Enbridge swings to loss, but beats estimates on oil sands transport – Mining.com

November 5, 2014

Enbridge Inc. (TSX, NYSE:ENB), Canada’s largest pipeline operator, swung to a third-quarter loss, but its adjusted earnings beat estimates, despite announcing its plan to reverse the flow of a pipeline running between southern Ontario and Montreal has been delayed.

While National Energy Board (NEB) approved the project subject to conditions in March, Enbridge said the board has requested additional information related to one of the conditions.

In a sharply worded letter to Enbridge in early October, NEB secretary Sheri Young said the board is not convinced the company has met the safety conditions, which the regulator set when it approved the plan to reverse the pipeline’s direction of flow. It also said Enbridge was not allowed to begin shipping crude until it addresses those concerns.

Read More: http://www.mining.com/enbridge-swings-to-loss-but-beats-estimates-on-oil-sands-transport-42792/