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Imperial Oil

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{{#invoke:Infobox|infobox}}Template:Template otherTemplate:Main other{{#invoke:Check for clobbered parameters|check|nested=1|template=Infobox company|cat=Template:Main other|name; company_name|logo; company_logo|logo_alt; alt|trade_name; trading_name|former_names; former_name|type; company_type|predecessors; predecessor|successors; successor|foundation; founded|founders; founder|defunct; dissolved|hq_location; location|hq_location_city; location_city|hq_location_country; location_country|num_locations; locations|areas_served; area_served|net_income; profit|net_income_year; profit_year|owners; owner |homepage; website }}{{#invoke:Check for unknown parameters|check|unknown=Template:Main other|preview=Page using Template:Infobox company with unknown parameter "_VALUE_" | ignoreblank=y | alt | area_served | areas_served | assets | assets_year | aum | brands | company_logo | company_name | company_type | defunct | dissolved | divisions | embed | equity | equity_year | fate | footnotes | former_name | former_names | foundation | founded | founder | founders | genre | homepage | hq_location | hq_location_city | hq_location_country | incorporated | image | image_alt | image_caption | image_size | image_upright | income_year | industry | ISIN | key_people | location | location_city | location_country | locations | logo | logo_alt | logo_caption | logo_class | logo_size | logo_upright | members | members_year | module | name | native_name | native_name_lang | net_income | net_income_year | num_employees | num_employees_year | num_locations | num_locations_year | operating_income | owner | owners | parent | predecessor | predecessors | production | production_year | products | profit | profit_year | rating | ratio | revenue | revenue_year | romanized_name | services | subsid | successor | successors | traded_as | trade_name | trading_name | type | website| qid | fetchwikidata | suppressfields | noicon | nocat | demo | categories }} Imperial Oil Limited (Template:Langx) is a Canadian petroleum company.<ref name="Imperial Oil 2012 Annual Report" /> It is Canada's second-largest integrated oil company. It is majority-owned by American oil company ExxonMobil, with a 69.6% ownership stake in the company.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> It is a producer of crude oil, diluted bitumen, and natural gas. Imperial Oil is one of Canada's major petroleum refiners and petrochemical producers.<ref name="Imperial Oil 2012 Annual Report" /> It supplies Esso-brand service stations.<ref name="Imperial Oil 2012 Annual Report" /><ref name="Imperial Oil Operates Tiger Express-Brand Convenience Stores" />

Imperial owns 25% of Syncrude, which is one of the world's largest oil sands operations.<ref name="Imperial Oil 2012 Annual Report" /> It also has holdings in the Alberta Oil Sands, and operates the Kearl Oil Sands mining operation with ExxonMobil.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="Imperial operations" />

Imperial Oil is headquartered in Calgary, Alberta. It was based in Toronto, Ontario, until 2005.<ref name="Imperial Oil 2012 Annual Report" /><ref name="Imperial Oil Moved Headquarters from Toronto to Calgary in 2005" /> Most of Imperial's production is from its natural resource holdings in the Alberta oil sands<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>Template:Self-published inline and the Norman Wells oil field in the Northwest Territories.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Imperial Oil was ranked 34th in the Arctic Environmental Responsibility Index (AERI) for 2021 out of 120 mining, oil, and gas corporations that extract resources north of the Arctic Circle.<ref>Overland, I., Bourmistrov, A., Dale, B., Irlbacher‐Fox, S., Juraev, J., Podgaiskii, E., Stammler, F., Tsani, S., Vakulchuk, R. and Wilson, E.C. 2021. The Arctic Environmental Responsibility Index: A method to rank heterogenous extractive industry companies for governance purposes. Business Strategy and the Environment. 30, 1623–1643. https://onlinelibrary.wiley.com/doi/10.1002/bse.2698</ref>

