Imperial Oil reports $1.73 billion Q4 profit, up from $813 million a year earlier

Source: Imperial Oil Limited

Imperial Oil Ltd. says its fourth-quarter profit more than doubled compared with a year earlier, helped by a strong operating performance across all its business.

The company says it earned $1.73 billion or $2.86 per diluted share for the quarter, up from $813 million or $1.18 per diluted share a year earlier.

Total revenue and other income for the three-month period amounted to $14.45 billion, up from $12.31 billion in the fourth quarter of 2021.

Imperial says upstream production in the fourth quarter averaged 441,000 gross oil-equivalent barrels per day compared with 445,000 in the same period of 2021

Refinery throughput averaged 433,000 barrels per day for the quarter, up from 416,000 barrels per day a year earlier.

Last week, Imperial announced it would go ahead with a $720-million project to build a renewable diesel facility at its Strathcona refinery near Edmonton.

© 2023 The Canadian Press

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