$ENB

Enbridge (NYSE: ENB) shares fell about 7% after the company reported weaker second-quarter results. Enbridge posted adjusted EPS of CA$0.63 (-3% y/y) and EBITDA of CA$4.77B (+2% y/y). The article cites a 5.47% dividend yield, a 3% dividend increase to $0.97, and higher DCF to CA$2.9B (+35.2% y/y).

Reuters reports at least six Canadian pipeline projects are planned or under way to expand exports to the US and Pacific by 2035, potentially adding 2.25 million bpd (45% capacity). Filling them would require Canadian oil supply to grow by over a third by 2034 and new oil sands projects. Suncor and Canadian Natural Resources have not committed to faster output; Enbridge postponed Mainline phase 2.

Residents in Chatham County, North Carolina organized against Enbridge Gas North Carolina’s proposed 28-mile, 12-inch Chatham County System Expansion pipeline. Enbridge says it will expand service, while opponents cite land, water, wildlife and concerns the line could support a nearby 750 MW data center. Enbridge plans to file with the NC Utilities Commission and start construction next fall.

Reuters analysis says Canadian pipeline firms are proposing billions of dollars in new projects to expand oil exports, which would raise capacity by 45% to 2.25 million bpd by 2035. Reuters calculates this would require Canadian oil supply to grow by over a third by 2034. Suncor and Canadian Natural Resources said they are not yet accelerating output, and Enbridge postponed part of its Mainline expansion.

Reuters reports that Canadian pipeline firms are proposing billions of dollars in new projects to expand export capacity by 45% to 2.25 million bpd by 2035, but oil sands producers are not committing to the needed output growth. Enbridge postponed Mainline expansion. Suncor and Canadian Natural Resources said they are not accelerating production. Canada’s 2025 output rose 4% to 5.35 million bpd.

The U.S. Army Corps of Engineers, Detroit District, said it issued Enbridge Energy’s individual permit for the Line 5 Tunnel project, which would place a new pipeline segment under about four miles of Lake Michigan at the Straits of Mackinac and retire the existing twin pipeline. The Corps said the decision follows multiple federal environmental and historic review laws; Michigan Supreme Court and EGLE permits remain part of the process.

The Bad River Band of Lake Superior Chippewa Indians says it won a legal fight to remove an illegal portion of Enbridge’s Line 5 oil pipeline that runs through its Wisconsin reservation. The article cites 645 miles of pipeline and daily transport of 540,000 barrels, plus prior spills and erosion bringing the pipe closer to the river.

The U.S. Army Corps of Engineers approved a permit for Enbridge’s plan to replace the Line 5 oil pipeline crossing under Michigan’s Straits of Mackinac with a tunnel, after a Michigan Supreme Court order required additional environmental review of another permit. Enbridge says the $500 million tunnel project complies with federal rules and would keep Line 5 operating.

Chatham County held a public hearing on Enbridge Gas North Carolina’s proposed 28-mile, 12-inch natural gas pipeline, drawing 350+ attendees and 50 speakers. Residents urged commissioners to oppose or slow the project, citing eminent domain, water contamination, property values, and limited county authority. Enbridge said it seeks capacity/reliability, with construction possibly starting fall 2027 if permitted.

Metrolinx says Enbridge Gas-owned pipeline relocation work for Hamilton’s LRT will begin in 2027, correcting an earlier 2024-25 date on Enbridge’s website. Metrolinx says there are no delays, while Enbridge says Metrolinx sets the relocation schedule. Ontario’s OEB said Enbridge has not filed an application.