Imperial Oil Ltd - Stock Certificate - SOLDInv# OS1037 Stock
Imperial Oil Limited (French: Compagnie Pétrolière Impériale Ltée) is a Canadian petroleum company. It is Canada's second-biggest integrated oil company. Exxon Mobil Corp. has a 69.6 percent ownership stake in the company. It is a significant producer of crude oil, diluted bitumen and natural gas, Canada’s major petroleum refiner, a key petrochemical producer and a national marketer with coast-to-coast supply and retail networks. Its retail operations include Esso-brand service stations and On the Run/Marché Express and Tiger Express-brand convenience stores.
It is also known for its holdings in the Alberta Oil Sands. Imperial owns 25 percent of Syncrude, which is one of the world’s largest oil sands operations. Imperial is also in a joint venture oil sands mining operation with ExxonMobil Corp., called Kearl Oil Sands.
Imperial Oil is headquartered in Calgary, Alberta. It was based in Toronto, Ontario, until 2005. Most of Imperial's production is from its vast natural resource holdings in the Alberta oil sands and the Norman Wells oil field in the Northwest Territories.
The company was incorporated in London, Ontario, in 1880 (Filey 1998:62). The company's association with ExxonMobil dates back to 1898 when the then-Standard Oil of New Jersey acquired a controlling stake in Imperial Oil.
Imperial Oil discovered the Leduc Woodbend Devonian oil reef in 1947, marking the beginning of the contemporary period in Canadian oil and gas development. Drilling began on the landmark discovery well Leduc No. 1 on November 20, 1946.
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. Esso had three stars on their signs and leveraged it by sponsoring Hockey Night in Canada's three stars of the game.
In the same era, the company was also involved in film production, frequently providing funding support for the production of independent documentary films. Calgary's Glenbow Museum holds a large collection of Imperial Oil's film inventory.
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. His predecessor, Rich Kruger, announced his plans to retire at the end of December, 2019.
Besides Brad Corson, other members of the board of directors of Imperial Oil are Krystyna Hoeg, Jack Mintz, David Sutherland, Dave Brownell, David Cornhill and Miranda Hubbs.
Imperial Oil has 1,700 service stations. The majority are owned by third parties. It sold 497 stations in 2016 to retailers such as Alimentation Couche-Tard Inc. (mostly Ontario and Quebec), 7-Eleven Canada Inc. (mostly Alberta and British Columbia), Parkland Fuel Corp., Harnois Groupe pétrolier and Wilson Fuel Co. Ltd. In the late early 1990s Imperial Oil acquired retail operations from Texaco's Canadian unit Texaco Canada Incorporated.
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.
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. Loblaw Companies had previously 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.
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.