DOCSLIB.ORG

Cash Flow, Deliver Industry-Leading Returns Throughout the Cycle

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Cash Flow, Deliver Industry-Leading Returns Throughout the Cycle Imperial Investor Day November 7, 2018 Imperial │ 2018 │ 1 Opening Remarks Rich Kruger Chairman, President and Chief Executive Officer Imperial │ 2018 │ 2 Q3 recap Results consistent with expectations for strong second half performance 393,000 boepd $749 million Upstream production Net income 388,000 bpd $1.2 billion Refinery throughput Cash from operations 516,000 bpd $573 million Petroleum product sales Returned to shareholders Imperial │ 2018 │ 3 Global energy outlook Energy demand to increase 25% by 2040, oil and gas to remain key X Energy is required to power economic growth and improve standards of living X Demand increases driven by population growth and rising incomes X Increased energy use expected in wide range of sectors X World will need all practical and economic energy sources X Oil and natural gas will continue to meet 55-60% of total demand X Society faces a dual challenge with energy development X Technology is key to addressing the challenge Imperial │ 2018 │ 4 Source: ExxonMobil 2018 Outlook for Energy Global liquids outlook Oil to remain the world's largest energy source well into the future Demand mbd 120 X Growth driven by transportation, chemicals 100 New X Global resources sufficient to meet demand Production 80 Required X New supplies required from multiple regions 60 X 40 Major ongoing investments required 20 X Must be globally competitive for capital 0 2016 2040 Imperial │ 2018 │ 5 Source: ExxonMobil 2018 Outlook for Energy Canada’s opportunity Highest quality oil sands expected to be competitive on a global basis Breakeven Brent price $US/bbl 125 X 3rd largest liquid reserves globally 100 mining X Track record of innovation, responsible development 75 in situ X Historically conducive investment climate 50 X Canada-specific challenges must be addressed 25 X New technologies key to competitiveness 0 Brazil North Sea GOM West Africa Canada North oil sands America tight oil Source: 2016 IHS, Assumes a 10% internal rate of return Imperial │ 2018 │ 6 Imperial’s operations High quality, integrated, balanced, coast-to-coast asset portfolio Kearl mining F&L marketing Distribution network Syncrude mining Strathcona refinery Sarnia refinery Cold Lake in situ Sarnia chemical Rail terminal Nanticoke refinery Research ImperialImperial │ 20182018 │ 7 Business model Deliver superior, long-term shareholder value Long-life, competitively advantaged assets Disciplined investment and cost management Value chain integration and synergies High-impact technologies and innovation Operational excellence and responsible growth ExxonMobil relationship Imperial │ 2018 │ 8 Portfolio enhancement Focusing on highest value assets and competitive core competencies Acquired Startup of Startup of Cold Commissioned Startup of Rebranding Husky Rebranding 200+ Installing interest in first phase Lake Nabiye Edmonton rail second phase truck transport retail sites under supplemental Celtic assets at Kearl expansion terminal at Kearl sites to Esso Mobil brand crushers at Kearl 2013 2014 2015 2016 2017 2018 Closure of Sale of western Closure of Sale of Sale of general Dartmouth Canadian Sarnia lubes blending company-owned aviation refinery producing assets and packaging plants Esso retail sites business Imperial │ 2018 │ 9 Upstream assets Increasing concentration in long-life, high quality oil sands assets Production Kearl koebd Mining - PFT 71% interest 400 Total 300 Syncrude Kearl Mining - upgrader 25% interest 200 Syncrude 100 Cold Lake In situ – CSS/other Cold Lake 100% interest 0 1998 2008 2018 Gross production, IMO share Imperial │ 2018 │ 10 Downstream assets Leveraging operational excellence, scale and integration to capture value Volumes kbd Strathcona refinery 191 kbd capacity 500 Petroleum product sales 400 Sarnia refinery 119 kbd capacity 300 200 Refinery throughput Nanticoke refinery 113 kbd capacity 100 0 2008 2013 2018 Fuels marketing Coast-to-coast Includes Dartmouth Refinery, which closed in September 2013 product sales Imperial │ 2018 │ 11 Risk management Comprehensive management of full spectrum of enterprise risks Strategic Reputational Safety X Systematic approach in all areas X Fundamental line management