CALGARY — A jump in commodity prices resulting from the Middle East conflict has helped Pembina Pipeline Corp. raise its earnings outlook for the year.
The company says it expects to benefit especially from higher propane prices in Asia thanks to its export facilities on the West Coast.
The Calgary-based natural gas processor and shipper has the 20,000-barrel-per-day Prince Rupert Terminal as well as access to third-party facilities including a 20,000 barrel-per-day agreement that came into effect on April 1.
Pembina says it now expects its earnings before interest, taxes, depreciation and amortization to range between $4.35 billion and $4.55 billion.
At the midpoint of that range, it marks a $175-million increase over its earlier guidance.
The company says the boost to the outlook came from a stronger contribution from its crude oil marketing business and wider refining margins.
Company CEO Scott Burrows said on a conference call Friday that Pembina is set gain further from changes in global energy trends.
“Pembina is poised to benefit from growing global energy demand, increasing strategic relevance of Canadian energy and emerging demand drivers such as LNG, petrochemicals, and data centre power demand.”
The Canadian government is pushing to increase energy exports and speed up project approvals. That should also benefit the company, but Burrows said he hasn’t seen the results yet of faster permitting.
“To date I can’t say that we’ve seen any material change. A recent example of that was our Taylor to Gordondale (pipeline) that took the full timeline to get permitted,” said Borrows.
“So, we haven’t seen it necessarily in action yet, but we are optimistic changes are coming.”
He said any added liquid natural gas build-out would be positive, and there would also likely be some indirect benefits from expansions in crude oil pipelines.
This report by The Canadian Press was first published May 8, 2026.
Ian Bickis, The Canadian Press
Read more:
