Released February 17, 2025 | SUGAR LAND
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Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Amid policies that could upend the trade networks in North America, Canadian energy company Enbridge Incorporated (NYSE:ENB) (Calgary, Alberta) struck an upbeat tone, saying its scale and diversification gave it an edge.
The company reported adjusted net earnings of C$1.64 billion (US$1.1 billion) for the fourth quarter, compared with C$1.36 billion (US$955 million) during the same period in 2023.
"Enbridge's operational and financial performance throughout the year helped deliver a 37% total annual return to investors and 2025 is off to a good start," Greg Ebel, the company's chief executive officer, said Friday. "Our low-risk business model continues to deliver predictable results, and stable returns for shareholders and impacts from proposed tariffs on U.S. energy imports are not expected to be material to Enbridge's financial guidance."
U.S. President Donald Trump entered the White House for his second term with a trade agenda that former Canadian Deputy Prime Minister Chrystia Freeland described as "economic nationalism." Billions of dollars in cross-border trade, along with the integrated supply chains in North America, could be impacted by Trump's tariff threats on his regional trading partners.
A 25% tariff on Canadian imports is under consideration, though the Trump administration made concessions for energy by announcing only 10% tariffs in oil, gas and other energy imports.
Canada is the top crude oil exporter to the U.S. market by far. U.S. federal data show Canada delivered an average of 4 million barrels per day (BBL/d) over the four-week period ending February 7, up 11% from the comparable period in 2024. That represents 60% of total oil imports.
Most of the midstream infrastructure controlled by Enbridge runs through the U.S. Enbridge's 785-mile Express Pipeline can carry as much as 310,000 barrels per day from Alberta to refineries in the U.S. Rocky Mountain region. Interconnections along the Alberta Clipper Pipeline, originating in Alberta, deliver crude oil to PADD 2, the Great Lakes region.
Much of the U.S. refining sector is geared to process the heavier types of crude oil found in Canada.
In January, Alberta Premier Danielle Smith announced that her government signed a letter of intent with Enbridge to form a working group alongside the Alberta Petroleum Marketing Commission.
"The working group will evaluate future egress, transport, storage, terminaling and market access opportunities across the more than 29,000 kilometers (18,000 miles) of the Enbridge network in support of moving more Alberta oil and gas to Canadians and American partners," Smith's government said.
The government added that it was committed to doubling Alberta's crude oil production and increasing pipeline capacity, all of which it said would support North American security. Enbridge, meanwhile, boasted of its performance in the U.S. market during the period.
Enbridge took a 15% stake in a midstream network tied to the Whistler Pipeline, which is carrying natural gas out of the Permian Basin in Texas. In the Gulf of Mexico (now designated the Gulf of America by the Trump administration), it is working alongside BP plc (NYSE:BP) (London, England) at its Kaskida development, and supporting offshore efforts by Shell plc (NYSE:SHEL) (London, England) and Equinor (NYSE:EQNR) (Stavanger, Norway) at the Sparta complex.
"These projects are expected to help extend our growth to the end of the decade and are designed to accommodate connections from new discoveries in the area," Enbridge's Ebel said.
The company reported full-year 2024 adjusted earnings of C$6 billion (US$4.2 billion), compared with C$5.7 billion (US$3.9 billion) during the prior year.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
The company reported adjusted net earnings of C$1.64 billion (US$1.1 billion) for the fourth quarter, compared with C$1.36 billion (US$955 million) during the same period in 2023.
"Enbridge's operational and financial performance throughout the year helped deliver a 37% total annual return to investors and 2025 is off to a good start," Greg Ebel, the company's chief executive officer, said Friday. "Our low-risk business model continues to deliver predictable results, and stable returns for shareholders and impacts from proposed tariffs on U.S. energy imports are not expected to be material to Enbridge's financial guidance."
U.S. President Donald Trump entered the White House for his second term with a trade agenda that former Canadian Deputy Prime Minister Chrystia Freeland described as "economic nationalism." Billions of dollars in cross-border trade, along with the integrated supply chains in North America, could be impacted by Trump's tariff threats on his regional trading partners.
A 25% tariff on Canadian imports is under consideration, though the Trump administration made concessions for energy by announcing only 10% tariffs in oil, gas and other energy imports.
Canada is the top crude oil exporter to the U.S. market by far. U.S. federal data show Canada delivered an average of 4 million barrels per day (BBL/d) over the four-week period ending February 7, up 11% from the comparable period in 2024. That represents 60% of total oil imports.
Most of the midstream infrastructure controlled by Enbridge runs through the U.S. Enbridge's 785-mile Express Pipeline can carry as much as 310,000 barrels per day from Alberta to refineries in the U.S. Rocky Mountain region. Interconnections along the Alberta Clipper Pipeline, originating in Alberta, deliver crude oil to PADD 2, the Great Lakes region.
Much of the U.S. refining sector is geared to process the heavier types of crude oil found in Canada.
In January, Alberta Premier Danielle Smith announced that her government signed a letter of intent with Enbridge to form a working group alongside the Alberta Petroleum Marketing Commission.
"The working group will evaluate future egress, transport, storage, terminaling and market access opportunities across the more than 29,000 kilometers (18,000 miles) of the Enbridge network in support of moving more Alberta oil and gas to Canadians and American partners," Smith's government said.
The government added that it was committed to doubling Alberta's crude oil production and increasing pipeline capacity, all of which it said would support North American security. Enbridge, meanwhile, boasted of its performance in the U.S. market during the period.
Enbridge took a 15% stake in a midstream network tied to the Whistler Pipeline, which is carrying natural gas out of the Permian Basin in Texas. In the Gulf of Mexico (now designated the Gulf of America by the Trump administration), it is working alongside BP plc (NYSE:BP) (London, England) at its Kaskida development, and supporting offshore efforts by Shell plc (NYSE:SHEL) (London, England) and Equinor (NYSE:EQNR) (Stavanger, Norway) at the Sparta complex.
"These projects are expected to help extend our growth to the end of the decade and are designed to accommodate connections from new discoveries in the area," Enbridge's Ebel said.
The company reported full-year 2024 adjusted earnings of C$6 billion (US$4.2 billion), compared with C$5.7 billion (US$3.9 billion) during the prior year.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
