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Released December 20, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Imperial Oil Limited (Calgary, Alberta) said this week it plans to spend C$1.7 billion (US$1.2 billion) on its 2024 capital program, which includes wrapping up construction of a renewable diesel complex at its Strathcona Refinery in Alberta, and another upstream project.
Imperial Oil is majority owned by Exxon Mobil Corporation (NYSE:XOM) (Spring, Texas).
Imperial's US$500 million renewable diesel add-on, which will be Canada's largest renewable diesel facility, began site preparation in early 2023, with production expected to begin in early 2025. The new complex at the 187,000-barrel-per-day (BBL/d) Strathcona Refinery is expected to produce 20,000 BBL/d of renewable diesel via a mixture of low-carbon hydrogen and plant-based feedstocks. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refining Project Database can click here for a detailed project report.
The company has an agreement in place with Air Products and Chemicals Incorporated (NYSE:APD) (Lehigh Valley, Pennsylvania) to supply the refinery with the necessary hydrogen for renewable diesel production. Air Products will provide 50% of the output from a new hydrogen complex in Edmonton. For more information, see September 7, 2022, article - Imperial to Use Air Products' Hydrogen for Renewable Diesel.
Imperial is planning a turnaround at Strathcona for 2024, including work "to enable the co-processing of vegetable oils alongside conventional feedstock at Strathcona," the company said in a press release announcing its upcoming capital program. Subscribers can click here to read a related project report.
"Imperial remains committed to supplying secure, reliable and affordable energy to Canadians in an environmentally responsible manner, including reducing emissions through deployment of large-scale solutions such as carbon capture and storage," the company said.
One such effort Imperial is involved in is the Pathways Alliance, a coalition of six of Canada's largest oil sands companies aimed at reaching net-zero emissions from operations by 2050. Related work will be completed in several phases, which involves a CCS hub in Cold Lake, Alberta and an associated CO2 pipeline network with multiple pump stations and connections to about 40-50 operations producing bitumen. According to a recent update on the project, the first phase calls for a US$24 billion investment before 2030, and about US$16.5 billion will support the proposed CCS network. Regulatory applications for the transportation network and storage hub are expected to be filed in late 2023 or early 2024.
Subscribers to the GMI Oil & Gas Pipelines Project Database can click here to read a related project report.
The other companies in the Pathways Alliance are Canadian Natural Resources Limited (NYSE:CNQ) (Calgary, Alberta), Cenovus Energy Incorporated (NYSE:CVE) (Calgary), Suncor Energy Incorporated (NYSE:SU) (Calgary), the Canadian division of ConocoPhillips (NYSE:COP) (Houston, Texas), and MEG Energy Corporation (Calgary, Alberta).
Overall, Imperial plans to invest US$17 billion in lower-emissions initiatives through 2027.
Also part of Imperial's 2024 capital program is a US$750 million infrastructure project at the Kearl aboveground oil sands mine in Fort McKay, Alberta, which will transition the surface tailing pond to an in-pit tailings pond. Subscribers to the Metals & Minerals Project Database can read a detailed project report. Kearl is jointly owned by Imperial (70.96%) and ExxonMobil Canada (29.04%).
Subscribers can click here for a list of all projects mentioned in this article and click here for related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Imperial Oil is majority owned by Exxon Mobil Corporation (NYSE:XOM) (Spring, Texas).
Imperial's US$500 million renewable diesel add-on, which will be Canada's largest renewable diesel facility, began site preparation in early 2023, with production expected to begin in early 2025. The new complex at the 187,000-barrel-per-day (BBL/d) Strathcona Refinery is expected to produce 20,000 BBL/d of renewable diesel via a mixture of low-carbon hydrogen and plant-based feedstocks. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refining Project Database can click here for a detailed project report.
The company has an agreement in place with Air Products and Chemicals Incorporated (NYSE:APD) (Lehigh Valley, Pennsylvania) to supply the refinery with the necessary hydrogen for renewable diesel production. Air Products will provide 50% of the output from a new hydrogen complex in Edmonton. For more information, see September 7, 2022, article - Imperial to Use Air Products' Hydrogen for Renewable Diesel.
Imperial is planning a turnaround at Strathcona for 2024, including work "to enable the co-processing of vegetable oils alongside conventional feedstock at Strathcona," the company said in a press release announcing its upcoming capital program. Subscribers can click here to read a related project report.
"Imperial remains committed to supplying secure, reliable and affordable energy to Canadians in an environmentally responsible manner, including reducing emissions through deployment of large-scale solutions such as carbon capture and storage," the company said.
One such effort Imperial is involved in is the Pathways Alliance, a coalition of six of Canada's largest oil sands companies aimed at reaching net-zero emissions from operations by 2050. Related work will be completed in several phases, which involves a CCS hub in Cold Lake, Alberta and an associated CO2 pipeline network with multiple pump stations and connections to about 40-50 operations producing bitumen. According to a recent update on the project, the first phase calls for a US$24 billion investment before 2030, and about US$16.5 billion will support the proposed CCS network. Regulatory applications for the transportation network and storage hub are expected to be filed in late 2023 or early 2024.
Subscribers to the GMI Oil & Gas Pipelines Project Database can click here to read a related project report.
The other companies in the Pathways Alliance are Canadian Natural Resources Limited (NYSE:CNQ) (Calgary, Alberta), Cenovus Energy Incorporated (NYSE:CVE) (Calgary), Suncor Energy Incorporated (NYSE:SU) (Calgary), the Canadian division of ConocoPhillips (NYSE:COP) (Houston, Texas), and MEG Energy Corporation (Calgary, Alberta).
Overall, Imperial plans to invest US$17 billion in lower-emissions initiatives through 2027.
Also part of Imperial's 2024 capital program is a US$750 million infrastructure project at the Kearl aboveground oil sands mine in Fort McKay, Alberta, which will transition the surface tailing pond to an in-pit tailings pond. Subscribers to the Metals & Minerals Project Database can read a detailed project report. Kearl is jointly owned by Imperial (70.96%) and ExxonMobil Canada (29.04%).
Subscribers can click here for a list of all projects mentioned in this article and click here for related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
