CurtailmentThere is going to be pressure on Kenny from the big 3 to eliminate the curtailment but for all companies other than the big 3 and for the Alberta Government (royalties) the current differentials allow for a decent return.
Provincial inventories will drop significantly over the next 2 months due to Thermal facility turn arounds, with about 24.000,000 barrels of blend coming off line. Hopefully the Alberta Government realize that this inventory relief is just tempory and does not cancel curtailment because of the inventory drop because the production will return in late June.
Imperial Oil doesn't like the low differentials because mother EXXON has to pay more for their feedtock for their American refineries than they did at the higher differentials.Rich Krueger (Imperial CEO ) is complaining about the curtailment intervention but he is really not acting in the best interest of Imperial Oil but is in place to lobby for EXXON which is why he is so outspoken about curtailment. Typical American executive!!