According to Reuters, Mr March said that Imperial’s refineries are well suited for the markets it plans to be in and the way forward to capacity expansion is by refinery expansion and not by building new grassroots refining facilities.
The news source also noted Imperial’s refining capacity to be about 514,000 barrels of oil per day. Its Esso-brand retail fuel outlets are reportedly Canada’s largest network of outlets.
Imperial Oil wants to concentrate on exporting larger volumes of gasoline and other petroleum products to the US, fueled by its Kearl oil sands mine in Canada, from which it expects to produce around 100,000 barrels of oil per day by 2011.
