Oil Pipeline
Enbridge reports higher fourth-quarter adjusted profit
Enbridge, the pipeline operator, reported on Friday a higher adjusted profit for its fourth quarter. This was due to higher Mainline tolls as well as lower power costs. The company reported a profit adjusted of C$5.13 (US$3.62 billion) in the quarter ending December 31. This is up from C$4.1billion a year ago. The U.S. Energy Information Administration reported in January that crude oil production in the United States fell marginally from its monthly record of 13,436 million barrels a day in October. This resulted in a boost in crude flow through pipelines. Mainline is the largest crude oil pipeline in...