“This intervention appears not to recognize the investment decisions companies have made to access higher value markets,” Rich Kruger, chief executive of Imperial Oil said in a statement on Monday, adding that the company is reviewing the potential impact to its investments.
Alberta Premier Rachel Notley said on Sunday that the government will force producers to cut output by 8.7 percent, or 325,000 barrels per day (bpd), until the excess crude in storage is drawn down.