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Home / Business / Enbridge receives PUC Nod for Line 3 replacement project

Enbridge receives PUC Nod for Line 3 replacement project



<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "After three years, Enbridge Inc ENB, Enbridge Energy Partners, LP EEP and Enbridge Income Fund Holdings Inc. have received approval to proceed with the Line 3 Replacement Project, which has angered protesters who believe that the project poses a threat to pristine areas using regulatory methods to complete the project

The Minnesota Public Utilities Commission (PUC) has given Enbridge a certificate of need for the project Despite protests from various sectors, PUC's decision was based on the deteriorated condition of the existing line, built in the 1

960s.

PUC approved Enbridge's line and took minor changes and certain conditions. Despite the replacement of Line 3, there will be a new passage on its way. The pipeline extends from Alberta, Canada, through North Dakota and Minnesota to Enbrides's term INAL in Superior, WI.

There has been much debate over whether refineries in Minnesota and the Midwest need additional oil. Currently, Enbridge operates Line 3 at approximately 50% of its original capacity of 760,000 barrels per day for safety reasons and transports only light crude oil.

For the project's antagonists, including the Minnesota Department of Commerce, refineries need extra oil Demand will decline in the coming years as people transition to electric cars and renewable energy sources. Finally, the oil will be exported.

The decision does not affect the cost estimate of the Line 3 replacement project. Costs are estimated at $ 5.3 billion in Canada and $ 2.9 billion in the United States, up from that date at around $ 3.6 billion. Enbridge reiterated that the project will go live in the second half of 2019.

The project highlights the company's low-risk business profile and long-term cash flow stability. It will be supported by a 15-year surcharge that will apply to any barrel shipped through the Enbridge mainline system.

Value for Money

Over the past three months, Enbridge shares have gained 5.2%, and the industry's rise of 4.7%. "data-reactid =" 31 "> After three years, Enbridge Inc. ENB, Enbridge Energy Partners, LP EEP, and Enbridge Income Fund Holdings Inc. have been approved to proceed with Line 3 Replacement Project protesters who believe that the project will be a Threat to pristine areas will continue to protest and use regulatory methods to disrupt the project.

The Minnesota Public Utilities Commission (PUC) has given Enbridge a certificate for the necessity of defying protests from various sectors based on the decision of PUC on the worse condition of the existing line that was built in the 1960s.

PUC approved the Enbridge line and made minor changes to a ns and certain conditions. The replacement of line 3 will involve a new passage on its way The pipeline spans from Alberta, Canada, through North Dakota and Minnesota to Enbridge's terminal in Superio r, WI.

There has been much debate over whether refineries in Minnesota and the Midwest need additional oil. Currently, Enbridge operates Line 3 at approximately 50% of its original capacity of 760,000 barrels per day for safety reasons and transports only light crude oil.

For the project's antagonists, including the Minnesota Department of Commerce, refineries need extra oil Demand will decline in the coming years as people transition to electric cars and renewable energy sources. Finally, the oil is exported.

The decision did not affect the cost estimate of the Line 3 replacement project. Costs are estimated at $ 5.3 billion in Canada and $ 2.9 billion in the United States, up from that date at around $ 3.6 billion. Enbridge reiterated that the project will go live in the second half of 2019.

The project demonstrates the company's low-risk business profile and long-term cash flow stability. It is backed by a 15-year markup applicable to every barrel shipped through the Enbridge mainline system.

Value for Money

In the past three months, Enbridge shares have gained 5.2%, with the industry rising 4.7%.

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "Text" Content = " Zacks Rank & Key Picks

Enbridge currently has a Zacks Rank # 3 (Hold).

A few better-rated players in the same sector are Occidental Petroleum Corporation OXY and China Petroleum and Chemical Corporation SNP, also known as Sinopec, which have a Zacks Rank # 1 (Strong Buy). See the full list of today's Zacks # 1 Rank Stocks .

Occidental Petroleum is an international oil and gas exploration and production company that has made gains over the past four quarters an average positive profit surplus of 30.2%.

Sinopec is one of the largest petroleum and petrochemical companies in Asia, with an average positive profit surplus of 492.8% over the past four quarters.

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Enbridge currently has a Zacks Rank # 3 (Hold).

A few better-rated players in the same sector are Occidental Petroleum Corporation OXY and China Petroleum and Chemical Corporation SNP, also known as Sinopec Zacks Rank # 1 (Strong Buy). Here you will find the complete list of Zacks # 1 Rank Camp .

Occidental Petroleum is an international oil and gas exploration and production company averaging 30.2% positive profit surplus in the last four quarters

Sinopec is one of the largest petroleum and petrochemical companies in Asia and posted an average positive profit surplus of 492.8% over the past four quarters.

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<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) –sm Mt (0.8em) – sm" type = "text "content ="
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China Petroleum & Chemical Corporation (SNP) : Free Analysis Report

Enbridge Energy Partners, LP (EEP): Free Analysis Report

Enbridge Inc (ENB): Free Stock Analysis Report

Occidental Petroleum Corporation (OXY): Inventory Analysis Report [19659034] To read this article on Zacks.com, click here. "Data-reactid =" 50 ">
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China Petroleum & Chemical Corporation (SNP): Inventory Analysis Report

Enbridge Energy Partners, LP (EEP): Stock Analysis Report

Enbridge Inc. (ENB): Inventory Analysis Report

Occidental Petroleum Corporation (OXY): Inventory Analysis Report

To read this article on Zacks.com, click here


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