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Pembina Pipeline Says West Coast Pipeline Stake Fits Into Its Broader Strategy
Pembina said quarterly earnings rose to $512 million and revenue to $2.15 billion as it advanced a non-binding stake in the proposed West Coast oil pipeline.
- Calgary-Based Pembina Pipeline Corp. reported higher second-quarter earnings of $512 million on Friday, rising from $417 million last year, while revenue reached $2.15 billion.
- The company also reported progress at its Cedar LNG project in Kitimat, British Columbia, expecting first exports in late 2028.
- Pembina entered a non-binding agreement for a 10 per cent interest in the proposed West Coast oil pipeline, with an option for an additional 10 per cent interest once operations begin.
- CEO Scott Burrows stated the investment fits the company's "core strategic perspective" as the $35 billion to $44 billion project is operated by Crown-owned Trans Mountain Corp.
- Sarah Schwann, Pembina's chief legal, people and corporate affairs officer, noted the company is working with government partners, targeting an Oct. 1 designation under the Building Canada Act.
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11 Articles
11 Articles
The Toronto Star+3 Reposted by 3 other sources
Pembina Pipeline says West Coast pipeline stake fits into its broader strategy
Pembina Pipeline Corp. says its participation in the proposed West Coast oil pipeline fits into the company's overall strategy ahead of the pipeline's potential designation as a project of national
·Toronto, Canada
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Winnipeg Free Press+3 Reposted by 3 other sources
Pembina Pipeline reports $512M second-quarter profit, rising from $417M last year
CALGARY - Pembina Pipeline Corp. says it earned $512 million in the second quarter, rising from $417 million during the same period last year.
·Winnipeg, Canada
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Pembina Pipeline press release (PBA): Q2 Non-GAAP EPS of C$0.66. Revenue of C$2.15B (+20.1% Y/Y).
·Ra'anana, Israel
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Coverage Details
Total News Sources11
Leaning Left4Leaning Right1Center6Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 36%
C 55%
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