Imperial Oil Company News

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Biden Keystone XL Snub Props Up Crude-by-Rail
Oil exports by rail from Canada have more than tripled since July.
7:00 PM EST | February 23, 2021
ExxonMobil Unit Shuts Oil Sands Mine After Pipeline Spill
ExxonMobil's Imperial Oil shut down its oil-sands mine after a spill from a pipeline that supplies diluent to the operation.
8:00 PM EST | September 01, 2020
Imperial Oil Names New SVP, Upstream
He succeeds John Whelan, who has been named VP, Global Heavy Oil, ExxonMobil Upstream Oil and Gas.
8:00 PM EST | May 06, 2020
Imperial Oil Plans Project Deferrals, Capex Cuts
Operating expenses will also be cut by $500 million compared to 2019 levels.
8:00 PM EST | March 31, 2020
Imperial Oil Hikes Dividend, Buyback After Profit Jump
Imperial Oil reports a 55% jump in quarterly profit, helped by strength in its refining and chemicals businesses.
8:00 PM EST | April 26, 2018
Canada's Imperial Oil Misses Profit Estimate As Expenses Weigh
Imperial Oil reports a lower-than-expected adjusted quarterly profit.
7:00 PM EST | February 01, 2018
Canada's Imperial Oil Posts Unexpected 2Q Loss
Imperial Oil reports an unexpected second-quarter loss due to planned and unplanned maintenance that curbed oil output.
8:00 PM EST | July 27, 2017
Imperial Oil Profit Boosted By Asset-Sale Gain
Imperial Oil reported a sharp rise in fourth-quarter profit.
7:00 PM EST | January 30, 2017
Bulk of Canada's Oil Sands Plants Seen Up in Days to Weeks
Canadian oil sands facilities representing more than 90 percent of production taken offline during a wildfire in northern Alberta have emerged unscathed and are expected to restart within days to a couple of weeks.
8:00 PM EST | May 10, 2016
Canada's Ever-Shrinking Oil Industry Braces for More Job Cuts
After almost two years of sinking oil prices and at least 40,000 job cuts, Canada's petroleum industry still isn't finished tackling its bloated operations.
8:00 PM EST | April 03, 2016
Imperial Oil Profit Misses Estimate as Plunging Crude Weighs
Canada's Imperial Oil reports a lower-than-expected quarterly profit, hurt by a prolonged slump in crude oil prices.
7:00 PM EST | February 01, 2016
Fight Or Flight: Canadian Oil Companies Weigh Hostile Takeover Bid
In an unusual hostile takeover attempt, Suncor Energy is making a last ditch effort to absorb its joint venture partner Canadian Oil Sands or move on.
7:00 PM EST | December 02, 2015
Imperial's New Projects Add 120,000 Bpd Of Crude So Far This Year
Imperial Oil adds 120,000 barrels per day of heavy crude supply from two new projects this year even as prices languish near 6-1/2 year lows.
8:00 PM EST | September 22, 2015
Canadian Oil Sands Halts Syncrude Production After Fire, Prices Spike
Canadian Oil Sands Ltd halts crude oil production after a fire damaged equipment at its processing facility in northern Alberta.
8:00 PM EST | August 30, 2015
Imperial Oil/Exxon/BP Group Defer Drilling In Canada's Arctic
Imperial Oil says it is deferring plans to drill an exploratory well in the Beaufort Sea in Canada's Arctic.
8:00 PM EST | June 25, 2015
Oil-Sands Megaproject Era Wanes as Suncor to Imperial Scale Down
Canadian oil-sands spending is poised to drop 30% to $19B this year while total oil production will be 17% lower by 2030 compared with last year's estimates.
8:00 PM EST | June 17, 2015
Imperial Oil's Kearl Oil Sands Expansion Project Begins Production
Imperial Oil begins production at its Kearl oil sands expansion project in Alberta, Canada.
8:00 PM EST | June 15, 2015
Imperial Oil 4Q Profit Falls, Kearl Expansion To Start Early
Imperial Oil's Kearl oil sands project expansion will start ahead of schedule, the company says, in the latest sign that weak crude prices are failing to dent oil sands growth.
