ATHOF - Enbridge's Line 3 Expansion Approval Offers A Nice Tailwind For Canadian Heavy Oil Producers
Welcome to the tailwind edition of Oil Markets Daily!
Minnesota's Public Utilities Commission approved Enbridge's Line 3 expansion plans yesterday with minimal setbacks. The committee overwhelmingly approved the deal at 5-0, while the preferred route Enbridge (ENB) wanted coming down to a 3-2 vote in favor of Enbridge.
Source: Brooks Johnson
In a statement released by Enbridge after the decision, the company stated that it expects the Line 3 expansion, which will nearly double the capacity to 760k b/d, to be in-service by the second half of 2019
We think with the Line