Imperial Oil Ltd - Company Profile
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Business Description
Imperial Oil Ltd (Imperial Oil) is a subsidiary of Exxon Mobil Corporation, is a vertically integrated oil and gas company.
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R&D Overview
Imperial’s R&D team focuses on developing technologies for improving bitumen recovery, reducing costs and the environmental impact of upstream operations. It also supports environmental and process improvements in the refineries and the development of new technologies to reduce greenhouse gas emissions intensity. It has scientific research agreements with ExxonMobil’s affiliates, which provide mutual access to scientific and operating data related to all phases of petroleum and petrochemical operations. The agreements facilitate the exchange of technical information, technical and engineering work to be performed by all parties, assignment and licensing of patents and patent rights. In FY2022, Imperial Oil spent CAD74 million on R&D, which decreased 16.9% YoY.
Business Segments
Overview
It manufactures and markets petrochemical products including benzene, aromatic and aliphatic solvents, plasticizer intermediates and polyethylene resin. It operates petrochemical and polyethylene production in Sarnia, Ontario.
Performance
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Overview
Comprises refining and blending of crude oil into petroleum products; marketing and sales of petroleum products; and manufacturing and marketing of lubricants and specialties. Product portfolio includes gasoline, heating, diesel, jet fuels, heavy fuel oils, lube oils and other products. Operates retail outlets and markets its petroleum products under the Mobil and Esso brands. It supplements own production of crude oil, condensate and petroleum products with purchases from other sources. Operates refineries in Strathcona, Alberta; Sarnia, Ontario; and Nanticoke, Ontario. Also purchases finished products to supplement its refinery production; and transports crude oil to refineries through contracted pipelines, common carrier pipelines and rail. Owns and operates Edmonton rail terminal; and nationwide distribution system, and products and natural gas liquids pipelines in Manitoba, Alberta and Ontario. Also owns interests in product pipeline companies.
Performance
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Overview
It carries out the exploration and production of crude oil, natural gas, synthetic oil and bitumen. Major exploration areas include Western provinces, Canada lands, and the Atlantic offshore. Its Western provinces include 161,000 net acres of oil sands leases in Cold Lake; 34,000 net acres of leases in the Kearl area; 173,000 net acres in the Athabasca region. Also operates 68,000 undeveloped mineable oil sands acreage in the Athabasca region. The Canadian lands include around 252,000 net acres of exploration license (EL) in the Beaufort Sea and around 183,000 net acres of significant discovery license (SDL) acreage in the Beaufort Sea and Mackenzie Delta. The segment incurred capital expenditure of CAD1,128 million, increasing 78.5% YoY.
Performance
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