Company: IMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000049938-25-000015
Chunk: 37

Company: IMPERIAL OIL LTD
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1
Chunk 37
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, to large industrial and transportation customers, independent marketers, resellers, as well as other refiners. The company serves agriculture, residential heating and commercial markets through branded fuel and lubricant resellers. 

The approximate daily volumes of net petroleum products (excluding purchases/sales contracts with the same counterparty) sold during the three years ended December 31, 2024, are set out in the following table. 

thousands of barrels per day2024 2023 2022 Gasolines223 228 229 Heating, diesel and jet fuels175 176 176 Lube oils and other products (a)46 43 47 Heavy fuel oils22 24 23 Net petroleum product sales466 471 475 (a)In 2024, benzene and aromatic solvent sales are reported under Petroleum product sales - Lube oils and other products, whereas in 2023, they were reported under Petrochemical sales. The company has determined that the impact of this change is not material; therefore, the comparative periods have not been recast.

Chemical

The company’s Chemical operations manufacture and market aliphatic solvents, plasticizer intermediates, polyethylene resin, and markets refinery grade propylene. Its petrochemical and polyethylene manufacturing operations are located in Sarnia, Ontario, adjacent to the company’s petroleum refinery. 

The company’s total petrochemical sales volumes during the three years ended December 31, 2024, were as follows. 

thousands of tonnes2024 2023 2022 Total petrochemical sales (a)684 820 842 (a)In 2024, benzene and aromatic solvent sales are reported under Petroleum product sales - Lube oils and other products, whereas in 2023, they were reported under Petrochemical sales. The company has determined that the impact of this change is not material; therefore, the comparative periods have not been recast.

In 2024, sales volumes decreased primarily due to the reclassification of benzene and aromatic solvent sales.

In 2023, sales volumes decreased primarily due to planned maintenance activities.  

17

Delivery commitments

The company has no material commitments to provide a fixed and determinable quantity of oil or gas under existing contracts and agreements. 

Human capital resources

Imperial operates in a complex, competitive and changing business environment where decisions and risks play out over time horizons that are often decades in length. This long-term orientation underpins the company’s philosophy