Newspaper article The Canadian Press

Enbridge Inc. Loss Narrows as Oil Pipeline Projects Come Online

Newspaper article The Canadian Press

Enbridge Inc. Loss Narrows as Oil Pipeline Projects Come Online

Article excerpt

Enbridge loss narrows on new projects

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CALGARY - Enbridge Inc. (TSX:ENB) reported a smaller third-quarter loss Thursday as it saw increased revenue from completed projects in its liquids pipeline division.

Canada's largest pipeline operator said it lost $103 million or 11 cents a share in the quarter ending Sept. 30, compared with a loss of $609 million or 72 cents per share in the same quarter last year.

Revenue in the quarter totalled nearly $8.49 billion, up from $8.32 billion a year ago.

The Calgary-based company said adjusted earnings for the quarter were $437 million, up from $399 million in the same quarter last year, as $4-billion worth of projects had come online including an expanded mainline system, Line 9B reversal and Southern Access Extension project. …

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