Imperial Oil says it can offset potential tariffs on heavy crude at refineries [Video]

The head of Canadian energy giant Imperial Oil Ltd. IMO-T hopes that “diplomacy will prevail” in the looming trade battle with the United States, but is confident that the company will be resilient should tariffs hit the energy sector, thanks to the integration between its production and refineries.

U.S. President Donald Trump has threatened to slap 25-per-cent tariffs on Canadian imports to the United States. On Friday, he said nothing can be done by Canada to forestall tariffs – including on oil and gas.

Brad Corson, president and chief executive of Calgary-based Imperial, said Friday that he and many others from the fossil fuel sector have been trying to educate Americans about the uniquely interwoven nature of the two countries’ energy supplies, and how much that benefits both economies.

In 2023, Canadian crude – most of which came from Alberta’s oil sands, including Imperial’s operations – accounted for about 24 per cent of U.S. refinery output, according to the U.S. …