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Pembina moves and processes oil and natural gas liquids for energy producers and pays them for the service.
Pembina Pipeline is a middleman for energy. It doesn't drill for oil or gas. Instead, it owns the pipes, processing plants, and storage tanks that sit between the people who pull oil and gas out of the ground and the refineries and ports that turn it into something you can burn. Producers pay Pembina to move and clean up their product, and that fee-based model means Pembina usually gets paid no matter what the price of oil does that day.
Think of it as the toll road and car wash for western Canada's energy industry. The company makes money through a few connected pieces. Its pipelines business collects fees for shipping crude oil and natural gas liquids across the prairies and down into the United States. Its facilities segment processes raw gas into useful liquids and stores them. A newer marketing business actually buys and sells some energy products itself, which adds profit but also risk. Most of the money — well over half — comes from the steady fee-based pipelines and facilities, while marketing swings with prices.
Pembina is based in Calgary, Alberta, right in the middle of Canada's oil patch, which is why its pipes cluster in Alberta and British Columbia. The company started in the 1950s and grew by buying and building new pipeline systems over decades. It pays a healthy dividend to shareholders and has been involved in large deals, including a major acquisition of Inter Pipeline in 2021. More recently, it has been pushing into new areas like natural gas liquids exports and a proposed liquefied natural gas project on Canada's west coast, which would let Canadian gas reach buyers in Asia.
Saved answer · last researched 11 Oct 2026