Imperial Oil

What Imperial Oil does

Imperial Oil Limited is a Canadian integrated energy company founded in 1880 and headquartered in Calgary, Alberta, majority-owned (approximately 69.6%) by ExxonMobil since 1898. The company operates across the full hydrocarbon value chain: upstream exploration and production centered on Alberta oil sands assets (Kearl, producing approximately 280,000 bbl/d in 2025, and Cold Lake, targeting 165,000 bbl/d with the industry's first commercial solvent-assisted SAGD project at Grand Rapids), downstream refining and marketing through the Strathcona refinery (Canada's largest petroleum refiner producing approximately 650 products), and retail distribution via more than 2,000 Esso and Mobil branded service stations coast-to-coast. Imperial manufactures and sells roughly one quarter of the petroleum products used daily by Canadians.

The business model is commodity-driven revenue across three streams: upstream production sold at market prices, refining throughput (2026 guidance of 395,000–405,000 bbl/d), and retail/wholesale fuel marketing supplemented by the PC Optimum loyalty program. Pricing is not publicly disclosed and tracks commodity benchmarks. Go-to-market combines traditional sales-led wholesale and industrial channels with brand-led retail through dual Esso/Mobil station networks and event-driven marketing including the NHL Official Retail Fuel partnership.

Underlying technology differentiation includes proprietary Steam Assisted Gravity Drainage (SAGD) and solvent-assisted SAGD methods, a proprietary froth treatment process that eliminates the need for an upgrader, cogeneration at Kearl, the Enhanced Thickened Tailings (eTT) water recovery technology advancing toward 2027 commercialization, and one of the world's largest autonomous haul truck fleets at Kearl. The company is also diversifying into lower-carbon energy through its 2025-launched Strathcona renewable diesel facility (20,000 bbl/d, approximately 1 billion litres annually), the Low Carbon Solutions organization established in 2023, and participation in the $16.5 billion Pathways Alliance carbon capture project.

Name

Imperial Oil

Legal name

Imperial Oil Limited

Website

https://imperialoil.ca

Company type

Public

Founded year

1880

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Imperial Oil is a Canadian integrated energy company majority-owned by ExxonMobil that produces oil sands bitumen at Kearl and Cold Lake, refines petroleum products at Strathcona (Canada's largest refiner), and markets fuels through 2,000+ Esso and Mobil retail stations across Canada.

Ownership category

akta.pro rank

Product category

Integrated Petroleum and Oil Sands Operations

NAICS

Petroleum Refineries (324110), Oil and Gas Extraction (211), Petroleum Lubricating Oil and Grease Manufacturing (324191)

SIC

Petroleum Refining (2911), Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Distillation & Fractionation (Crude, Condensate & NGL Splitters) (EUALAGAD)

akta.pro secondary industries

Oilfield & Refining Specialty Chemicals (IMAEABAI), Crude Oil Tank Farms & Terminals (TLAGAKAA)

Keywords

• Oil sands extraction
• Petroleum refining
• Retail fuel marketing
• Renewable diesel production
• Upstream energy production

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Upstream Exploration and Production: Imperial explores for and produces crude oil and natural gas from oil sands deposits in Alberta. The company produced approximately 419,000 boe/d in Q1 2026, with major operations at Kearl (~280,000 bbl/d) and Cold Lake.
2. Refining and Marketing: Imperial is Canada's largest refiner of petroleum products, refining raw hydrocarbons into about 650 petroleum products including gasoline, diesel, heating oil, natural gas, lubricants, and chemicals. Products are marketed under Esso and Mobil brands.
3. Retail Fuel Sales: Imperial sells fuels through Esso and Mobil branded service stations across Canada, including participation in PC Optimum loyalty program. The company manufactures and sells about a quarter of petroleum products used daily by Canadians.
4. Renewable Diesel Production: Imperial started producing renewable diesel at its Strathcona refinery in 2025. The facility has capacity of 20,000 barrels per day (approximately 1 billion litres annually), making it the largest renewable diesel facility in Canada.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Imperial Oil is an integrated Canadian energy company that explores for and produces crude oil and natural gas primarily from Alberta oil sands (Kearl and Cold Lake), refines raw hydrocarbons into approximately 650 petroleum products at facilities including the Strathcona refinery, and markets fuels, lubricants and specialty products under the Esso and Mobil brands through retail service stations and industrial/wholesale channels across Canada. The company also produces renewable diesel and is developing lower-emission technologies through its Low Carbon Solutions organization.

