v3.25.2
Business segments (Detail) - CAD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Revenues and other income          
Revenues [1] $ 11,208 $ 13,348 $ 23,674 $ 25,597  
Investment and other income (note 3) 24 35 75 69  
Total revenues and other income 11,232 13,383 23,749 25,666  
Expenses          
Exploration 0 1 2 2  
Purchases of crude oil and products [2] 7,215 8,856 14,971 16,562  
Production and manufacturing [3] 1,664 1,689 3,350 3,353  
Selling and general [3] 251 221 510 467  
Federal excise tax and fuel charge 372 656 964 1,247  
Depreciation and depletion 478 456 1,009 946  
Non-service pension and postretirement benefit 6 1 11 2  
Financing (note 5) [4] 2 14 0 26  
Total expenses 9,988 11,894 20,817 22,605  
Income (loss) before income taxes 1,244 1,489 2,932 3,061  
Income taxes 295 356 695 733  
Net income (loss) 949 1,133 2,237 2,328  
Cash flows from (used in) operating activities 1,465 1,629 2,992 2,705  
Capital and exploration expenditures 473 462 871 958  
Assets 44,178 44,135 44,178 44,135 $ 42,938
Corporate and other          
Revenues and other income          
Revenues 0 0 0 0  
Investment and other income (note 3) 13 25 29 42  
Total revenues and other income 13 25 29 42  
Expenses          
Exploration 0 0 0 0  
Purchases of crude oil and products 0 0 0 0  
Production and manufacturing 9 3 11 5  
Selling and general 58 29 123 89  
Federal excise tax and fuel charge 0 0 0 0  
Depreciation and depletion 12 10 24 19  
Non-service pension and postretirement benefit 6 1 11 2  
Financing (note 5) 2 13 12 24  
Total expenses 87 56 181 139  
Income (loss) before income taxes (74) (31) (152) (97)  
Income taxes (16) (6) (36) (21)  
Net income (loss) (58) (25) (116) (76)  
Cash flows from (used in) operating activities (63) 9 (137) 190  
Capital and exploration expenditures 29 43 70 91  
Assets 4,510 3,528 4,510 3,528  
Eliminations          
Revenues and other income          
Revenues (5,348) (6,246) (11,696) (12,206)  
Total revenues and other income (5,348) (6,246) (11,696) (12,206)  
Expenses          
Exploration 0 0 0 0  
Purchases of crude oil and products (5,346) (6,244) (11,692) (12,202)  
Production and manufacturing 0 0 0 0  
Selling and general (2) (2) (4) (4)  
Federal excise tax and fuel charge 0 0 0 0  
Depreciation and depletion 0 0 0 0  
Non-service pension and postretirement benefit 0 0 0 0  
Financing (note 5) 0 0 0 0  
Total expenses (5,348) (6,246) (11,696) (12,206)  
Income (loss) before income taxes 0 0 0 0  
Income taxes 0 0 0 0  
Net income (loss) 0 0 0 0  
Cash flows from (used in) operating activities 0 0 (15) 0  
Capital and exploration expenditures 0 0 0 0  
Assets (2,022) (417) (2,022) (417)  
Upstream | Intersegment Eliminations          
Revenues and other income          
Revenues 3,701 4,522 8,106 8,644  
Upstream | Operating Segments          
Revenues and other income          
Revenues 87 29 126 71  
Investment and other income (note 3) (4) 1 10 5  
Total revenues and other income 3,784 4,552 8,242 8,720  
Expenses          
Exploration 0 1 2 2  
Purchases of crude oil and products 1,369 1,900 3,231 3,713  
Production and manufacturing 1,127 1,203 2,303 2,391  
Selling and general 0 0 0 0  
Federal excise tax and fuel charge 0 0 0 0  
Depreciation and depletion 418 396 888 828  
Non-service pension and postretirement benefit 0 0 0 0  
Financing (note 5) 0 1 (12) 2  
Total expenses 2,914 3,501 6,412 6,936  
Income (loss) before income taxes 870 1,051 1,830 1,784  
Income taxes 206 252 435 427  
Net income (loss) 664 799 1,395 1,357  
Cash flows from (used in) operating activities 1,021 1,162 1,222 2,053  
Capital and exploration expenditures 353 267 619 557  
Assets 29,387 28,505 29,387 28,505  
Downstream | Intersegment Eliminations          
Revenues and other income          
Revenues 1,550 1,639 3,387 3,387  
Downstream | Operating Segments          
Revenues and other income          
Revenues 10,862 12,986 23,023 24,865  
Investment and other income (note 3) 15 9 36 21  
Total revenues and other income 12,427 14,634 26,446 28,273  
Expenses          
Exploration 0 0 0 0  
Purchases of crude oil and products 10,952 12,944 22,939 24,535  
Production and manufacturing 466 435 923 856  
Selling and general 175 171 349 333  
Federal excise tax and fuel charge 370 655 961 1,245  
Depreciation and depletion 44 46 89 91  
Non-service pension and postretirement benefit 0 0 0 0  
Financing (note 5) 0 0 0 0  
Total expenses 12,007 14,251 25,261 27,060  
Income (loss) before income taxes 420 383 1,185 1,213  
Income taxes 98 89 279 288  
Net income (loss) 322 294 906 925  
Cash flows from (used in) operating activities 641 384 1,997 391  
Capital and exploration expenditures 90 149 178 302  
Assets 11,784 12,016 11,784 12,016  
Chemical | Intersegment Eliminations          
Revenues and other income          
Revenues 97 85 203 175  
Chemical | Operating Segments          
Revenues and other income          
Revenues 259 333 525 661  
Investment and other income (note 3) 0 0 0 1  
Total revenues and other income 356 418 728 837  
Expenses          
Exploration 0 0 0 0  
Purchases of crude oil and products 240 256 493 516  
Production and manufacturing 62 48 113 101  
Selling and general 20 23 42 49  
Federal excise tax and fuel charge 2 1 3 2  
Depreciation and depletion 4 4 8 8  
Non-service pension and postretirement benefit 0 0 0 0  
Financing (note 5) 0 0 0 0  
Total expenses 328 332 659 676  
Income (loss) before income taxes 28 86 69 161  
Income taxes 7 21 17 39  
Net income (loss) 21 65 52 122  
Cash flows from (used in) operating activities (134) 74 (75) 71  
Capital and exploration expenditures 1 3 4 8  
Assets $ 519 $ 503 $ 519 $ 503  
[1]
(a) Amounts from related parties included in revenues (note 1)4,121 3,657 6,995 7,074 
[2]
(b) Amounts to related parties included in purchases of crude oil and products (note 1)2,142 1,549 2,569 3,222 
[3]
(c) Amounts to related parties included in production and manufacturing, and selling
and general expenses.
130 135 294 285 
[4]
(d) Amounts to related parties included in financing.23 43 49 87