Enbridge plans to re-export Canadian oil via United States

From:  Reuters

By Selam Gebrekidan and Nia Williams

A storage tank looms over a freeway at the Enbridge Edmonton terminal in Edmonton August 4, 2012.

Credit: Reuters/Dan Riedlhuber

(Reuters) - Enbridge Inc (ENB.TO) has obtained a license to re-export Canadian oil from the United States, becoming the first company to publicly confirm a move that could fuel debate over U.S. trade policy and oil sands pipelines.

U.S. subsidiary Tidal Energy Marketing has a license to export "limited quantities" of Canadian-origin oil from a U.S. port, Enbridge said, confirming weeks of market rumours and speculation about such shipments. Market sources say they expect the first cargoes to sail for Europe later in April.

Terri Larson, an Enbridge spokeswoman, told Reuters in an email that the firm planned to export "less than 1.5 percent of Enbridge's total U.S. shipments." She declined to provide specifics on the port of departure, the destination or the type and volume of oil involved, saying this is commercially sensitive information.

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