HistoryEdit

Founding and early yearsEdit

In April 1880, Jacob Lewis Englehart and 16 prominent oil refiners in London, Ontario, and Petrolia, Ontario, formed Imperial Oil in response to Standard Oil's growing dominance of the oil market.<ref>Template:Cite book</ref> Englehart aimed to emulate John D. Rockefeller and merge the entire Canadian oil industry into one conglomerate.<ref>Template:Cite book</ref> Although the majority of Ontario's top oil producers agreed to join in the enterprise, exceptions included John Henry Fairbank, who was then Canada's largest oil producer, and James Miller Williams, founder of the Canadian Oil Company.<ref name=":0">Template:Cite book</ref> Englehart and the refiners established Imperial Oil as a joint-stock company with a capitalized value of $500,000.<ref>Template:Cite book</ref> In addition to Englehart, the original shareholders included Frederick A. Fitzgerald, Isaac and Herman Waterman, William Spencer and his sons William and Charles, Thomas and Edward Hodgins, John Geary, Joseph Fallows, John Minhinnick, William English and John Walker.<ref>Template:Cite book</ref> Together, the shareholders possessed twelve oil refineries and controlled 85% of the refining capacity in Canada.<ref>Template:Cite book</ref> Fitzgerald and Englehart were the two largest stakeholders in the company and were named the president and vice president, respectively.<ref>Template:Cite book</ref> Imperial Oil's charter noted that its goal was to "find, produce, refine and distribute petroleum and its products throughout Canada."<ref name=":0" />

Despite its early successes, Imperial Oil struggled to make a profit and issue dividends in the early 1880s.<ref name=":1">Template:Cite book</ref> The discovery of new oil fields in Pennsylvania and New York drove down the price of oil, and the creation of the Standard Oil Trust resulted in an increase of American oil imports into Canada.<ref name=":1" /> In a move to boost kerosene prices, Imperial closed down ten of the twelve refineries it had acquired through the merger, leaving only the Silver Star refinery in Petrolia and the Victor works in London.<ref name=":1" /> In 1883, the Victor works was struck by lightning and burned to the ground, and under Englehart's direction, the company concentrated its refining efforts at Petrolia.<ref name=":0" /><ref>Template:Cite book</ref>

Herman Frasch and the sulphur dilemmaEdit

In 1884, Imperial Oil purchased the exclusive use of Herman Frasch's fractional distillation patent, which was more efficient at separating crude oil into usable products.<ref name=":3" /> Imperial initially offered Frasch $10,000 and Imperial Oil stock, but he persuaded the company to offer him a salary that matched Fitzgerald's and a seat on the Board of Directors.<ref name=":3">Template:Cite book</ref> Frasch had taken the position primarily to supervise the installation of his refining method at the Silver Star refinery and resigned in February 1885 once the work was complete.<ref>Sutton, William. (1984) Herman Frasch (PhD Thesis). Louisiana State University. p. 80.</ref> Frasch then joined John Minhinnick in forming a separate venture called the Empire Oil Company.<ref name=":3" /> The pair purchased an idle refinery in London, and Frasch began experimenting on a way to remove the sulphur content in the oil pumped at Lambton County.<ref name=":3" /> The high sulphur content in Canadian oil placed it at a disadvantage compared to the oil mined at Pennsylvania due to its "distinctive odour" when burned.<ref name=":7">Sutton, William. (1984) Herman Frasch (PhD Thesis). Louisiana State University. p. 82.</ref> Canadians called the product "skunk oil".<ref name=":7" /> Between 1885 and 1887, Frasch discovered that mixing copper oxide with the oil during the distilling process would remove the sulphur content and odour from the refined product.<ref>Hill, Alan. (1979) Historical Foundation of Canada's Oil Industry and the Development of Imperial Oil Limited from 1880-1920. (Master’s Thesis).University of Manitoba. p.102.</ref>

By this time, Standard Oil had also become interested in the desulphurization process after moving production to oil fields in Ohio that had a similar sulphur content to Lambton County.<ref name=":4">Template:Cite book</ref> In 1886, Standard Oil persuaded Frasch to return to the United States and join their company by offering "a salary higher than that of any other scientist in the country" and an exchange of his shares in the Empire Oil Company for an equivalent amount in Standard Oil.<ref name=":4" /> After returning to the United States, Frasch perfected his desulphurization strategy, and Standard Oil held a monopoly on the process until 1905.<ref>Hill, Alan. (1979) Historical Foundation of Canada's Oil Industry and the Development of Imperial Oil Limited from 1880–1920 (Master’s Thesis). The University of Manitoba. p. 102-103</ref>

The 1890s and the Standard Oil buyoutEdit

File:Imperial oil building 1917.png
The Imperial Oil Building at 56 Church Street in Toronto was the company's headquarters from 1917 to 1957. It was designed by Clinton and Russell of New York and demolished in 1969.

