N. American Pipeline Operator Enbridge Swings To Loss On 1.86 Bln...: Difference between revisions
NickolasPmq (talk | contribs) (Created page with "By Arshreet Singh and Rod Nickel<br> Feb 10 (Reuters) - North American pipeline operator Enbridge Inc on Friday posted a quarterly loss from a year-ago profit as it took a non-cash C$2. If you liked this article and you simply would like to collect more info concerning [https://evigetir.com/testt.html eVDeN EVe naKliyAT] kindly visit our own site. 5 billion ($1.86 billion) hit from higher cost of capital related to its natural gas transmission business.<br> U.S.<br>refin...") |
mNo edit summary |
||
| (7 intermediate revisions by 7 users not shown) | |||
| Line 1: | Line 1: | ||
By Arshreet Singh and Rod Nickel<br> Feb 10 (Reuters) - North American pipeline operator Enbridge Inc on Friday posted a quarterly loss from a year-ago profit as it took a non-cash C$2 | By Arshreet Singh and Rod Nickel<br> Feb 10 (Reuters) - North American pipeline operator Enbridge Inc on Friday posted a quarterly loss from a year-ago profit as it took a non-cash C$2.5 billion ($1.86 billion) hit from higher cost of capital related to its natural gas transmission business.<br> U.S.<br>refinery outages, a global glut of high sulphur fuel oil and the U.S. Strategic Petroleum Reserve releases of heavy sour barrels weakened demand for Western Canada Select crude in the fourth quarter.<br> Enbridge, a leading transporter of crude oil and [https://suntech0825.cafe24.com/kor/bbs/board.php?bo_table=contact_kor&wr_id=403562 evden eVE NAKliYAt] natural gas, [https://evigetir.com/hesaplama.html EvDEn eve nAkLiYat] delivered 3.1 million barrels of oil per day (bpd) on its Mainline system, [https://evigetir.com/testt.html eVDEn eVE NakliYAt] slightly higher than the 3 million bpd delivered a year ago.<br> The Calgary-based company lost C$1.07 billion, or 53 Canadian cents, in the fourth quarter, compared with a profit of C$1.84 billion, or 91 Canadian cents per share, in the year-ago quarter.<br> Gas transmission projects account for just over half of Enbridge's C$18-billion, multi-year capital program.<br><br>Chief Executive Greg Ebel told analysts that Enbridge is in good position to manage inflation because the timing of its projects is staggered.<br> On an adjusted basis, Enbridge earned 63 Canadian cents per share, missing analysts' average expectation of 73 Canadian cents, [https://evigetir.com/evdeneve/depolama.html eVdEN EVe NakliYAT] according to Refinitiv data.<br>The company cited rising interest rates in its lower adjusted [https://www.zacks.com/stock/news/2081031/elevance-health-elv-reports-q1-earnings-what-key-metrics-have-to-say earnings].<br> Enbridge shares rose 0.5% in Toronto.<br> Enbridge is in "constructive" negotiations with oil shippers on a new basis to charge for space on its Mainline, Ebel said, after the Canada Energy [https://www.ebay-kleinanzeigen.de/s-regulator/k0 Regulator] rejected in 2021 Enbridge's plan to sell nearly all of its space under long-term contract.<br> Enbridge currently rations Mainline space monthly and faces new competition when the Trans Mountain pipeline expansion wraps up late this year.<br> The Mainline is Canada's longest oil pipeline, moving crude from Western Canada to refineries in Eastern Canada and [https://totalbuzzevents.com/head-of-epsom-college-2/ EvdEn eve NakLiyat] the U.S.<br><br>Midwest. ($1 = 1. If you have any issues concerning wherever and tips on how to employ [https://evigetir.com/gizlilik.html evDeN Eve nAKliyAT], you'll be able to e mail us from our own web site. 3447 Canadian dollars) (Reporting by Arshreet Singh and Rod Nickel; Editing by Devika Syamnath and Marguerita Choy)<br> | ||
Latest revision as of 01:25, 20 April 2023
By Arshreet Singh and Rod Nickel
Feb 10 (Reuters) - North American pipeline operator Enbridge Inc on Friday posted a quarterly loss from a year-ago profit as it took a non-cash C$2.5 billion ($1.86 billion) hit from higher cost of capital related to its natural gas transmission business.
U.S.
refinery outages, a global glut of high sulphur fuel oil and the U.S. Strategic Petroleum Reserve releases of heavy sour barrels weakened demand for Western Canada Select crude in the fourth quarter.
Enbridge, a leading transporter of crude oil and evden eVE NAKliYAt natural gas, EvDEn eve nAkLiYat delivered 3.1 million barrels of oil per day (bpd) on its Mainline system, eVDEn eVE NakliYAt slightly higher than the 3 million bpd delivered a year ago.
The Calgary-based company lost C$1.07 billion, or 53 Canadian cents, in the fourth quarter, compared with a profit of C$1.84 billion, or 91 Canadian cents per share, in the year-ago quarter.
Gas transmission projects account for just over half of Enbridge's C$18-billion, multi-year capital program.
Chief Executive Greg Ebel told analysts that Enbridge is in good position to manage inflation because the timing of its projects is staggered.
On an adjusted basis, Enbridge earned 63 Canadian cents per share, missing analysts' average expectation of 73 Canadian cents, eVdEN EVe NakliYAT according to Refinitiv data.
The company cited rising interest rates in its lower adjusted earnings.
Enbridge shares rose 0.5% in Toronto.
Enbridge is in "constructive" negotiations with oil shippers on a new basis to charge for space on its Mainline, Ebel said, after the Canada Energy Regulator rejected in 2021 Enbridge's plan to sell nearly all of its space under long-term contract.
Enbridge currently rations Mainline space monthly and faces new competition when the Trans Mountain pipeline expansion wraps up late this year.
The Mainline is Canada's longest oil pipeline, moving crude from Western Canada to refineries in Eastern Canada and EvdEn eve NakLiyat the U.S.
Midwest. ($1 = 1. If you have any issues concerning wherever and tips on how to employ evDeN Eve nAKliyAT, you'll be able to e mail us from our own web site. 3447 Canadian dollars) (Reporting by Arshreet Singh and Rod Nickel; Editing by Devika Syamnath and Marguerita Choy)