1、2011 ANNUAL REPORT SUMMARYBCORPORATE PROFILEImperial Oil Limited(Imperial)is one of Canadas largest corporations and a leading member of the countrys oil and gas industry.?e company is a major producer of crude oil and natural gas,Canadas largest petroleum re?ner,a key petrochemical producer and a l
2、eading marketer with coast-to-coast supply and retail networks.UpstreamDownstreamChemicalIMPERIAL ONLINEImperials website provides services to investors,customers and other interested parties.The information for investors section offers a complete range of investor news,reports and presentations.The
3、 home page features regular share price updates from the Toronto Stock Exchange,as well as news highlights and easy links to a variety of other corporate information.www.imperialoil.caFORWARD?LOOKING STATEMENTSThis report contains forward-looking information on future production,project start-ups an
4、d future capital spending.Actual results could differ materially as a result of market conditions or changes in law,government policy,operating conditions,costs,project schedules,operating performance,demand for oil and natural gas,commercial negotiations or other technical and economic factors.TABL
5、E OF CONTENTS1 2011 year in review2 Letter to shareholders4 The outlook for energy 5 Financial highlights6 Operating highlights10 Upstream14 Kearl feature18 Downstream22 Chemical24 Cost management feature25 Financial summary 30 Frequently used terms32 Information for investors33 Directors and of?cer
6、sON THE COVER:A schematic of Imperial Oils new proprietary para?nic froth treatment(PFT)technology to be employed at the companys upcoming Kearl oil sands mining project.In order to create a pipeline-ready product,PFT was designed to remove some of the asphaltenes from bitumen at lower temperatures