7:00 PM EST | February 01, 2015
Imperial Oil Profit Dips As Kearl Output Disappoints
Imperial Oil's Kearl oil sands project in northern Alberta produced less than half its capacity in the fourth quarter, the company says.
7:00 PM EST | January 29, 2014
Conoco in $720M Oil Sands Deal With Exxon, Imperial
ConocoPhillips sells its stake in a Canadian oil sands project to ExxonMobil and Imperial Oil for $720 million.
8:00 PM EST | August 07, 2013
Imperial Oil Announces Start-Up At Kearl Oil Sands Project
Imperial Oil announces the start-up of the initial phase of its Kearl oil sands project, a project the Calgary energy company is counting on as key source of crude for more than 40 years.
8:00 PM EST | April 26, 2013
Imperial Oil Extends Canada Base with Celtic Exploration Acquisition
Imperial Oil announced it will participate as an owner with ExxonMobil Canada Ltd. in Celtic Exploration Ltd.
7:00 PM EST | November 27, 2012
Canada Oil Sands Producers to Share Environmental Technology
A dozen of the largest Canadian oil sands producers agree to share funding for environmental research, saying pooling their resources will speed the creation of new technologies to reduce the negative effects of oil-sands development.
7:00 PM EST | February 29, 2012
Imperial Oil Approves $2B Cold Lake Oil-Sands Expansion
Imperial Oil Ltd. said the $2B expansion of its big Cold Lake oil-sands operation will add more than 40,000 barrels of commercial bitumen production a day.
7:00 PM EST | February 02, 2012
Canada Releases Rules For Offshore Arctic Oil, Gas Drilling
Canada's national energy regulator released rules for offshore oil and gas drilling in the Arctic Ocean Thursday, clearing the way for energy companies to begin operations there if they meet safety requirements.
7:00 PM EST | December 14, 2011
CB&I Awarded EPC Contract for Kearl Oil Sands
CB&I has been awarded a contract by Imperial Oil for engineering, procurement and construction work on the Kearl oil sands project in Alberta.
8:00 PM EST | March 14, 2011
Oil Sands Companies Team Up in Tailings R&D Effort
Canadian Natural Resources, Imperial Oil, Shell Canada, Suncor Energy, Syncrude Canada Ltd., Teck Resources and Total E&P Canada announced Monday that they plan to work together in a unified effort to advance tailings management.
7:00 PM EST | December 13, 2010
BP, Exxon to Explore for O&G Offshore Arctic
BP, Exxon Mobil and Imperial Oil formed a joint venture to explore for oil and gas in Canada's Beaufort Sea.
8:00 PM EST | August 01, 2010
Imperial Oil Welcomes New Executive Appointment
Imperial Oil announced T.G. (Glenn) Scott will replace R.L. Broiles as senior vice-president.
8:00 PM EST | June 23, 2010
Imperial Oil Sees 65% Increase in 1Q
"Net income for the first quarter was $476 million, an increase of 65 percent from the first quarter of 2009. Upstream earnings increased with stronger crude oil commodity prices," said Bruce March.
8:00 PM EST | April 28, 2010
Imperial Oil Shuffles Executive Management
Imperial has appointed P.J. Masschelin, currently controller, ExxonMobil Refining & Supply and ExxonMobil Research & Engineering, to succeed Paul Smith as senior vice-president finance and administration and treasurer effective May 1, 2010.
7:00 PM EST | February 23, 2010
National Energy Board Reviews Drilling Policy for Beaufort Sea
The National Energy Board will hold a written hearing to review its policy on same season relief well capability for oil and gas drilling operations in the Beaufort Sea.
7:00 PM EST | February 07, 2010
Imperial Oil Posts Fourth Quarter Financial Results
"Despite the ongoing economic downturn, Imperial continued to progress our company growth projects and delivered strong results," said Imperial Oil CEO Bruce March.
7:00 PM EST | February 02, 2010
UTS Sells Oil Sands Assets to Imperial, ExxonMobil
UTS Energy is selling its 50% stake in three oil sands leases in northeastern Alberta to Imperial Oil and ExxonMobil in a deal valued at $231 million.
7:00 PM EST | November 02, 2009
Fluor to Collect $1.5B in 2009 from Kearl Oil Sands Gig
Fluor was awarded an engineering, procurement and construction contract for infrastructure and offlease facilities for the first phase of Imperial Oil's Kearl oil sands project.
