Imperial Oil Q1 net profit increases to $1.2B, driven by higher fuel demand amid tight supply.
Imperial Oil reported a Q1 net profit of $1.2B ($2.23/share), up from $1.25B in 2022, driven by higher fuel demand amid tight supply. However, refinery throughput volumes fell to 407,000 bpd from 417,000 bpd in 2022, due to maintenance activities. The company's production averaged 421,000 gross oil-equivalent barrels per day, up from 413,000 in 2022.
April 26, 2024
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