Despite rising revenue and growth in the 1890s, Imperial Oil faced continuing challenges in its markets, primarily from Standard Oil, which operated a series of subsidiary companies across Canada.<ref>Template:Cite book</ref><ref>Template:Cite book</ref> Although Imperial dominated the Western Canadian market, the company could not establish a strong foothold in the Maritimes or Quebec as Standard supplied these regions through long-term contracts with local companies.<ref>Template:Cite book</ref> While the Conservative Party's National Policy had stopped Standard Oil from fully entering the Canadian market, the economic policy came under attack by Standard Oil lobbyists and Canadian consumers, who asked for a cheaper and higher quality product.<ref name=":5">Template:Cite book</ref><ref name=":6">Template:Cite book</ref> In 1893, Ottawa reduced import duties on refined oil products from 7.2 cents to 6 cents per wine gallon, and in 1896, Wilfrid Laurier's government reduced the tariff again to 5 cents.<ref name=":5" /> Additionally, Laurier removed restrictions on tank cars and tank steamers, allowing foreign companies to bulk ship oil into Canada by rail or sea.<ref name=":5" /> Before, foreign companies had to repackage their product into oil barrels before entering Canada, adding roughly five cents in shipping and handling charges to each gallon of imported oil.<ref name=":5" /><ref name=":6" />

In 1895, Imperial Oil's Board of Directors began negotiations to sell the company to the Colonial Development Corporation, a British company.<ref name=":2">Template:Cite book</ref> After three years, the deal collapsed, and the Board of Directors instead chose to sell the company to Standard Oil.<ref name=":2" /> The agreement specified that Standard Oil would acquire 75% of Imperial Oil's shares, Imperial Oil would acquire all of Standard Oil's Canadian subsidiary companies, Imperial's capitalization would be increased to $1 million, and Imperial shareholders would receive a dividend of $93,000.<ref name=":2" /><ref>Template:Cite book</ref> Following the deal, Imperial Oil shut down the Silver Star refinery in Petrolia and moved its refining operations to Sarnia, Ontario.<ref name=":2" />

Later yearsEdit

File:Imperial Oil Building.JPG
From 1957 to 2004, the company was headquartered in the Imperial Oil Building, designed by Mathers & Haldenby. The design was a failed entry in the competition for a new Toronto City Hall.

In a landmark 1911 anti-trust case, the U.S. Supreme Court ordered Standard Oil to break up into 34 separate companies. Ownership of Imperial Oil, as well Standard Oil's other subsidiaries outside the U.S., were all transferred to only one of those 34 successor firms, Jersey Standard (later renamed Exxon).<ref>Template:Cite book</ref>

Imperial Oil discovered the Leduc Woodbend Devonian oil reef in 1947, marking the beginning of the contemporary period in Canadian oil and gas development.<ref name="The History of Imperial Oil (Item 1)" /> Drilling began on the landmark discovery well Leduc No. 1 on November 20, 1946.<ref name="The History of Imperial Oil (Item 1)" />

In 1989, Imperial Oil acquired Texaco's Canadian operations.<ref name="Imperial Oil Acquires Texaco Canada" />

When Exxon and Mobil merged in 1999 to form ExxonMobil, the combined company continued to maintain Mobil's Canadian operations as a separate subsidiary, independent of Imperial Oil.<ref>Template:Cite book</ref>

Film and televisionEdit

From the 1934-35 season through the 1975-76 season, Imperial Oil was a sponsor of the CBC Television program Hockey Night in Canada for both radio and television broadcasts.<ref name="History of Imperial Oil and Hockey Night in Canada (Part 1)" /><ref name="History of Imperial Oil and Hockey Night in Canada (Part 2)" /> Esso, which had three stars on their signs, sponsored Hockey Night in Canada's three stars of the game.

