGARY, Alberta (Reuters) - Enbridge Inc tested the integrity of a pipeline it repaired after a rupture spilled heavy crude into a Michigan river system, and regula...

  6. Enbridge pipeline restart unclear as test delayed

    By Jeffrey JonesCALGARY, Alberta (Reuters) - An Enbridge Inc pipeline that ruptured in Michigan more than a month ago won't resume oil shipments until at least next ...

  7. Costs mount for Enbridge on spill, 2007 blast

    (Recasts with expected cost of Michigan spill. In U.S. dollars unless noted)By Jeffrey JonesCALGARY, Alberta (Reuters) - Enbridge Inc's struggles mounted Tuesday as ...

  8. U.S. regulator fines Enbridge for 2007 blast

    (In U.S. dollars)CALGARY, Alberta (Reuters) - U.S. regulators slapped Enbridge Inc with a $2.4 million fine Tuesday for a deadly 2007 pipeline explosion in Minnesota...

  9. Enbridge cuts alternative pipeline rate by 8 pct

    By Jeffrey JonesCALGARY, Alberta (Reuters) - Enbridge Inc has cut oil flows by 8 percent on a major pipeline that is an alternative to the one that ruptured in Michi...

  10. Enbridge cuts space on alternative to broken line

    By Scott HaggettCALGARY, Alberta (Reuters) - Enbridge Inc lowered capacity on its 490,000 barrel-per-day Line 5, the main alternative to its Michigan pipeline that r...

  11. Enbridge says no line space rationing due to break

    By Scott HaggettCALGARY, Alberta (Reuters) - Enbridge Inc has not been forced to ration oil shipments on its North American pipeline system because of its Michigan o...

  12. Enbridge aims to file revised pipeline plan Friday

    By Jeffrey JonesCALGARY, Alberta (Reuters) - Enbridge Inc aims to file a revised plan for restarting its U.S. oil pipeline by a Friday deadline imposed by regulators...

  1. Phillips 66 Signs 3 Pacts to Raise Supplies of North American Crude Oil

    Phillips 66 (PSX) reached agreements with Enbridge Energy Partners L.P. (EEP), Targa Resources Partners LP (NGLS) and Magellan Midstream Partners L.P. (MMP) for rail...

  2. Opportunities for Oil Companies in Venezuela?

    Enbridge Energy Partners President Mark Maki on the impact on oil of Venezuelan President Hugo Chavez’s death.

  3. U.S. Allows Enbridge to Restart Oil Pipeline in Wisconsin

    The U.S. Department of Transportation on Monday allowed Enbridge Energy Partners LP (EEP) to restart its Line 14, which leaked more than 1,000 barrels of oil in Wisc...

  4. Enbridge to Restart Oil Pipeline After Agreeing to Safety Measures

    The U.S. Department of Transportation on Monday allowed Enbridge Energy Partners LP (EEP) to restart its Line 14, which leaked 1,000 barrels of oil in Wisconsin in J...

  5. Energy Sector Wrap

    While the S&P 500 grew 0.7%, the Energy sector (XLE) showed little movement during trading today.Although it went in the opposite direction of the market today, the ...

  6. Enbridge, Enbridge Energy Partners Detail Expansion Projects

    Enbridge Inc. (ENB, ENB.T) said it has secured funding for $2.6 billion in additional pipeline projects linking western Canadian oil to eastern markets, while Enbrid...

  7. J.C. Penney Reports Larger-Than-Expected 1Q Loss

    CenterState Bank Executive V.P. Joe Keating and China-America Capital Company’s Tim Mulholland on J. C. Penny’s first-quarter earnings results.

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