Latest Videos

{{ currentStream.Name }}

Related Video

Continuous Play:
ON OFF

The information you requested is not available at this time, please check back again soon.

More Video

Aug 4, 2022

Pembina Pipeline's profits rise on higher crude, natural gas prices

Alex Ruus discusses Pembina Pipeline

VIDEO SIGN OUT

Security Not Found

The stock symbol {{StockChart.Ric}} does not exist

See Full Stock Page »

Pembina Pipeline Corp. says it earned $418 million in the second quarter, reflecting higher natural gas liquids (NGL) and crude oil prices and margins, as well as rising volumes on its key pipeline systems.

The Calgary-based energy infrastructure company says its profit works out to 69 cents per diluted common share, up from $254 million or 39 cents per diluted common share in the second quarter of 2021.

Pembina Pipeline reported second-quarter revenue of $3.1 billion, up from $1.9 billion in the prior year's quarter.

The company also adjusted its earnings guidance for the full year 2022 to between $3.575 billion and $3.675 billion, compared to a previously forecast range of $3.45 billion to $3.6 billion.

Pembina says its second quarter was positively impacted by higher volumes and higher tolls on certain pipeline systems.

But its overall pipeline volumes of 2.5 billion barrels of oil equivalent per day reflected a six per cent decrease year-over-year. The company says this was largely due to the bankruptcy filing of the Houston-based Ruby pipeline, in which Pembina owns a 50 per cent stake along with Kinder Morgan Inc.