Imperial Oil Limited (IMO) 2013年年度报告「TSX」.pdf

1、Imperial Oil Limited2013 Letter to ShareholdersDelivering superior,long-term valueChairmans message2013 LETTER TO SHAREHOLDERS2013 can be characterized as a year of higher global oil prices coupled with significant industry challenges in Canada.These challenges included market access limitations for

2、 western Canadian crudes and volatility in refining margins and downstream markets.Throughout these business conditions,Imperial continued to focus on managing risks and adding long-term shareholder value.In our base operations we maintained an intense focus on the fundamentals safety,operational in

3、tegrity,reliability and profitability.In our growth areas,we made new strategic investments and ensured quality execution of our large,upstream projects.In short,2013 was a strong year for Imperial during a period of significant change and growth.Against this backdrop,we delivered earnings of$2.8bil

4、lion,or$3.32per share.Return on capital employed remained industry leading at 12.9percent,and annual shareholders return was 11.3 percent.Our results demonstrate the strength of our business model(see next page),which includes full value chain integration from upstream to refining to fuels marketing

5、 and chemicals.To position us for future growth,we invested$8billion in capital and exploration expenditures,more than 95percent directed to upstream opportunities.Highest among our priorities is personnel safety.Despite working more than 44million hours,our second-highest total on record,we achieve

6、d safety performance on par with 2012s best-ever.I would like to compliment our employees and contractors for their unwavering commitment to achieve a workplace where Nobody Gets Hurt.Operationally in 2013,we took several steps to strengthen our Downstream businesses.We made the decision to disconti