In 2001, Conoco purchased Gulf Canada for C$6.7 billion in what was then the largest oil and gas transaction in Canadian history.

In 2015, Gulf-branded gas stations returned to Canada through a licensing deal between XTR Energy Company Limited and Gulf Oil International U.K.

Canadian Gulf Oil made several discoveries in the late 1940s and early 1950s including at Pincher Creek in 1948, Fenn-Big Valley in 1950, Westernore in 1952, and Boundary Lake in 1955.

In the 1940s Gulf Oil began acquiring shares of British American, and by 1956 held the controlling interest of 25.6 per cent.

Canadian Gulf had considerable unused write-offs, and thus British American was able to decrease its income tax by $29.7 million.

O&Y later purchased the remaining production, refining, and distribution assets through its new wholly owned subsidiary, Gulf Canada Corporation (GCC).

At the time of purchase, GCC owned 2,500 service stations across Canada, was the third-largest oil producer and sixth-largest gas producer in the country, owned three Canadian refineries outright and has a half interest in a fourth, was also active in the Hibernia oil field off Newfoundland and in the Beaufort Sea in the Arctic.

[6][7] On September 30, 1985, Gulf Canada sold its downstream business located west of Quebec (including its refining, transportation, and marketing assets, but excluding the Edmonton refinery) for C$900 million to Petro-Canada.

[8] On January 1, 1986, Gulf Canada sold its remaining downstream business located east of Ontario to Ultramar for C$86 million.

[12] In March 1986, GCC launched a takeover bid for Hiram Walker Resources (HWR), a distillery company (Gooderham & Worts) with significant assets in the oil and gas industry: Home Oil Company Ltd., with major assets in North America, the North Sea, Indonesia, and Australia; Consumer's Gas Company Ltd., a major gas distribution utility; and the largest ownership stake in Interprovincial Pipeline Ltd..

[15] In 1992, GCC's parent company O&Y faced collapse due to an overwhelming debt burden and was taken over by a group of creditor banks with assistance from the Canadian government.

[1][21] Charles C. Hay, 1969 Dr Avelette M. "Jerry" McAfee, 1969–1976 John L. Stoik, 1976–1985 S. Keith McWalter, 1985–1990 Charles E. Shultz, 1990–1995 James P. Bryan Jr, 1995–1998 Richard H. Auchinleck, 1998–2001 Clarence D. Shepard, 1969–1979 John C. Phillips, 1979–1985 S. Keith McWalter, 1985–1990 Robert J. Butler, 1990–1993 H. Earl Joudrie, 1993–2001