responsibility Enterprise Financial and Health and Economic Risk Environment Management X Robust internal/external compliance processes X Integral to shareholder value Compliance Market and Regulatory Operational and Technical Imperial │ 2018 │ 12 Corporate responsibility Commitment to strong environmental, social and governance principles X ‘Taskforce on Climate-related Financial Disclosures’ guidelines X Reducing GHG intensity of existing and future operations X $2.4 billion spent with indigenous suppliers over last 10 years X Strong commitment to local communities X Diverse, independent Board of Directors Imperial │ 2018 │ 13 Safety and operational integrity Organization-wide priority to protect people, assets and the environment Total Recordable Incident Rate Average number of spills 0.5 25 20 0.4 5-yr average 0.3 2017 15 Upstream Downstream & other 0.2 10 0.1 5 0.0 0 Canadian peers Imperial 2008-12 2013-17 Q3'18 YTD Incidents per 200,000 hours worked Imperial │ 2018 │ 14 Integration Delivering value, competitive advantage and resiliency across the business cycle Equity crude placed in Upstream highest netback markets Oil & natural gas production Cost-advantaged feedstocks for refineries & chemical Highest value sales channels Downstream for petroleum products Refining & marketing products Multiple and optimized transportation networks Chemical Access to industry-leading Commodities & specialties technologies and know-how Imperial │ 2018 │ 15 Technology and innovation Unparalleled commitment and achievement throughout 138-year history Canada’s first Cyclic steam Steam-assisted gravity Solvent-assisted research department stimulation patent drainage patent technology pilots Imperial has invested more than $2.1B over the past 20 years First lube oil First horizontal Paraffinic froth New Upstream hydrofining well in Canada treatment patents research facility Access to $1 billion/yr in ExxonMobil R&D investments Imperial │ 2018 │ 16 Imperial’s winning formula Increase cash flow, deliver industry-leading returns throughout the cycle Deliver industry Leverage technology, Continue to achieve Be the most Aggressively capture leading performance integration and improvements in valued partner new opportunities in reliability, safety ExxonMobil to organizational with key and manage and operations differentiate versus efficiency & stakeholders existing portfolio integrity competition effectiveness within our industry to maximize value Imperial │ 2018 │ 17 Upstream Overview John Whelan Senior Vice President, Upstream Imperial │ 2018 │ 18 Upstream at a glance Large, long-life predominantly oil sands portfolio ~6.5 billion boe 2P reserves Norman Wells Cold Lake in situ Cold Lake ~400 Kearl mining without upgrader Kearl mining without Syncrude mining with upgrader koebd Unconventional Production Industry leading Next generation Oil sands Remaining in situ oil sands mining mining pioneer portfolio 2P reserves IMO share, before royalties Gross production estimate, IMO share Imperial │ 2018 │ 19 Upstream overview 30+ year proved reserve life, nearly $17B cash generated over last 10 years Production Annual cash from operations koebd $B 3 400 300 2 200 1 100 0 0 2011-14 2015-17 2018e 2011-14 2015-17 Q3`18 YTD $US/bbl WTI 95 48 67 Liquids Gas WCS 74 35 45 Proved reserve life based on 2017 production rates Gross production, IMO share Imperial │ 2018 │ 20 Syncrude Oil sands mining pioneer Mining with 25% IMO Producing upgrader owned since 1978 0.7B ~60 bbls kbd 2P reserves 2018 production outlook X High value synthetic crude oil X Improve reliability by eliminating major events X Capture regional integration opportunities X Fully leverage owner company strengths IMO share, before royalties Imperial │ 2018 │ 21 Syncrude reliability High-potential asset with priority on eliminating one-time events Production kbd X Production challenged 90 Ð Significant volume loss events Target production Ð Upgrader performance 60 X Reliability improvement essential Ð Mechanical integrity Ð Turnaround planning and execution 30 Ð Leadership and workforce X Best practice and resource sharing 0 2015 2016 2017 2018e Actual production Event impact X Achieve 90% upgrader utilization Gross production, IMO share Imperial │ 2018 │ 22 Syncrude collaboration Leverage owner strengths to accelerate performance improvement X Owner company expertise X Provision