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Imperial Oil Ltd. engages in the provision of integrated oil business. It operates through the following business segments: Upstream, Downstream, Chemical, and Corporate and Other. Read More The Upstream segment includes the exploration and production of crude oil, natural gas, synthetic oil, and bitumen. The Downstream segment focuses on refining crude oil into petroleum products. The Chemical segment manufactures and markets hydrocarbon-based chemicals, and chemical products. The Corporate and Other segment covers assets and liabilities that do not specifically relate to business segments. The company was founded on September 8, 1880 and is headquartered in Calgary, Canada.
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Oil and Gas
Imperial Oil Ramps Down Aspen Project Amid Market Uncertainty
Imperial Oil IMO has decided to decelerate development of Aspen in situ oil sands project amid pipeline crisis and market uncertainty in Canada.
Financial PostMar 15
Imperial's Aspen project was 'the exception' to Canada's stagnant oil growth outlook. Not anymore
CALGARY – Five months after green-lighting a new oilsands project, Imperial Oil Ltd. has reversed course and is slowing construction work on the $2.6-billion Aspen development as new oil production growth stagnates. “This was a difficult choice in light of our final investment decision on Aspen announced in November,” Imperial president and CEO Rich Kruger said in a release Friday. “However, we cannot invest billions of dollars on behalf of our shareholders given the uncertainty in the current business env...
Yahoo FinanceMar 15
Exxon Delays $1.9 Billion Canada Project Amid Oil-Sands Woes
(Bloomberg) -- Exxon Mobil Corp. is delaying a C$2.6 billion ($1.9 billion) oil-sands project in Canada by at least a year as the nation’s energy industry grapples with a shortage of pipeline space and government-mandated production cuts. Exxon’s Canadian subsidiary, Imperial Oil Ltd., had originally planned to bring the 75,000-barrel-a-day Aspen project online in 2022, but is now slowing the pace of development at the site in northern Alberta. Any decision to resume normal activity will depend on future g...
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