Enbridge Sees Western Canada Oil Supply Growing By 500,000 Bpd Through 2025; Sees Western Canada Pipeline Utilization Reaching 99% By 2026 CEO Sees Company Focusing On Small Tuck-in Acquisitions This Year, Not Bigger Deals
Portfolio Pulse from Benzinga Newsdesk
Enbridge anticipates a growth in Western Canada's oil supply by 500,000 barrels per day (bpd) through 2025, with pipeline utilization expected to reach 99% by 2026. The company's CEO also mentioned a focus on small tuck-in acquisitions rather than larger deals for the year.
March 06, 2024 | 5:19 pm
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Enbridge expects significant growth in Western Canada's oil supply and high pipeline utilization, alongside a strategic focus on small acquisitions.
The anticipated growth in oil supply and high pipeline utilization suggest a positive outlook for Enbridge's operational capacity and revenue potential. The focus on small tuck-in acquisitions indicates a strategic approach to growth, potentially enhancing the company's asset portfolio without the risks associated with larger deals. This strategic direction is likely to be viewed positively by investors, suggesting a potential upward movement in ENB's stock price in the short term.
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IMPORTANCE 90
RELEVANCE 100