Enbridge Inc.

Oil Majors Pour $20 Billion Into Pipelines, Producing Assets as Hormuz Risk Spikes

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Oil Majors Pour $20 Billion Into Pipelines, Producing Assets as Hormuz Risk Spikes

New York – September 16, 2026 -- Brent crude settled at $101.21 a barrel on September 9, its highest close since May 22, after a 3.4% gain as fighting between the United States and Iran escalated in the Persian Gulf, while West Texas Intermediate settled at $96.05. Roughly a fifth of the world's seaborne crude normally transits the Strait of Hormuz, and the market is now pricing the risk that it will not. Against that backdrop, four transactions worth roughly $20 billion combined have moved capital into existing pipelines, storage and producing wells rather than new drilling.

Enbridge Names Michele Harradence CEO, Succeeding Greg Ebel in 2027

Calgary – September 11, 2026 -- Enbridge Inc. (TSX: ENB) (NYSE: ENB) announced that Michele Harradence will become President and CEO effective January 1, 2027, succeeding Greg Ebel, who will retire December 31, 2026.

Board appoints Harradence to CEO role and Board of Directors

Harradence, currently Executive Vice-President and President of Gas Distribution and Storage, will also join Enbridge's Board of Directors upon taking over as CEO. Ebel will remain a Board member through his retirement date and serve as an advisor to the Board and Harradence from January through May 2027.