Product overview

Imperial Oil is an integrated energy company that operates as a single unified business combining upstream exploration/production and downstream refining/marketing operations. The company operates major oil sands assets (Kearl, Cold Lake), refineries (Strathcona), and markets approximately 650 petroleum products under the Esso and Mobil brands. Recent additions include Canada's largest renewable diesel facility at Strathcona (2025) and the pioneering Grand Rapids solvent-assisted SAGD project (2024) representing the industry's first commercial application of this technology.

Differentiator

Problem solved

Functional benefit

Brands

• Esso: Retail fuel brand for Imperial Oil, operating service stations across Canada
• Mobil

Products and services

• Kearl Oil Sands Project Imperial's major oil sands mining development northeast of Fort McMurray, Alberta, utilizing mining extraction and a fully autonomous haul truck fleet, with 2025 gross production of approximately 280,000 barrels per day.
• Cold Lake Operations Imperial's in-situ bitumen extraction operations in northeastern Alberta using SAGD and the pioneering Grand Rapids solvent-assisted SAGD technology, with a target production of 165,000 bbl/d including the Mahihkan project.
• Strathcona Refinery Imperial's refinery near Edmonton, Alberta, producing conventional petroleum products and Canada's largest renewable diesel facility with capacity of approximately 1 billion litres annually.
• Esso Branded Fuels Retail fuel brand marketed across Canada through the Esso station network, offering gasoline, diesel, lubricants and related petroleum products to consumers and businesses.
• Mobil Branded Fuels Premium retail fuel brand available at Mobil stations across Canada as part of Imperial's dual-brand retail strategy alongside Esso.
• Petroleum Products Portfolio Imperial manufactures and sells approximately 650 petroleum products including gasoline, diesel, heating oil, natural gas, lubricants, chemicals and asphalts to consumers and businesses across Canada.
• Industrial Lubricants and Specialty Products Industrial fuels, lubricants, asphalts and specialty products supplied to industrial and wholesale business customers for commercial operations.

Quantifiable outcome

• Highest annual crude oil production in over 30 years at 438,000 barrels per day (2025)
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered minor, flagship and core.

