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E-book Imperial Standard : Imperial Oil, Exxon, and the Canadian Oil Industry from 1880
For one hundred and thirty years, from its establishment in 1880 to 2010, Imperial Oil Company Ltd. was the largest petroleum company in Canada; in 2009, Suncor merged with Petro Canada and Imperial fell to second place. Even so, in 2018 Imperial remained among the top ten non-financial companies in Canada, ranked by revenues and assets. The third ranked company, Enbridge, had been a subsidiary of Imperial when it was the Interprovincial Pipeline Company.1During those years Imperial Oil was the largest company in terms of assets, revenues, and net earnings, towering over others in the Canadian oil and gas sector. In 1948, for example, even before the impact of the Leduc discovery took effect, Imperial’s sales revenue and net profits were twice the size of its two largest competitors, British-American Oil (later taken over by Gulf) and Texaco Canada (which Imperial acquired in 1991). Even in the 1990s, Imperial’s sales and assets were equal to those its two major rivals, Shell Canada and Petro Canada. Its share of the gasoline market in Canada fell from the 60 per cent position it held in the early 1950s, but it still accounted for one-third of that market.
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