of business services X Collaborative ‘production forums’ X Regional logistics and infrastructure X Commercial opportunities Imperial │ 2018 │ 23 Kearl Next generation oil sands mining Mining without 71% IMO Producing upgrader owned since 2013 3.3B ~200 bbls kbd 2P reserves 2018 production outlook X Large, high quality resource X Improving performance X Near-term production growth 2P reserves IMO share, before royalties Gross production outlook, 100% interest Imperial │ 2018 │ 24 Kearl performance Focused on improving reliability, cost structure and realizations Production and unit cost kbd $US/bbl 300 40 X Leveraging full organizational capability 200 X Growing cash generation capacity 20 X Averaging $5/bbl CAD sustaining capex 100 X Targeting $20/bbl US cash opex ‘all-in’ 0 0 2017 2018e 2020 2022+ Q3 2018 unit cost Gross production, 100% interest Imperial │ 2018 │ 25 Kearl performance indicators Targeting best-in-class in all areas of operation Haul truck utilization, % Solvent loss, indexed 100 100 50 50
Load more

Recommended publications
  • Enbridge Profile
    Out on the Tar Sands Mainline Mapping Enbridge’s Web of Pipelines A Corporate Profile of Pipeline Company Enbridge By Richard Girard, Polaris Institute Research Coordinator with Contributions from Tanya Roberts Davis Out on the Tar Sands Mainline: Mapping Enbridge’s Dirty Web of Pipelines May 2010 (partially updated, March 2012). The Polaris Institute The Polaris Institute is a public interest research and advocacy organization based in Canada. Since 1999 Polaris has been dedicated to developing tools and strategies for civic action on major public policy issues, including energy security, water rights and free trade. Polaris Institute 180 Metcalf Street, Suite 500 Ottawa, ON K2P 1P5 Phone : 613-237-1717 Fax: 613-237-3359 Email: [email protected] www.polarisinstitute.org For more information on the Polaris Institute’s energy campaign please visit www.tarsandswatch.org Table of Contents Foreword ......................................................................................................................... iv Executive Summary ..........................................................................................................1 Introduction .......................................................................................................................3 1. Organizational Profile ...................................................................................................5 1.1 Enbridge’s Business Structure ....................................................................................5 1.1.1 Liquids
    [Show full text]
  • Sources of Propane Consumed in California
    ANL-20/73 Sources of Propane Consumed in California Energy Systems Division About Argonne National Laboratory Argonne is a U.S. Department of Energy laboratory managed by U Chicago Argonne, LLC under contract DE-AC02-06CH11357. The Laboratory’s main facility is outside Chicago, at 9700 South Cass Avenue, Argonne, Illinois 60439. For information about Argonne and its pioneering science and technology programs, see www.anl.gov. DOCUMENT AVAILABILITY Online Access: U.S. Department of Energy (DOE) reports produced after 1991 and a growing number of pre-1991 documents are available free at OSTI.GOV (http://www.osti.gov/), a service of the US Dept. of Energy’s Office of Scientific and Technical Information. Reports not in digital format may be purchased by the public from the National Technical Information Service (NTIS): U.S. Department of Commerce National Technical Information Service 5301 Shawnee Rd Alexandria, VA 22312 www.ntis.gov Phone: (800) 553-NTIS (6847) or (703) 605-6000 Fax: (703) 605-6900 Email: [email protected] Reports not in digital format are available to DOE and DOE contractors from the Office of Scientific and Technical Information (OSTI): U.S. Department of Energy Office of Scientific and Technical Information P. O. B o x 6 2 Oak Ridge, TN 37831-0062 www.osti.gov Phone: (865) 576-8401 Fax: (865) 576-5728 Email: [email protected] Disclaimer This report was prepared as an account of work sponsored by the Western Propane Gas Association. Neither the United States Government nor any agency thereof, nor U Chicago Argonne, LLC, nor any of their employees or officers, makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately owned rights.