• Canada-Wide Science FairminorGTM or Marketing Partner · 13 May 2026Imperial supported the 2026 Canada-Wide Science Fair as partner of Tour Day on May 27 and the Energy Challenge throughout the week. The event featured 344 projects by 390 student finalists showcasing STEM projects.
• Emissions Reduction Alberta (ERA)flagshipStrategic or Co-development Partner · 4 March 2026Emissions Reduction Alberta awarded up to $12.8 million to advance Imperial's Enhanced Thickened Tailings (eTT) technology toward commercialization. The technology improves water recovery at Kearl oil sands mine and supports long-term reclamation.
• Prime Minister Mark Carney / Federal GovernmentcoreStrategic or Co-development Partner · 1 June 2025Prime Minister Mark Carney held roundtable discussions with oil and gas executives including Imperial Oil president John Whelan to discuss 'partnerships' toward making Canada an energy superpower. 38 energy CEOs signed letter calling for policy reforms including scrapping emissions caps and repealing industrial carbon pricing.
• Build Canada Now CoalitionminorGTM or Marketing Partner · 18 March 2025Imperial joined 14 other major Canadian oil and gas companies in signing an open letter urging federal political party leaders to adopt policies supporting expanded energy production and exports. Recommendations include simplifying Impact Assessment Act, eliminating emissions cap, and providing Indigenous loan guarantees.
• ELITE Program (University of Alberta)coreStrategic or Co-development Partner · 5 February 2025Imperial partnered with the University of Alberta's Experiential Learning in Innovation, Technology, and Entrepreneurship (ELITE) Program for Black Youth. Imperial donated $30,000 and hired two University of Alberta engineering students for summer internships in 2025. The partnership supports recruitment and diversity in STEM fields.
• Pathways AlliancecoreStrategic or Co-development Partner · 1 January 2021Imperial Oil is a founding member of the Pathways Alliance, comprising major oil sands companies (Cenovus Energy, Imperial Oil, Suncor Energy, and others) working collectively on the $16.5 billion Pathways carbon capture and storage project. The project aims to capture 16 million tonnes of CO2 annually from oilsands operations through a 650+ km pipeline network to storage sites in the Cold Lake region by 2045.
• National Hockey League (NHL)flagshipGTM or Marketing Partner · 1 January 2019Imperial and Esso became the Official Retail Fuel of the NHL in Canada through a multi-year agreement announced in 2019. Partnership includes support for Little NHL tournament - the largest Indigenous youth hockey tournament in Canada with over 270 teams.
• PC Optimum Loyalty ProgramcoreGTM or Marketing Partner · 1 January 2018Imperial became official fuel partner of the PC Optimum loyalty program in 2018, allowing customers to earn PC Optimum points at more than 2,000 Esso and Mobil stations across Canada.

Scale indicators15 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Cenovus Energy: Cenovus is a major Canadian oil sands producer with refining capacity acquired from Husky Energy. Like Imperial, it is a founding Pathways Alliance member and operates integrated upstream and downstream assets in Western Canada.
• Suncor Energy: Suncor is Canada's largest integrated energy company with oil sands mining (Firebag), in-situ operations, refining, and retail (Petro-Canada). Closest direct peer to Imperial given overlapping Canadian oil sands and refining footprint and shared Pathways Alliance membership.
• Canadian Natural Resources: CNRL is Canada's largest oil sands producer with mining, in-situ, and primary heavy oil operations, plus downstream interests. Comparable to Imperial on Alberta oil sands scale, though with less downstream retail integration.
• Marathon Petroleum Corporation: Marathon Petroleum is the largest US refiner, comparable to Imperial's downstream refining scale and product portfolio. Both operate large integrated refining systems with logistics and marketing arms, though Marathon is pure downstream.

Broad incumbents

• Chevron Corporation: Chevron is a global integrated oil major with upstream, refining, and marketing operations. Comparable to Imperial on integrated structure and oil sands/light tight oil exposure, but with a broader international portfolio.
• BP plc: BP is a global integrated energy major with upstream production, refining capacity, and retail networks. Comparable to Imperial on integrated model and energy transition positioning, though focused on different geographies.
• Shell plc: Shell is a global integrated energy major with significant refining and retail operations. Comparable to Imperial's integrated value chain and energy transition investments, though Shell operates at much greater geographic and segment scale.
• Phillips 66: Phillips 66 is a major US-based integrated downstream and midstream operator with refining, chemicals, and marketing. Comparable to Imperial's refining and branded fuels businesses, but with no significant upstream oil sands exposure.
• Exxon Mobil Corporation: ExxonMobil is Imperial's 69.6% controlling shareholder and the world's largest integrated supermajor. As the parent entity, it shares Imperial's integrated business model but operates globally with vastly larger scale and diversification.

Regional players

• Parkland Corporation: Parkland is a Canadian fuel distributor and retailer operating the On the Run / Ultramar brands, competing with Imperial's Esso/Mobil network. It complements (rather than competes directly with) Imperial's upstream and refining but overlaps in Canadian retail fuel marketing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ImperialOil
• YouTubeyoutube.com/user/ImperialOil
• Facebookfacebook.com/ImperialOilLimited
• LinkedInlinkedin.com/company/imperial-oil

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Imperial Oil