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Imperial Oil Limited is a Canadian petroleum company. It is Canada's second-biggest integrated oil company. 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. Its retail operations include Esso-brand service stations and On the Run/Marché Express and Tiger Express-brand convenience stores. It is also known for its holdings in the Alberta Oil Sands. Imperial owns 25 percent of Syncrude, which is one of the world’s largest oil sands operations.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.Most of Imperial's production is from its vast natural resource holdings in Alberta and the Northwest Territories. Wikipedia.


News Article
Site: http://news.yahoo.com/energy/

(Reuters) - Imperial Oil Ltd , Canada's No. 2 integrated oil producer and refiner, said it agreed to sell 497 remaining company-owned Esso retail stations to five fuel distributors for about C$2.8 billion ($2.09 billion). The buyers include Alimentation Couche-Tard Inc , 7-Eleven Canada Inc and Parkland Fuel Corp , the company said on Tuesday. All the three companies already operate Esso-branded stations in the country. Imperial, majority-owned by Exxon Mobil Corp , said in January 2015 it was evaluating selling the stations. Some 1,200 of the company's 1,700 Esso-branded sites operate under a wholesaler model, where the stations are owned by other parties but retain the Esso brand and are supplied by Imperial. Imperial Oil said on Tuesday it expects the sales to close by the year-end.


News Article
Site: http://news.yahoo.com/energy/

President and CEO Rich Kruger of Imperial Oil addresses shareholders during the company's annual general meeting in Calgary, Alberta, April 30, 2015. REUTERS/Todd Korol More (Reuters) - Imperial Oil Ltd , Canada's No.2 integrated oil producer and refiner, reported a lower-than-expected quarterly profit, hurt by a prolonged slump in crude oil prices. Imperial, like most its peers, endured a torrid fourth quarter in which global oil prices continued to slide. Exxon Mobil Corp , which owns 69.6 percent of Imperial, also reported a 58 percent drop in quarterly profit on Tuesday. Imperial said gross production averaged 400,000 barrels of oil equivalent per day, up from 315,000 a year earlier. The company sold its bitumen from oil sands for an average price of C$22.82 per barrel, compared with C$52.37 per barrel a year earlier. Synthetic crude selling prices fell 31.1 percent to an average of C$56.56 per barrel, the company said. Imperial said net income fell to C$102 million ($72.9 million), or 12 Canadian cents per share, in the fourth quarter ended Dec. 31, from C$671 million, or 79 Canadian cents per share, a year earlier. Analysts had expected a profit of 30 Canadian cents per share, according to Thomson Reuters I/B/E/S.


News Article | March 9, 2016
Site: http://www.ogj.com

Imperial Oil Ltd., Calgary, is selling its remaining 497 company-owned retail outlets to five fuel distributors for $2.8 billion (Can.).


News Article | March 14, 2016
Site: http://www.ogj.com

Imperial Oil Ltd., Calgary, has filed regulatory applications with Alberta Energy Regulator for a 50,000-b/d expansion of its steam-assisted gravity drainage (SAGD) oil sands operations at the Cold Lake lease area.


Blum M.,ExxonMobil | Martin J.,ExxonMobil | Milliken K.,ExxonMobil | Milliken K.,Chevron | And 2 more authors.
Earth-Science Reviews | Year: 2013

Ancient fluvial valley systems are long recognized as important features in the stratigraphic record, but emerged as a specific focus of attention with publication of first-generation sequence-stratigraphic concepts. This paper reviews current understanding of paleovalley systems from the perspective of Quaternary analogs and experimental studies.Paleovalley systems can include distinct mixed bedrock-alluvial, coastal-plain, and cross-shelf segments. Mixed bedrock-alluvial segments are long-lived, cut across bedrock of significantly older age, and have an overall degradational architecture. By contrast, coastal-plain and cross-shelf segments are non-equilibrium responses to high-frequency cycles of relative sea-level change: most coastal-plain and cross-shelf segments form as a geometric response to relative sea-level fall, as river systems cut through coastal-plain and inner shelf clinothems, and extend basinward to track the shoreline. After incision and cross-shelf extension, lateral channel migration and contemporaneous channel-belt deposition creates a valley-scale feature. Coastal-plain and cross-shelf paleovalley widths are set by the number of channel-belt sandbodies deposited during this time.Paleovalley systems play a key role in source-to-sink sediment routing. Early views included the model of incision and complete sediment bypass in response to relative sea-level fall. However, this model does not stand up to empirical, theoretical, or experimental scrutiny. Instead, there is a complex dynamic between incision, deposition, and sediment export from an evolving valley: periods of incision correspond with sediment export minima, whereas periods of lateral migration and channel-belt construction result in increased flux to the river mouth. Sediment export from evolving valleys, and merging of drainages during cross-shelf transit, play key roles in sediment transfer to the shelf-margin and genetically-linked slope to basin-floor systems. Connection between the river mouth and the shelf margin likely occurs for different periods of time depending on gradient of the river and shelf, as well as amplitude of high-frequency sea-level changes.Late Quaternary analogs and experimental studies provide an alternative sequence-stratigraphic interpretation for paleovalley systems. In coastal-plain paleovalleys, basal valley-fill surfaces meet criteria for an unconformity and a classically-defined sequence boundary: however, this surface is mostly everywhere of the same age as overlying fluvial deposits, and does not correspond to a long period of incision and sediment bypass. In cross-shelf paleovalleys, the basal contact between fluvial and deltaic or shoreface deposits is commonly interpreted as a sequence boundary, but is not an unconformity characterized by incision and sediment bypass. Instead, this surface is a facies contact that separates genetically-related fluvial and deltaic strata: the surface that correlates to the basal valley-fill surface within the coastal-plain paleovalley dips below cross-shelf prograding deltaic and/or shoreface strata, which are fed by deposition within the evolving valley itself, and should be the downlap surface.Many issues deserve attention in the future. We have stressed understanding the inherent scales and physical processes that operate during the formation and evolution of paleovalley systems. We also suggest the relative roles of allogenic forcing vs. autogenic dynamics, and the potential significance of high-frequency isostatic adjustments should be topics for future discussion. © 2012 Elsevier B.V. Source

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