#headquarters

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Imperial Oil restructuring announcement : Calgary exit, Edmonton hub, JVs & logistics shift

XOM and Imperial Oil decide to divest Calgary-based non-core assets and restructure to stay competitive in a shifting regional and global energy market:

1- Calgary Quarry Park HQ: Sold to Brookfield, monetizing underutilized space. This mirrors Imperial’s real move to donate its former research centre and labs to SAIT, reinforcing a Calgary real estate pullback.

2- Corporate functions: Relocated to Edmonton, aligning headquarters with upstream operations.

3- Employee impact: Calgary staff offered relocation to operational or refinery sites, redeployment packages, or voluntary exits.

4- Cold Lake & Kearl: Continue to run as profitable oil sands assets, with upgrader units ensuring bitumen flows meet refinery specs. Over time, Imperial phases in project-level JVs with partners like Suncor and Cenovus on select expansions — sharing cost, technology, and risk without ceding full control.

5- Logistics & infrastructure (Midstream segment): Throughput and tariff agreements renegotiated with Enbridge and TC Energy, leveraging planned Mainline expansions and ~$2.5B Enbridge system upgrades. Rail partnerships with CN and CPKC improve flexibility to U.S. Gulf and Midwest markets.

6- Downstream operations:
Strathcona refinery (Edmonton) remains a central hub, now with renewable diesel capacity.
Sarnia refinery & chemical complex anchors the eastern market.
Nanticoke refinery complements Sarnia, strengthening Imperial’s Ontario downstream footprint.

Staff relocations tied into these downstream assets keep talent aligned with refining/chemical demand centers.

#Restructuring #Relocation #Headquarters #JointVenture #Logistics

Let’s Be Real

I truly think Headquarters should be moved to Richardson. As long as HQ is in Chicago, the “Chicago Way of Doing Things” will continue to prevail over our company culture. Talking a good game, but not really looking out for our members… giving in to political pressure over doing what’s right…. Looking good is more important than being good…

Our company has been in a downward spiral ever since PHH said we were ‘in it to win it’ in regards to the healthcare exchange after the Affordable Healthcare Act was passed. I appreciated her vision and that of Paula after her, but HCSC did not move quickly enough to modernize our systems, too many decision makers stifled and snuffed out true innovation. Projects and great ideas get stalled in committee to this day. We are wanting to grow grow grow, but we aren’t insightful enough to truly be ready for the growth. HCSC employees do our best but we can’t work round the clock, 365 days a year. Dedication cannot overcome lack of true leadership from the top.

I’m proud of every employee that has stayed the course. Our members deserve our best, and I see if from my fellow employees and our direct management every day.

#Headquarters #Culture #Leadership #HealthInsurance