Imperial Oil Limited

What Imperial Oil Limited does

Imperial Oil Limited is one of Canada's oldest integrated energy companies, founded in 1880 and headquartered in Calgary, Alberta. The company explores for and produces crude oil and natural gas — primarily through oil sands mining operations at Kearl and Cold Lake — and operates downstream refining and marketing infrastructure including refineries at Strathcona (Edmonton), Sarnia, and Nanticoke, supported by the Finch Terminal in Toronto (the highest-throughput terminal in ExxonMobil's North American network). Imperial is majority-owned by ExxonMobil Corporation, which holds approximately 69.6% of outstanding shares, with the residual float trading on the Toronto Stock Exchange and NYSE American under ticker IMO. FY 2025 production reached 438,000 gross oil-equivalent barrels per day, the highest annual output in over 30 years.

The company's product portfolio centers on Esso and Mobil branded retail fuels, lubricants, and chemical products distributed through a coast-to-coast network of company- and dealer-operated retail stations across Canada. Imperial also serves industrial and commercial customers through direct bulk fuel and energy product sales. The company generates revenue through commodity sales across upstream (production) and downstream (refining and marketing) operations, with Q1 2026 downstream earnings of C$611 million, and returns capital to shareholders via quarterly dividends (current annualized C$3.48, 31 consecutive years of increases) and active share buybacks — a C$3.18 billion program completed in December 2025 and a new normal course issuer bid approved in June 2026 for up to 24.2 million shares.

Imperial is also pursuing carbon capture and storage through the Pathways Alliance, targeting 6 mtpa of emissions reductions by 2035 as part of a broader C$16.5 billion industry initiative involving five major oil sands producers, and entered a joint venture in July 2026 with Trans Mountain, Pembina and the Alberta Petroleum Marketing Commission to build a new west coast pipeline capable of exporting one million barrels per day to Asian markets.

Name

Imperial Oil Limited

Legal name

Imperial Oil Limited

Website

https://imperialoil.ca

Company type

Public

Founded year

1879

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Imperial Oil Limited is a Canadian integrated energy company that explores for and produces crude oil and natural gas through oil sands operations, refines petroleum products, and markets Esso and Mobil branded fuels, lubricants, and chemicals across Canada.

Ownership category

akta.pro rank

Product category

Integrated Oil and Gas

NAICS

Petroleum Refineries (324110), Crude Petroleum Extraction (21112), Petroleum Lubricating Oil and Grease Manufacturing (324191)

SIC

Petroleum Refining (2911), Crude Petroleum & Natural Gas (1311), Miscellaneous Products Of Petroleum & Coal (2990), Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Oilfield & Refining Specialty Chemicals (IMAEABAI)

akta.pro secondary industries

Industrial Lubricants (Hydraulics, Gear, Compressor, Turbine, Metalworking) (EUALAJAG), Crude Oil Tank Farms & Terminals (TLAGAKAA), Refined Products Pipeline Terminals & Breakout Storage Operations (TLAGABAJ), Process Oils & White Oils (IMAEAMAK)

Keywords

• Oil sands production
• Petroleum refining
• Fuel marketing
• Lubricant manufacturing
• Low carbon solutions

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Upstream Operations: Oil and gas production including oil sands operations at Kearl and Cold Lake, conventional production. First-quarter 2026 average production of 419,000 barrels per day.
2. Downstream Operations: Refining and marketing operations delivering first-quarter 2026 downstream earnings of C$611 million through coast-to-coast logistics network
3. Retail Fuel Sales: High-quality fuels, lubricants and chemical products marketed under Esso and Mobil brands through retail stations across Canada
4. Shareholder Returns: Quarterly dividend payments (87 cents per share Q2 2026) and share buyback programs reflecting strong cash generation

Go-to-market motion1 record

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 through oil sands operations at Kearl and Cold Lake), refines petroleum at its Sarnia, Strathcona, and Nanticoke refineries, and markets high-quality fuels, lubricants, and chemical products under the Esso and Mobil brands through a coast-to-coast retail station network and direct commercial sales. It also participates in low-carbon solutions including the Pathways Alliance carbon capture and storage project.

Product overview

Imperial Oil Limited is an integrated energy company operating in Canada's petroleum industry. The company operates across the value chain from exploration and production (upstream) to refining and marketing (downstream). Its product portfolio consists of high-quality fuels, lubricants, and chemical products marketed primarily under the Esso and Mobil retail brands through a coast-to-coast network of retail stations. The company also produces crude oil and natural gas from oil sands operations and maintains refineries to process petroleum products. Key products include Esso and Mobil branded fuels for personal and business transportation, motor oils and lubricants, and chemical products. The company leverages its structural advantages from its logistics network and expansion projects at facilities like Kearl and Cold Lake.