In the same era, the company was also involved in film production, providing funding for independent documentary films. Glenbow Museum in Calgary holds a large collection of Imperial Oil's film inventory.<ref>"Imperial Oil - Film Collection " Template:Webarchive. Glenbow Museum.</ref>

LeadershipEdit

PresidentEdit

  1. Frederick Ardiel Fitzgerald, 1880–1889
  2. Frank Quarles Barstow, 1889–1908
  3. Horace Chamberlain, 1908–1911
  4. Walter Clark Teagle, 1914–1918
  5. William John Hanna, 1918–1919
  6. Charles Orrin Stillman Jr., 1919–1933
  7. Gilead Harrison Smith, 1933–1944
  8. Richard Vryling LeSueur, 1944–1945
  9. Henry Hugo Hewetson, 1945–1949
  10. George Lawrence Stewart, 1949–1953
  11. John Rigsby White, 1953–1960
  12. William Osborn Twaits, 1960–1970
  13. John Archibald Armstrong, 1970–1974
  14. Richard Gavin Reid Jr., 22 April 1974 – 21 July 1975
  15. John Archibald Armstrong, 21 July 1975 – 1979
  16. James George Livingstone, 1979 – 31 September 1982
  17. Arden Ramon Haynes, 1 October 1982– 21 April 1988
  18. Robert Byron Peterson, 21 April 1988 – 31 August 1992
  19. Ronald Alvin Brenneman, 1 September 1992 – 1994
  20. Robert Byron Peterson, 1994 – 31 December 2000
  21. Timothy James Hearn, 1 January 2001– 31 December 2007
  22. Bruce Harold March, 1 January 2008 – 28 February 2013
  23. Richard Michael Kruger, 1 March 2013 – 17 September 2019
  24. Bradley William Corson, 17 September 2019 – 31 March 2025
  25. John Ronald Whelan, 1 April 2025 – present

Chairman of the BoardEdit

  1. Frederick Ardiel Fitzgerald, 1889–1905
  2. Gilead Harrison Smith, 1944–1945
  3. Richard Vryling LeSueur, 1945
  4. Frank Willis Pierce, 1945–1947
  5. George Lawrence Stewart, 1947–1949
  6. Henry Hugo Hewetson, 1949–1950
  7. George Lawrence Stewart, 1953–1955
  8. John Rigsby White, 1960
  9. William Osborn Twaits, 1970 – 22 April 1974
  10. John Archibald Armstrong, 22 April 1974 – 30 June 1981
  11. Donald Kenneth McIvor, 1 July 1981 – 23 April 1985
  12. Arden Ramon Haynes, 23 April 1985 – 31 August 1992
  13. Robert Byron Peterson, 1 September 1992 – 23 April 2002
  14. Timothy James Hearn, 23 April 2002– 31 March 2008
  15. Bruce Harold March, 1 April 2008 – 28 February 2013
  16. Richard Michael Kruger, 1 March 2013 – 31 December 2019
  17. Bradley William Corson, 1 January 2020 – 8 May 2025
  18. John Ronald Whelan, 8 May 2025 – present

RetailEdit

File:Esso Kanata.jpg
An Esso-branded service station, with On the Run convenience store, in Ottawa, April 2006

Imperial Oil supplied more than 2,000 service stations as of October 2020,<ref>Imperial Pil corporate website, accessed 14 Oct 2020</ref> all of which were owned by third parties. It sold its remaining 497 stations in 2016 to retailers such as Alimentation Couche-Tard (mostly Ontario and Quebec), 7-Eleven (mostly Alberta and British Columbia), Parkland, Harnois (Quebec) and Wilson Fuel (Atlantic Canada).<ref>Template:Cite news</ref> In the late early 1990s Imperial Oil had acquired retail operations from Texaco's Canadian unit Texaco Canada Incorporated.

With ExxonMobil having majority ownership, Imperial Oil licences its parent company's brands, including the Esso and Mobil names for service stations, and the Speedpass electronic payment system.

Until 2018, Imperial Oil was a member of the rewards program Aeroplan. On March 13, 2018, Loblaw Companies announced that it had reached a deal for the Esso-branded stations to join the PC Optimum rewards program, beginning on June 1, 2018.<ref>Template:Cite news</ref> Loblaw Companies had sold its network of 213 gas stations (all of which are attached to its various grocery store locations) to Brookfield Business Partners in 2017; Brookfield entered into an agreement with Imperial Oil to use the Mobil brand for these stations. As part of the sale agreement, these stations also continue to participate in PC Optimum.<ref>Template:Cite news</ref>

See alsoEdit

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ReferencesEdit

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External linksEdit

Template:ExxonMobil Template:S&P/TSX 60 Template:Petroleum industry Template:Hockey Night in Canada Template:Authority control

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