    [Show full text]
  • Imperial Standard: Imperial Oil, Exxon, and the Canadian Oil Industry from 1880
    University of Calgary PRISM: University of Calgary's Digital Repository University of Calgary Press University of Calgary Press Open Access Books 2019-04 Imperial Standard: Imperial Oil, Exxon, and the Canadian Oil Industry from 1880 Taylor, Graham D. University of Calgary Press Taylor, G. D. (2019). Imperial Standard: Imperial Oil, Exxon, and the Canadian Oil Industry from 1880. "University of Calgary Press". http://hdl.handle.net/1880/110195 book https://creativecommons.org/licenses/by-nc-nd/4.0 Downloaded from PRISM: https://prism.ucalgary.ca IMPERIAL STANDARD: Imperial Oil, Exxon, and the Canadian Oil Industry from 1880 Graham D. Taylor ISBN 978-1-77385-036-8 THIS BOOK IS AN OPEN ACCESS E-BOOK. It is an electronic version of a book that can be purchased in physical form through any bookseller or on-line retailer, or from our distributors. Please support this open access publication by requesting that your university purchase a print copy of this book, or by purchasing a copy yourself. If you have any questions, please contact us at [email protected] Cover Art: The artwork on the cover of this book is not open access and falls under traditional copyright provisions; it cannot be reproduced in any way without written permission of the artists and their agents. The cover can be displayed as a complete cover image for the purposes of publicizing this work, but the artwork cannot be extracted from the context of the cover of this specific work without breaching the artist’s copyright. COPYRIGHT NOTICE: This open-access work is published under a Creative Commons licence.
    [Show full text]
  • RESPONSIBLE CARE® Verification Report Imperial Oil - Chemicals February 22 - 23, 2011 Disclaimer
    RESPONSIBLE CARE® Verification Report Imperial Oil - Chemicals February 22 - 23, 2011 Disclaimer This report has been produced by a team, convened by the Chemistry Industry Association of Canada (CIAC), to provide advice to the member-company and assist it in meeting its Responsible Care® commitments. The material in this report reflects the team's best judgment in light of the information available to it at the time of preparation. It is the responsibility of the CIAC member-company that is the subject of this report to interpret and act on the report’s findings and recommendations as it sees fit. Any use which a third party makes of this document, or any reliance on the document or decisions made based upon it, are the responsibility of such third parties. Although CIAC members are expected to share the results of this guidance document with interested parties, the Association, its member-companies, their employees, consultants and other participants involved in preparing the document accept no responsibility whatsoever for damages, if any, suffered by a third party as a result of decisions made or actions based on this report. Responsible Care® is a registered trademark of the Chemistry Industry Association of Canada. CONTENTS EXECUTIVE SUMMARY 3 Summary of Verification Team Observations 4 Findings Requiring Action 4 Improvement Opportunities 4 Successful Practices 6 1. Introduction 7 1.1 About Responsible Care Verification 7 1.2 About Imperial Oil Chemicals (IOC) 8 1.3 About This Verification 9 2. Team Observations Concerning the Responsible Care Commitments (Codes and benchmark and Collective Expectations) 11 2.1Team Observations Concerning Operations Code 12 2.2 Team Observations Concerning Stewardship Code 15 2.3 Team Observations Concerning Accountability Code 16 3.
