Company: IMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000049938-25-000015
Chunk: 36

Company: IMPERIAL OIL LTD
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1
Chunk 36
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 oil required to supply refineries by contracted or common carrier pipelines.

Refining

The company owns and operates three refineries, which process predominantly Canadian crude oil. The company purchases finished products to supplement its refinery production. 

The approximate average daily volumes of refinery throughput and utilization during the three years ended December 31, 2024, and the daily rated capacities of the refineries as at December 31, 2024, were as follows. 

            Refinery throughput (a)Rated capacities (b)            Year ended December 31at December 31thousands of barrels per day2024 2023 2022 2024 Strathcona, Alberta187 186 195 197 Sarnia, Ontario110 110 113 124 Nanticoke, Ontario102 111 110 113 Total399 407 418 434 Utilization of refinery capacity (percent)92 94 98 (a)Refinery throughput is the volume of crude oil and feedstocks that is processed in the refinery atmospheric distillation units. (b)Refining capacity data is based on 100 percent of rated refinery process unit stream-day capacities to process inputs to atmospheric distillation units under normal operating conditions, less the impact of shutdowns for regular repair and maintenance activities, averaged over an extended period of time.2024 

Lower refinery throughput in 2024 reflected the impact of planned turnaround activities at Nanticoke, Sarnia and Strathcona refineries.

2023 

Lower refinery throughput in 2023 primarily reflected the impact of planned turnaround activities at Strathcona and Sarnia refineries.

Distribution

The company maintains a nationwide distribution system to move petroleum products to market by pipeline, tanker, rail and road transport. The company owns and operates fuel terminals across the country, as well as natural gas liquids and products pipelines in Alberta, Manitoba and Ontario and has interests in the capital stock of two products pipeline companies. 

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Marketing

The company markets petroleum products throughout Canada under well-known brand names, most notably Esso and Mobil, to all types of customers. 

The company supplies petroleum products through Esso and Mobil-branded sites and independent marketers. At the end of 2024, there were about 2,600 sites operating under a branded wholesaler model, in alignment with Esso and Mobil brand standards, whereby the company supplies fuel to independent third parties. 

The company also sells petroleum products, including fuel, asphalt and lubricants