Company News

Pipeline operator Enbridge to solicit bids for Mainline

Aug 2 (Reuters) - Canadian pipeline company Enbridge Inc said on Friday it would invite bids for contracted space on its Mainline system, in the face of opposition from some oil shippers who worry the changes could disadvantage small producers.

The Mainline ships 2.85 million barrels per day of crude from Alberta to the United States, making it Canada’s biggest network of export pipelines.

Enbridge is turning its Mainline system from a common carrier in which shippers submit monthly bids for capacity to one that is mostly contracted for up to two decades.

Separately, the company said its adjusted earnings rose to C$1.35 billion ($1.02 billion), or 67 Canadian cents per share, in the second quarter ended June 30 from C$1.09 billion, or 65 Canadian cents per share, a year earlier. ($1 = 1.3220 Canadian dollars) (Reporting by Debroop Roy in Bengaluru; Editing by Arun Koyyur)