    [Show full text]
  • 2004 Annual Report
    125 years of energy leadership 125Annual report to shareholders 2004 The importance of energy • Energy is essential for world economic and social development. • Hydrocarbons will remain a dominant source of the world’s energy for a long time to come. • Energy demand is rising worldwide, and new supplies of petroleum are required to meet this demand. • Canada is uniquely positioned to participate in this growing market. The International Energy Agency (IEA) has stated that oil and gas currently account for about 60 percent of all the energy consumed worldwide and, given the projected growth in demand, that is not expected to change significantly over the next few decades. World energy demand grows 1.7 percent a year millions of oil-equivalent barrels a day 350 Other* 300 250 Coal 200 Gas 150 100 Oil 50 0 1971 20022010 2020 2030 *Other energy sources include solar, wind, nuclear, hydro, biomass and waste Source: International Energy Agency Contents 2 Letter to shareholders 19 Financial section This report contains forward-looking information 4 Year in review 20 Management’s discussion and analysis on future production, project start-ups and future 6 Natural resources 32 Frequently used financial terms capital spending. Actual results could differ 10 Petroleum products 36 Management and auditors’ reports materially as a result of market conditions or 13 Chemicals 37 Financial statements, accounting policies and notes changes in law, government policy, operating conditions, costs, project schedules, operating 14 Principled people and practices 57 Natural resources segment – supplemental information performance, demand for oil and natural gas, 16 Caring for our communities 60 Share ownership, trading and performance commercial negotiations or other technical and 61 Quarterly financial and stock-trading data economic factors.
    [Show full text]
  • 2020 Corrective Action Baseline: 3,779 Facilities Sorted by Location (EPA Region, State, City) Last Updated September 30, 2017
    2020 Corrective Action Baseline: 3,779 facilities sorted by Location (EPA Region, State, City) Last Updated September 30, 2017. For addititonal information on Corrective Action Facilities, please visit our Cleanups in My Community page at: https://www.epa.gov/cleanups/cleanups-my-community Region EPAID Handler Name Address City State Zip Code CA725 CA750 CA550 CA900 Federal Facility 1 CTD001165224 BRONSON HOMER D CO MAIN ST BEACON FALLS CT 6403 1 CTD001168137 IDEAL PRODUCTS LLC 158 PINESBRIDGE ROAD BEACON FALLS CT 6403 YE YE YE 1 CTD052541695 CORBIN RUSSWIN INC 225 EPISCOPAL RD BERLIN CT 6037 YE YE 1 CTD001181205 VANDERBILT CHEMICALS LLC 31 TAYLOR AVE BETHEL CT 6801 YE YE YE 1 CTD001449602 SANDVIK WIRE AND HEATING TECH 119 WOOSTER ST BETHEL CT 6801 YE YE YE 1 CTD001144062 BIRKEN MANUFACTURING COMPANY 3 OLD WINDSOR ROAD BLOOMFIELD CT 06002-1397 YE YE 1 CTD001145671 BASS PLATING CO 82 OLD WINDSOR RD BLOOMFIELD CT 6002 YE YE 1 CTD001155225 KAMAN AEROSPACE CORP 50 OLD WINDSOR RD BLOOMFIELD CT 6002 YE YE YE 1 CTD980667927 SAFETY KLEEN SYSTEMS INC 11 TIPPING DR LOT 4 BRANFORD CT 6405 YE YE YE 1 CTD000638627 BRIDGEPORT HARBOR STATION 1 ATLANTIC ST BRIDGEPORT CT 6604 YE YE 1 CTD000651927 SEASIDE PARK LANDFILL SEASIDE PARK BARNUM BLVD BRIDGEPORT CT 6604 YE YE 1 CTD001174580 SPECIFICATIONS PLATING INC 740 SEAVIEW AVE BRIDGEPORT CT 6607 YE 1 CTD001180587 O & G INDUSTRIES INC 325 HANCOCK AVE BRIDGEPORT CT 6605 YE YE YE 1 CTD001183078 WESTINGHOUSE ELECTRIC CORP 1421 STATE STREET BRIDGEPORT CT 06605-2032 YE YE YE 1 CTD001449735 SIKORSKY AIRCRAFT CORP
    [Show full text]
  • Prospectus and Notice of Meeting
    ABN 17 096 090 158 Prospectus and Notice of Meeting An Entitlement Offer of approximately 22.9 million New Shares at $21.00 per share to raise approximately $480 million Financial Advisor and Lead Manager Table of contents Section 1 Details of the Entitlement Offer 17 Section 2 WorleyParsons’ existing business 23 Section 3 Colt 31 Section 4 Canadian hydrocarbons market 43 Section 5 Effect of the Acquisition and Entitlement Offer 49 Section 6 Independent Accountant’s Report 57 Section 7 Board of Directors and executive group 61 Section 8 Risk factors 67 Section 9 Additional information 73 Section 10 Notice of Meeting 93 Section 11 Glossary of terms 99 Appendix Terms of Special Voting Share 103 Important information This Prospectus and Notice of Meeting No representations other than in this Document This document (Document) comprises a prospectus No person is authorised to give any information or to make (Prospectus) and a notice of meeting (Notice of Meeting) any representation in connection with the Entitlement Offer both issued by WorleyParsons. The Prospectus is for the which is not contained in this Document. Any information or issue of New Shares under the Entitlement Offer and the representation not so contained may not be relied on as Notice of Meeting is for a meeting of Shareholders to having been authorised by WorleyParsons. consider and pass resolutions relating to the issue of the Document availability Special Voting Share and the maintenance of WorleyParsons’ A free paper copy of this Document is available to capacity to issue further capital. Qualifying Shareholders during the Entitlement Offer Period This Document is important and requires your immediate by calling the WorleyParsons Entitlement Offer InfoLine attention.
