Pembina Pipeline

The company can be traced back to 1954 when the Pembina pipeline system was built to serve the Pembina oil field in the Drayton Valley region. For the next 37 years, the company's main operations were centred on oil delivery to Edmonton using the Pembina pipeline.

The company made its first acquisition, Peace Pipe Line Ltd., in 1991. Five years later, it bought half of the Bonnie Glen System, a 250 km-long network serving oil fields in central Alberta. Inter Pipeline Fund, the leading transporter of oilsands bitumen, was also established in 1997.

Three years later in 2000, Pembina took over Federated Pipe Lines Ltd. in a $340 million deal from a group headed by Imperial Oil (Pembina needed to use a $420 million credit facility). After the takeover, Pembina's network in Western Canada was 7,000 km long and transported nearly 550,000 b/d of oil and natural gas.

In 2001, Pembina sold a salt cavern in Hardisty to Canadian Crude Separators Inc., and acquired 100 percent of the main Syncrude pipeline by taking over its operator, Alberta Oil Sands Pipeline Ltd. for $225 million. The buyout of Alberta Oil Sands Pipeline was instrumental in Pembina's growth by giving them access to a number of large oil and gas customers, including Imperial Oil, Conoco Oil, Nexen, and Petro-Canada.

On June 24, 2003, Pembina bought 50 percent of an ethylene storage facility in Fort Saskatchewan for $185 million from NOVA Chemicals Corp, the other 50 per cent owned by Dow Chemical Canada.

On June 2, 2009, Pembina acquired the Cutbank Complex from a Talisman Energy subsidiary for $300 million in cash (provided by a credit facility).

In 2012, Pembina purchased Provident Energy, a Canadian company, for $3.1 billion in stock. In 2017, it purchased rival energy infrastructure corporation Veresen, for $9.7 billion. At the time, Veresen was primarily a natural gas transportation company, while Pembina focused on transporting oil and other liquids.

In 2019, Pembina purchased Kinder Morgan Canada Limited, along with a portion of the Cochin pipeline, for $4.35 billion.

Operations are segmented into three main areas: (1) infrastructure for transporting conventional oil, (2) infrastructure for transporting oil sands and heavy oil, and (3) services related to storage and logistics (terminals, hubs, and midstreams), as well as marketing.

Conventional oil infrastructure

These operations oversee pipelines in British Columbia and Alberta that transport crude oil and natural gas liquids. There are two main systems: the Alberta System and the BC System.

The Alberta System wholly owns and runs three systems (all in operation since the 1950s), the largest of which is the Peace System (2009), and owns 50% of another, the Glen System (shared with Keyera Energy), and has a 10% interest in the Wabasca Oil Field System. Equal Energy Ltd is one of many minor producers that use the peace pipeline. Equal's 16 wells near Grande Prairie, Alberta, deliver oil to the system.

BC System, 100% owned, has been in operation since 1960, and encompasses 3 storing facilities. The crude oil pipelines run in northeastern BC and connect Taylor to Kamloops. The total capacity is half of the smallest Alberta pipeline system (80,000 b/d in May 2009).