[38][39]
Ownership of Imperial Oil, as well Standard Oil's other subsidaries outside the U.S., were all transferred to only one of those 34 successor firms, Jersey Standard (later renamed Exxon). [2] Imperial is also in a joint venture oil sands mining operation with ExxonMobil Corp., called Kearl Oil Sands.
Under the terms of the both royalty-based and profit sharing agreement, Canmex would commit to two three-year periods of comprehensive oil exploration in the Nugaal and Dharoor Valley blocks. [3] On account of the uncertain security situation in this part of the Nugaal block, Range Resources have as of 2011 given priority to drilling in the Dharoor Valley. [17] Imperial Oil's charter noted that its goal was to "find, produce, refine and distribute petroleum and its products throughout Canada." 1 on November 20, 1946. [22] Canadians called the product "skunk oil. p. 102-103. [40], In January 2020, Brad Corson, president of ExxonMobil Production Co. Upstream Ventures and a Vice President of Exxon Mobil Corp., was appointed Chief Executive of Imperial Oil.
[18] In 1883, the Victor works was struck by lightning and burned to the ground, and under Englehart's direction, the company concentered its refining efforts at Petrolia. [27] [28] 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 contacts with local companies. Content is available under CC BY-SA 3.0 unless otherwise noted. Imperial Oil has 1,700 service stations. As of 2016, it is the second largest oil change service provider in the United States with 10% market share and 1,050 locations. With ExxonMobil having majority ownership, Imperial Oil uses its parent company's brands, including the Esso and Mobil names for service stations, On the Run for convenience stores, and the Speedpass electronic payment system. [20] 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. Oil exploration in Puntland, an autonomous region in northeastern Somalia which is a federal state, began in the mid-2000s as a series of negotiations between the provincial administration and foreign oil companies. [35] Drilling began on the landmark discovery well Leduc No. [35], In 1989, Imperial Oil acquired Texaco's Canadian operations. Imperial Oil Limited (French: Compagnie Pétrolière Impériale Ltée) is a Canadian petroleum company. [1], The Puntland region in northeastern Somalia, in particular, came to be regarded as the geological analogue of Yemen since both areas once formed a single landmass around 18 million years ago, before the Gulf of Aden rifted and separated the Horn of Africa from the Arabian Peninsula. [30]This process added roughly five cents in shipping and handling charges to each gallon of imported oil. Somalia has untapped reserves of numerous natural resources, including uranium, iron ore, tin, gypsum, bauxite, copper, salt and natural gas. A 20-year period of exploitation would come into effect in the event of commercial oil yields, with an option to extend the duration an additional 5 years. CS1 maint: multiple names: authors list (, Learn how and when to remove this template message, "Brad Corson assumes the role of chairman, president and CEO of Imperial Oil Limited", "Ewart: Imperial Oil Faces Urban-Suburban Challenge", "Before Leduc and Some Musings on the Meaning of History", "Saturday Night Hockey / Hockey Night in Canada", "Hockey Night in Canada - The Television Years", "Imperial Oil sells Esso gas stations for $2.8-billion", "Esso moves on from Aeroplan, switches loyalty program to PC Optimum", "Loblaw sells chain of 213 gas stations to Brookfield for $540M", Accusations of ExxonMobil human rights violations in Indonesia, Exxon Corp. v Exxon Insurance Consultants International Ltd. People of the State of New York v. Exxon Mobil Corp. International Association of Oil & Gas Producers, https://en.wikipedia.org/w/index.php?title=Imperial_Oil&oldid=979740156, Companies listed on the Toronto Stock Exchange, Canadian subsidiaries of foreign companies, Articles needing additional references from February 2009, All articles needing additional references, Articles with self-published sources from July 2020, Official website different in Wikidata and Wikipedia, Creative Commons Attribution-ShareAlike License, This page was last edited on 22 September 2020, at 14:25. From the 1934-35 season through the 1975-76 season, Imperial Oil was a sponsor of the Canadian Broadcasting Corp. program Hockey Night in Canada for both radio and television broadcasts. The remaining gross income would be set aside for profit sharing, with 50% going to the Puntland government and 50% to the oil firms. [13][19], In 1884, Imperial Oil purchased the exclusive use of Herman Frasch's fractional distillation patent, which was more efficient at separating crude into usable products. [citation needed]The company has concessions with the Waha Oil Company in Libya. [11] Englehart was the driving force behind the partnership, hoping to emulate John D. Rockefeller and merge the entire Canadian oil industry into one conglomerate. Calgary's Glenbow Museum holds a large collection of Imperial Oil's film inventory.
[18] In a deliberate 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. Citgo Petroleum Corporation (or Citgo, stylized as CITGO) is a United States-based refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals and other industrial products.
[6], In 2012, the Puntland government gave the green light to the first official oil exploration project in Puntland and Somalia at large.
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