    [Show full text]
  • Business Update Presentation
    November 1 Business Update Cautionary statement Statements of future events or conditions in this report, including projections, targets, expectations, estimates, and business plans are forward-looking statements. Actual future financial and operating results, including demand growth and energy source mix; production growth and mix; project plans, dates, costs and capacities; production rates; production life and resource recoveries; cost savings; product sales; financing sources; and capital and environmental expenditures could differ materially depending on a number of factors, such as changes in the supply of and demand for crude oil, natural gas, and petroleum and petrochemical products and resulting price and margin impacts; limitations on transportation for accessing markets; political or regulatory events, including changes in law or government policy, applicable royalty rates and tax laws; the receipt, in a timely manner, of regulatory and third-party approvals; third party opposition to operations and projects; environmental risks inherent in oil and gas exploration and production activities; environmental regulation, including climate change and greenhouse gas restrictions; currency exchange rates; availability and allocation of capital; performance of third party service providers; unanticipated operational disruptions; management effectiveness; commercial negotiations; project management and schedules; response to unexpected technological developments; operational hazards and risks; disaster response preparedness; the ability to develop or acquire additional reserves; and other factors discussed in in Item 1A of Imperial Oil Limited’s Form 10-K for the year ended December 31, 2016 and in the management's discussion and analysis of financial condition and results of operations contained in Item 7. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Imperial Oil Limited.
    [Show full text]
  • Form 10-K Imperial Oil Limited
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year-ended December 31, 2013 Commission file number: 0-12014 IMPERIAL OIL LIMITED (Exact name of registrant as specified in its charter) CANADA 98-0017682 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 237 FOURTH AVENUE S.W., CALGARY, AB, CANADA T2P 3M9 (Address of principal executive offices) (Postal Code) Registrant’s telephone number, including area code: 1-800-567-3776 Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on Title of each class which registered None None Securities registered pursuant to Section 12(g) of the Act: Common Shares (without par value) (Title of Class) Indicate by check mark if the registrant is a well-known seasoned issuer (as defined in Rule 405 of the Securities Act). Yes No...... Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934. Yes ......No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No...... Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, every interactive data file required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
    [Show full text]
  • Investor Day Presentation
    Imperial Investor Day November 7, 2018 Imperial │ 2018 │ 1 Opening Remarks Rich Kruger Chairman, President and Chief Executive Officer Imperial │ 2018 │ 2 Q3 recap Results consistent with expectations for strong second half performance 393,000 boepd $749 million Upstream production Net income 388,000 bpd $1.2 billion Refinery throughput Cash from operations 516,000 bpd $573 million Petroleum product sales Returned to shareholders Imperial │ 2018 │ 3 Global energy outlook Energy demand to increase 25% by 2040, oil and gas to remain key Energy is required to power economic growth and improve standards of living Demand increases driven by population growth and rising incomes Increased energy use expected in wide range of sectors World will need all practical and economic energy sources Oil and natural gas will continue to meet 55-60% of total demand Society