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Imperial Oil Limited
NYSE MKT: IMO
S&P/TSX 60 component [1 ]
Petroleum [2 ]
London, Ontario, Canada (1880)
Calgary, Alberta, Canada
Richard M. Kruger, Chairman, President & CEO [3 ] [4 ]
Petrochemical products [2 ]
$31,188 million CAD (2012) [2 ]
$3,766 million CAD (2012) [2 ]
$29,364 million CAD (2012) [2 ]
$16,377 million CAD (2012) [2 ]
Exxon Mobil Corp. (69.6 percent ownership stake as of December 31, 2012) [2 ]
Imperial Oil Limited (French: ( L'Impériale) TSX: IMO, NYSE MKT: IMO) is a Canadian Petroleum company. It is Canada's second-biggest integrated oil company. [2 ] [3 ] Exxon Mobil Corp. had a 69.6 percent ownership stake in the company as of December 31, 2012. It is a significant producer of crude oil and natural gas, Canada’s major petroleum refiner, a key petrochemical producer and a national marketer with coast-to-coast supply and retail networks. [2 ] Its retail operations include [2 ] - Esso brand service stations and and On the Run/Marché Express -brand Tiger Express convenience stores. [2 ] It is also known for its holdings in the [5 ] Alberta Oil Sands. Imperial owns 25 percent of [3 ] Syncrude, which is one of the world’s largest oil sands operations. [2 ]
Currently headquartered in
Calgary, Alberta, Imperial Oil was based in Toronto, Ontario until 2005. Imperial Oil maintains major corporate offices in Calgary, Toronto and Montreal. [6 ] [ ] citation needed
Most of Imperial's production is from its vast
natural resource holdings in Alberta and the Northwest Territories. [ ] citation needed
History [ edit ]
The company was
incorporated in London, Ontario in 1880 (Filey 1998:62). [7 ]
Imperial Oil discovered the Leduc Woodbend Devonian oil reef in 1947, marking the beginning of the contemporary period in Canadian oil and gas development.
Drilling began on the landmark discovery well [8 ] Leduc No. 1 on November 20, 1946. [8 ]
In 1989, Imperial Oil acquired
Texaco's Canadian operations. [9 ]
Involvement with Hockey Night in Canada [ edit ]
1934-35 season through the 1975-76 season, Imperial Oil was a sponsor of the Canadian Broadcasting Corp. program for both Hockey Night in Canada radio and television broadcasts. [10 ] [11 ]
Corporate governance [ edit ]
In February 2013, Richard Kruger,
President of ExxonMobil Production Co. and a Vice President of Exxon Mobil Corp., was appointed to be Chief Executive of Imperial Oil. His predecessor, Bruce March, left to become senior vice president of global operations for ExxonMobil Chemical Co. [3 ] [3 ]
Besides Richard Kruger, other members of the
Board of Directors of Imperial Oil are Krystyna Hoeg, Jack Mintz, David Sutherland, Darren Woods, Sheelagh Whittaker and Victor Young. [4 ]
See also [ edit ]
References [ edit ]
^ "S&P/TSX 60 Index" ( .xls). Standard & Poor's. June 28, 2013 . Retrieved July 14, 2013.
^ a b c d e f g h i j k l m . 2012 Summary Annual Report Imperial Oil Ltd. 2012 . Retrieved July 7, 2013.
^ a b c d e Bhaswati Mukhopadhyay (February 21, 2013). Sriraj Kalluvila, ed. "Imperial Oil names Exxon veteran Kruger as CEO". Reuters . Retrieved July 7, 2013.
^ a b "Board of Directors". Imperial Oil Ltd. Retrieved July 13, 2013.
^ "On The Run". Imperial Oil Ltd. Retrieved July 13, 2013.
^ Stephen Ewart (October 2, 2012). "Ewart: Imperial Oil Faces Urban-Suburban Challenge". Calgary Herald . Retrieved July 13, 2013.
^ Mike Filey (April 1, 1998). . Dundurn, Ontario. p. 144. Discover and Explore Toronto's Waterfront
^ a b Frank Dabbs (Director Petroleum History Society) (March 2004). "Before Leduc and Some Musings on the Meaning of History" (PDF). Petroleum History Society Archives (Calgary, Alberta) XV (3) . Retrieved July 13, 2013.
^ "Texaco Canada Inc". The Canadian Encyclopedia . Retrieved July 13, 2013.
^ J. Lyman Potts (January 2002). "Saturday Night Hockey / Hockey Night in Canada". Canadian Communications Foundation . Retrieved July 13, 2013.
^ Paul Patskou (August 2007). "Hockey Night in Canada - The Television Years". Canadian Communications Foundation . Retrieved July 13, 2013.
External links [ edit ]