UPDATE: Enbridge (ENB) Reports Q1 EPS of Cdn$0.81

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Go back to UPDATE: Enbridge (ENB) Reports Q1 EPS of Cdn$0.81

Exclusive: Enbridge seeking at least eight-year oil shipping commitments on Canada Mainline, worrying small producers

May 8, 2019 6:17 AM EDT

By Rod Nickel and Nia Williams

WINNIPEG, Manitoba/CALGARY, Alberta (Reuters) - Canada's Enbridge is asking oil shippers to sign at least eight-year contracts to move crude on its Mainline pipeline network, as it proposes to shift away from a monthly allocation system, people with knowledge of the matter told Reuters.

The minimum term Enbridge Inc is seeking, previously unreported, is raising fears among small Canadian producers that they will lose out to bigger players, at a time when pipeline congestion has damaged the energy sector's outlook.

Three sources with knowledge of the confidential talks confirmed... More