Differentiator

Problem solved

Functional benefit

Brands

• Esso: Fuel brand marketed by Imperial for personal and business customer needs including gasoline, diesel, and related products
• Mobil

Products and services

• Esso Branded Fuels High-quality fuels marketed under the Esso brand, available at retail stations across Canada for personal and business transportation needs.
• Mobil Branded Fuels Premium fuels marketed under the Mobil brand, serving customers across Canada with high-quality petroleum products for personal and business transportation.
• Imperial Lubricants Motor oils and other lubricant products marketed under Esso and Mobil brands, serving automotive and industrial lubrication needs.
• Imperial Chemical Products Chemical products manufactured and marketed by Imperial Oil as part of its integrated downstream operations.
• Esso and Mobil Retail Station Network Coast-to-coast retail station network marketing fuels under Esso and Mobil brands across Canada, including loyalty programs such as PC Optimum Rewards.

Quantifiable outcome

• Highest annual production in over 30 years at 438,000 gross oil-equivalent barrels per day in 2025
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Seven partnerships are on record, tiered core and minor.

• Oil Sands AlliancecoreStrategic or Co-development Partner · 2 July 2026Trilateral MOU with Canada and Alberta committing to reduce emissions by 16 million tonnes per annum through CCS projects, including Pathways CCS targeting 6 mtpa by 2035. Alliance comprises Imperial, Suncor, Cenovus, Canada Natural Resources, and ConocoPhillips.
• Trans Mountain CorporationcoreStrategic or Co-development Partner · 2 July 2026Joint venture partner in new west coast pipeline to transport one million barrels of oil daily from Alberta to BC for export to Asian markets, with real Indigenous equity participation rights.
• Alberta Petroleum Marketing CommissioncoreStrategic or Co-development Partner · 2 July 2026Joint venture partner in new west coast oil pipeline development with Trans Mountain Corporation and Pembina Pipeline.
• Pembina Pipeline CorporationcoreStrategic or Co-development Partner · 2 July 2026Joint venture partner in new west coast oil pipeline development with Trans Mountain Corporation and Alberta Petroleum Marketing Commission.
• IndspirecoreStrategic or Co-development PartnerIndigenous-led national charity partnership since 2003. Over $2 million provided to support Indigenous students through Building Brighter Futures program. More than 600 Indigenous students supported with scholarships or bursaries. Also supports Soaring Indigenous Youth Empowerment Gathering since 2018.
• TELUS SparkminorStrategic or Co-development PartnerScience centre partner since 1999, invested nearly $1 million in STEM initiatives in Calgary. Early partner in BLUprint program promoting trades careers to youth.
• ExxonMobil CorporationcoreOthersMajority shareholder holding approximately 69.6%. Provides procurement services to Imperial Oil Limited. Participates in share buybacks to maintain proportionate ownership.

Scale indicators20 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• ExxonMobil: Imperial's 69.6% parent and the global supermajor. Operates broadly across upstream, refining, petrochemicals, and emerging low-carbon solutions; comparable in integrated business model but at vastly larger global scale.
• Chevron: Global integrated supermajor with upstream, downstream, and chemicals operations. Comparable in integrated structure and capital allocation philosophy, though more geographically diversified and less oil sands exposed.
• ConocoPhillips: Independent E&P with significant North American unconventional and conventional production. Fellow Oil Sands Alliance member; comparable on upstream portfolio and CCS strategy though with limited refining/retail integration.

Direct peers

• Valero Energy: Largest US independent refiner with refining and wholesale marketing operations. Comparable in refining scale and downstream capital intensity; lacks upstream integration.
• Cenovus Energy: Canadian oil sands integrated producer formed through the Cenovus-Husky merger, with refining and upgrading assets. Directly comparable in oil sands exposure, refining footprint, and Canadian retail/wholesale marketing.
• Canadian Natural Resources: Canada's largest oil sands and conventional crude producer and fellow Oil Sands Alliance member. Highly comparable upstream asset base and Pathways CCS partnership involvement.
• Marathon Petroleum: One of the largest US refiners with extensive refining, marketing, and midstream operations. Comparable in downstream/marketing scale and capital return discipline, though primarily US-focused rather than Canadian.
• Suncor Energy: Canada's largest integrated energy company with oil sands operations, refining, and Petro-Canada retail network. Closest direct comparable to Imperial's upstream-to-retail model in the Canadian market.
• Phillips 66: Integrated downstream and midstream operator with refining, marketing, and chemicals businesses. Comparable in downstream complexity and chemicals exposure; less upstream integration than Imperial.

Regional players

• Parkland Corporation: Canadian fuel marketer and convenience retailer with refining and distribution across the Americas. Comparable in Canadian downstream/retail focus, but smaller scale and primarily downstream rather than integrated.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 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

Profiles8 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 Limited