faces a dual challenge with energy development Technology is key to addressing the challenge Imperial │ 2018 │ 4 Source: ExxonMobil 2018 Outlook for Energy Global liquids outlook Oil to remain the world's largest energy source well into the future Demand mbd 120 Growth driven by transportation, chemicals 100 New Global resources sufficient to meet demand Production 80 Required New supplies required from multiple regions 60 40 Major ongoing investments required 20 Must be globally competitive for capital 0 2016 2040 Imperial │ 2018 │ 5 Source: ExxonMobil 2018 Outlook for Energy Canada’s opportunity Highest quality oil sands expected to be competitive on a global basis Breakeven
    [Show full text]
  • 12. Exxon and Imperial
    University of Calgary PRISM: University of Calgary's Digital Repository University of Calgary Press University of Calgary Press Open Access Books 2019-04 Imperial Standard: Imperial Oil, Exxon, and the Canadian Oil Industry from 1880 Taylor, Graham D. University of Calgary Press Taylor, G. D. (2019). Imperial Standard: Imperial Oil, Exxon, and the Canadian Oil Industry from 1880. "University of Calgary Press". http://hdl.handle.net/1880/110195 book https://creativecommons.org/licenses/by-nc-nd/4.0 Downloaded from PRISM: https://prism.ucalgary.ca IMPERIAL STANDARD: Imperial Oil, Exxon, and the Canadian Oil Industry from 1880 Graham D. Taylor ISBN 978-1-77385-036-8 THIS BOOK IS AN OPEN ACCESS E-BOOK. It is an electronic version of a book that can be purchased in physical form through any bookseller or on-line retailer, or from our distributors. Please support this open access publication by requesting that your university purchase a print copy of this book, or by purchasing a copy yourself. If you have any questions, please contact us at [email protected] Cover Art: The artwork on the cover of this book is not open access and falls under traditional copyright provisions; it cannot be reproduced in any way without written permission of the artists and their agents. The cover can be displayed as a complete cover image for the purposes of publicizing this work, but the artwork cannot be extracted from the context of the cover of this specific work without breaching the artist’s copyright. COPYRIGHT NOTICE: This open-access work is published under a Creative Commons licence.
    [Show full text]
  • Prof. Dr. J. Clifford Jones Oil Refining: the International Scene
    PROF. DR. J. CLIFFORD JONES OIL REFINING: THE INTERNATIONAL SCENE 2 Oil Refining: The International Scene 1st edition © 2019 Prof. Dr. J. Clifford Jones & bookboon.com ISBN 978-87-403-3003-8 Cover picture shows an oil refinery in Houston, Texas 3 OIL REFINING: THE INTERNATIONAL SCENE CONTENTS CONTENTS Foreword 8 1 Preambulary discussion 10 References 11 2 The EU and non-EU European countries 12 2.1 Country-by country coverage of the EU 12 2.2 Further comments on EU countries 34 2.3 European countries other than EU countries 35 References 37 3 The OPEC countries and former OPEC countries 46 3.1 Overview 46 3.2 Supplementary comments 64 3.3 Non-OPEC Middle East countries 64 References 66 Free eBook on Learning & Development By the Chief Learning Officer of McKinsey Download Now 4 OIL REFINING: THE INTERNATIONAL SCENE CONTENTS 4 The USA and Canada 75 4.1 Overview of the USA 75 4.2 Overview of Canada 103 4.3 Concluding remarks 106 References 107 5 Central America, South America and the Caribbean 118 5.1 Overview of Central America 118 5.2 Overview of South America 122 5.3 Overview of the Caribbean 129 5.4 Further comments 130 References 130 6 The Former Soviet Union 136 6.1 Overview by country 136 6.2 Further remarks 143 References 144 7 The Indian Subcontinent 146 7.1 Introduction 146 7.2 The Indian refineries classified by location 146 7.3 Pakistan 153 7.4 Bangladesh 154 7.5 Sri Lanka 154 7.6 Afghanistan 155 7.7 Further comments 155 References 156 8 Japan, South Korea and North Korea 158 8.1 Refineries in Japan 158 8.2 Refineries in South
    [Show full text]