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Stock impact report

Enbridge pushes back on claim ‘air barrels' sent through Mainline system [Seeking Alpha]

Enbridge Inc (ENB) 
Last enbridge inc earnings: 2/14 07:00 am Check Earnings Report
US:NYSE Investor Relations: enbridge.com/investment-center/dashboard
Company Research Source: Seeking Alpha
Enbridge (NYSE: ENB ) refutes criticism that its procedures for nominating barrels of oil shipped through its Mainline pipeline system are partly to blame for Canadian crude prices that have tumbled to their lowest in at least a decade. The Enbridge Mainline system is essentially full, an ENB spokesperson tells Bloomberg. There is no material capacity to be gained by changing the apportionment and supply verification procedures. Canadian Natural Resources (NYSE: CNQ ) vice chairman Steve Laut said this week that the current system for nominating barrels on Mainline is partly to blame for low prices and allows a few players to exploit others by nominating air barrels they do not have or intend to ship. As more and more of these players figure out how to play the game, you’ve actually seen the differential blow out, particularly on light oil, Laut said. ENB tells Bloomberg it is open to discussing changes to its apportionment and verification system for nominations but Show less Read more
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