Today Gulf has diverse interests: forest products, natural gas distribution, distilled spirits and pipelines. It has consolidated its interests in Consumers Gas Co, Hiram Walker-Gooderham & Worts and Interprovincial Pipe Line into GW Utilities. O&Y held 75% of Gulf; however, in 1992 O&Y placed these holdings in the custody of the Toronto Dominion Bank as collateral for a $2.5 billion (US) loan. O&Y's problems led to the TD and other creditors of O&Y taking over Gulf through a new entity, A&G Resources. The banks managed to sell a portion of their share to help re-capitalize the company but they remain the largest shareholder with 52%. In 1995 Gulf had revenues of $718 million, assets of $2.9 billion and 700 employees.
Author DEBORAH C. SAWYER
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The website for ConocoPhillips Canada. This company acquired Gulf Canada Resources Limited in 2001. Find out about company history and operations. Features an overview of the technology being used to recover oil from some of Alberta's vast oil sands deposits.
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