Company: IMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000049938-25-000015
Chunk: 197

Company: IMPERIAL OIL LTD
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 197
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AGD redevelopment project. The project is expected to start up in late 2025 with peak production anticipated to be around 9,000 barrels per day.•Produced 75,000 gross oil-equivalent barrels per day of full-year production at Syncrude.•Commenced construction of the Enhanced Bitumen Recovery Technology (EBRT) pilot on Imperial's Aspen lease with pilot start-up anticipated by 2027.Downstream and Chemical operations performance•Achieved average throughput of 399,000 barrels per day with refinery capacity utilization of 92 percent while completing significant turnaround activity. •Executed turnaround activities at all three refineries ahead of plan and below budget, including Nanticoke's most successful large turnaround event in decades.•Added additional operational flexibility to co-process plant based feedstocks at the Strathcona refinery.•Construction continued on Canada’s largest renewable diesel facility at the Strathcona refinery.•Successfully completed proactive replacement of a section from the Winnipeg Products Pipeline, restoring pipeline fuel supply in the region.•Further developed network of renewable diesel blending and offloading distribution terminals, expanding our capability to supply lower emission fuel options to our customers.•Grew branded retail network to 2,600 sites.•Sustained number one retail market share in Canada2. •Reliable operational performance supported Chemicals net income of $171 million.

 1 Non-GAAP financial measure – see definitions and frequently used terms on page 172. 

 2 Based on Kalibrate survey data for Q4 2024.

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Performance graph

The following graph shows changes over the past 5 years in the value of $100 invested in (i) Imperial Oil Limited common shares, (ii) the S&P/TSX Composite Index, and (iii) the S&P/TSX Composite Energy Index. The S&P/TSX Composite Energy Index is currently comprised of share performance data for 43 oil and gas companies including integrated oil companies, oil and gas producers, and oil and gas service companies. 

The year-end values in the graph represent appreciation in share price and the value of dividends executed and reinvested. The calculations exclude trading commissions and taxes. Total shareholder returns1 from each investment, whether measured in dollars or percent, can be calculated from the year-end investment values shown beneath the graph. 

During the past 5 years, the company’s cumulative total shareholder return1 was 197 percent, for an average annual return of 24 percent. Total direct compensation1 for named executive officers generally reflects the trend in total shareholder returns as the