Enbridge posts drop in quarterly profit on lower volumes
July 30 (Reuters) - Canadian pipeline operator Enbridge Inc on Friday reported a drop in its quarterly profit on a sequential basis, as it transported lower volumes of fuel on its Mainline system.
Enbridge in May had warned that scheduled maintenance for several oil sands upgraders and downstream refineries would be more concentrated between April and June than previously anticipated.
The company said it had transported 2.6 million barrels per day (bpd) of crude on its key mainline system across Canada and the United States during the reported quarter, lower than 2.75 million bpd in the previous quarter.
The Calgary-based company's adjusted earnings fell to C$1.36 billion ($1.09 billion), or 67 Canadian cents per share, in the second quarter ended June 30, from C$1.63 billion, or 81 Canadian cents per share, in the first quarter. ($1 = 1.2438 Canadian dollars) (Reporting by Arunima Kumar in Bengaluru; Editing by Shailesh Kuber)