8:00 PM EST | July 06, 2009
Imperial Oil Continues Existing Share Repurchase Program
Imperial Oil has received final acceptance from the Toronto Stock Exchange for a new normal course issuer bid to continue its existing share repurchase program facility that will expire on June 24, 2009.
8:00 PM EST | June 22, 2009
Enbridge to Develop Pipeline System for Kearl Oil Sands Project
Enbridge will provide for the transportation of blended bitumen from the Kearl project in the Athabasca Oil Sands region of northern Alberta to the Edmonton, Alberta area.
8:00 PM EST | June 21, 2009
Imperial Oil Seeks Approval to Continue Existing Share Repurchase Program
Imperial Oil will seek acceptance from the Toronto Stock Exchange to continue its existing share repurchase program facility that will expire on June 24, 2009.
8:00 PM EST | June 02, 2009
Imperial Oil Approves First Phase of Kearl Oil Sands Project
Imperial Oil has approved the first phase of the Kearl oil sands project, a surface mining operation northeast of Fort McMurray, Alberta.
8:00 PM EST | May 25, 2009
Inter Pipeline Inks Transportation Agreement for Kearl Oil Sands Project
Inter Pipeline signed a long term agreement with Imperial Oil to provide diluent transportation service for Imperial's Kearl oil sands project.
8:00 PM EST | May 25, 2009
Imperial Oil Reveals Q1 Financial, Operating Results
"Sharply lower oil and natural gas prices as a result of the global economic downturn produced lower earnings for the quarter, compared to the same period last year," said Bruce March, Imperial Oil's CEO.
8:00 PM EST | April 29, 2009
Oil Sands Cos Still Hesitate on Projects Despite Falling Costs
Costs in Canada's pricey oil sands are starting to fall but nervous developers are still leery of giving the green light to stalled projects.
8:00 PM EST | April 27, 2009
Imperial Oil's Proved Reserves Up Almost 50% on Oil Sands Booking
Imperial Oil noted that its total year-end proved reserves was more than 2.3 billion oil equivalent barrels, an increase of almost 50% from 2007.
7:00 PM EST | February 15, 2009
Imperial Oil Highlights Fourth Quarter Financial, Operating Results
Imperial Oil's total operating revenues were $5,913 million in the fourth quarter of 2008 and $31,240 million for the year versus $6,697 million and $25,069 million in the corresponding periods of 2007.
7:00 PM EST | January 28, 2009
Imperial Oil Taps AMEC for EPC Management at Kearl Oil Sands Project
AMEC has been selected by Imperial Oil as engineering, procurement and construction management contractor for its Kearl Oil Sands project in Alberta.
7:00 PM EST | January 13, 2009
Oil Sands on Front Line in Energy Sector's Battle with Costs
Mining bitumen and shipping it to refineries costs more than extracting hydrocarbons from more conventional fields, bumping up the oil sands' price threshold. Analysts estimate projects may need a long-term oil price of $100 a barrel or more.
8:00 PM EST | October 30, 2008
CAPP Honors 4 Canadian Companies with Steward of Excellence Awards
Devon Canada Corporation, Chevron Canada Resources, Petro-Canada and Imperial Oil Resources were honored during the Canadian Association of Petroleum Producers' (CAPP) seventh annual Steward of Excellence Awards Dinner.
8:00 PM EST | May 29, 2008
Mackenzie Gas Pipeline Faces New Delay on Deferred Review
The proposed start date for the C$16.2 billion Mackenzie gas pipeline could be delayed yet again, after a key regulatory review for the troubled project was pushed into next year.
8:00 PM EST | May 15, 2008
Imperial Oil Acquires Acreage in Horn River Area
In recent land sales, subsidiaries of Imperial Oil Limited (operator) and ExxonMobil Canada Limited have acquired exploration rights in the Horn River area of northeastern British Columbia.
8:00 PM EST | April 27, 2008
Shell Floats Newfoundland Farm-in Opportunity at Orphan Basin
Shell Canada Energy is seeking a qualified company to carry Shell's portion of the costs associated with drilling an exploration well in the Orphan Basin. The 2008 drilling is planned for EL-1077 and is the second exploration well in the basin.
7:00 PM EST | March 04, 2008