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Enbridge to Store Crude in Mainline as Coronavirus Slashes Refinery Demand

Reuters, May 6, 2020
Reuters

Pipeline operator Enbridge Inc said it has reached a deal with shippers to temporarily store crude in North America’s largest oil pipeline network, according to a filing, as Canadian producers scramble to respond to weak refinery demand and low prices.

Enbridge said the agreement would temporarily provide roughly 912,000 barrels of storage on its Canadian Mainline system starting June 1, according to a May 1 filing with the Canadian Energy Regulator.

The Mainline, Canada’s longest oil pipeline system, has capacity for nearly 3 million barrels per day, moving western Canadian oil to U.S. refiners.


(Reporting by Jeff Lewis)

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Copyright 2020 Thomson Reuters. Click for restrictions.

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