v3.25.4
Business segments (Detail) - CAD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues and other income      
Revenues [1] $ 46,918 $ 51,359 $ 50,702
Investment and other income 160 173 267
Total revenues and other income 47,078 51,532 50,969
Expenses      
Exploration 7 3 5
Purchases of crude oil and products [2] 29,807 33,184 32,399
Production and manufacturing [3] 7,269 6,599 6,879
Selling and general [3] 1,386 945 857
Federal excise tax and fuel charge 1,715 2,535 2,402
Depreciation and depletion 2,579 1,983 1,907
Non-service pension and postretirement benefit 41 3 82
Financing [4] 12 41 69
Total expenses 42,816 45,293 44,600
Income (loss) before income taxes 4,262 6,239 6,369
Income taxes 994 1,449 1,480
Net income (loss) 3,268 4,790 4,889
Cash flows from (used in) operating activities 6,708 5,981 3,734
Capital and exploration expenditures 2,027 1,867 1,778
Property, plant and equipment      
Cost 60,031 58,048 56,200
Accumulated depreciation and depletion (29,168) (27,241) (25,365)
Net property, plant and equipment 30,863 30,807 30,835
Total assets 42,309 42,938 41,199
Corporate and other      
Revenues and other income      
Revenues 0 0 0
Investment and other income 65 86 143
Total revenues and other income 65 86 143
Expenses      
Exploration 0 0 0
Purchases of crude oil and products 0 0 0
Production and manufacturing 21 17 0
Selling and general 588 154 80
Federal excise tax and fuel charge 0 0 0
Depreciation and depletion 454 40 29
Non-service pension and postretirement benefit 41 3 82
Financing 26 37 62
Total expenses 1,130 251 253
Income (loss) before income taxes (1,065) (165) (110)
Income taxes (261) (36) (22)
Net income (loss) (804) (129) (88)
Cash flows from (used in) operating activities (282) 69 (37)
Capital and exploration expenditures 124 187 175
Property, plant and equipment      
Cost 1,349 1,226 1,038
Accumulated depreciation and depletion (457) (410) (371)
Net property, plant and equipment 892 816 667
Total assets 3,658 2,962 2,366
Eliminations      
Revenues and other income      
Revenues (22,404) (24,962) (23,125)
Total revenues and other income (22,404) (24,962) (23,125)
Expenses      
Exploration 0 0 0
Purchases of crude oil and products (22,396) (24,955) (23,120)
Production and manufacturing 0 0 0
Selling and general (8) (7) (5)
Federal excise tax and fuel charge 0 0 0
Depreciation and depletion 0 0 0
Non-service pension and postretirement benefit 0 0 0
Financing 0 0 0
Total expenses (22,404) (24,962) (23,125)
Income (loss) before income taxes 0 0 0
Income taxes 0 0 0
Net income (loss) 0 0 0
Cash flows from (used in) operating activities 40 (12) 10
Capital and exploration expenditures 0 0 0
Property, plant and equipment      
Cost 0 0 0
Accumulated depreciation and depletion 0 0 0
Net property, plant and equipment 0 0 0
Total assets (2,036) (164) (474)
Upstream | Intersegment Eliminations      
Revenues and other income      
Revenues 15,645 17,868 16,274
Upstream | Operating Segments      
Revenues and other income      
Revenues 291 121 222
Investment and other income 14 26 16
Total revenues and other income 15,950 18,015 16,512
Expenses      
Exploration 7 3 5
Purchases of crude oil and products 6,263 7,367 6,636
Production and manufacturing 5,015 4,644 4,917
Selling and general 0 0 0
Federal excise tax and fuel charge 0 0 0
Depreciation and depletion 1,906 1,747 1,680
Non-service pension and postretirement benefit 0 0 0
Financing (14) 4 7
Total expenses 13,177 13,765 13,245
Income (loss) before income taxes 2,773 4,250 3,267
Income taxes 652 988 755
Net income (loss) 2,121 3,262 2,512
Cash flows from (used in) operating activities 3,606 4,664 3,100
Capital and exploration expenditures 1,480 1,078 1,108
Property, plant and equipment      
Cost 49,388 47,920 46,776
Accumulated depreciation and depletion (23,351) (21,658) (19,936)
Net property, plant and equipment 26,037 26,262 26,840
Total assets 29,111 28,042 28,718
Downstream | Intersegment Eliminations      
Revenues and other income      
Revenues 6,371 6,771 6,509
Downstream | Operating Segments      
Revenues and other income      
Revenues 45,638 50,114 49,241
Investment and other income 81 59 108
Total revenues and other income 52,090 56,944 55,858
Expenses      
Exploration 0 0 0
Purchases of crude oil and products 45,017 49,856 47,886
Production and manufacturing 1,992 1,741 1,702
Selling and general 725 706 693
Federal excise tax and fuel charge 1,710 2,531 2,399
Depreciation and depletion 203 181 183
Non-service pension and postretirement benefit 0 0 0
Financing 0 0 0
Total expenses 49,647 55,015 52,863
Income (loss) before income taxes 2,443 1,929 2,995
Income taxes 574 443 694
Net income (loss) 1,869 1,486 2,301
Cash flows from (used in) operating activities 3,372 1,049 608
Capital and exploration expenditures 412 572 472
Property, plant and equipment      
Cost 8,265 7,887 7,368
Accumulated depreciation and depletion (4,602) (4,430) (4,301)
Net property, plant and equipment 3,663 3,457 3,067
Total assets 11,036 11,624 10,114
Chemical | Intersegment Eliminations      
Revenues and other income      
Revenues 388 323 342
Chemical | Operating Segments      
Revenues and other income      
Revenues 989 1,124 1,239
Investment and other income 0 2 0
Total revenues and other income 1,377 1,449 1,581
Expenses      
Exploration 0 0 0
Purchases of crude oil and products 923 916 997
Production and manufacturing 241 197 260
Selling and general 81 92 89
Federal excise tax and fuel charge 5 4 3
Depreciation and depletion 16 15 15
Non-service pension and postretirement benefit 0 0 0
Financing 0 0 0
Total expenses 1,266 1,224 1,364
Income (loss) before income taxes 111 225 217
Income taxes 29 54 53
Net income (loss) 82 171 164
Cash flows from (used in) operating activities (28) 211 53
Capital and exploration expenditures 11 30 23
Property, plant and equipment      
Cost 1,029 1,015 1,018
Accumulated depreciation and depletion (758) (743) (757)
Net property, plant and equipment 271 272 261
Total assets $ 540 $ 474 $ 475
[1]
(a) Amounts from related parties included in revenues (note 16).13,534 14,654 16,166 
[2]
(b) Amounts to related parties included in purchases of crude oil and products
       (note 16).
5,369 6,651 6,747 
[3]
(c) Amounts to related parties included in production and manufacturing,
       and selling and general expenses (note 16).
568541473
[4]
(d) Amounts to related parties included in financing (note 16).97161169