Imperial confirmed today that its Kearl oil sands operation has safely started ramping up production to normal rates following the return to service of a third-party diluent pipeline. The production impact of the outage is still being determined and will be updated at a later date. Imperial’s first priority continues to be the safety of our employees, contractors and the communities where we operate. Cautionary statement [...]
Imperial today confirmed it is undertaking a controlled ramp down at its Kearl oil sands operation due to an ongoing outage on a third-party diluent pipeline related to a release that was detected on August 29, 2020. All production at the Kearl operation has ceased at this time, and the facilities remain ready to ramp up to full production rates once the diluent pipeline is back in service and diluent supply is restored [...]
Imperial Oil Ltd. today declared a quarterly dividend of 22 cents per share on the outstanding common shares of the company, payable on October 1, 2020, to shareholders of record at the close of business on September 4, 2020. This third quarter 2020 dividend compares with the second quarter 2020 dividend of 22 cents per share. Imperial has a long and successful history of growth and financial stability in Canada as a [...]
Imperial Oil Ltd. : Net loss of $526 million primarily driven by lower Upstream realizations and Downstream margins Managed operational and financial impacts of COVID-19 Optimized turnaround activities at key assets with significant cost efficiencies Reduced year-to-date production and manufacturing expenses by over $450 million versus 2019 Year-to-date capital expenditures on track to meet reduced guidance of $1.1 [...]
Brad Corson, chairman, president and chief executive officer, and Dave Hughes, vice-president investor relations, Imperial Oil Ltd., will host a 2020 Second Quarter Earnings Call on Friday, July 31, following the company’s second quarter earnings release. The event begins at 9 a.m. MT and will be accessible by webcast. During the call, Mr. Corson will offer brief remarks prior to taking questions from Imperial’s covering [...]
Imperial Oil Ltd. announced today that it has received final acceptance from the Toronto Stock Exchange for a limited normal course issuer bid to repurchase up to 50,000 common shares during the next 12 months. The NCIB will be used primarily to eliminate dilution from shares issued in conjunction with Imperial’s restricted stock unit plan. In 2002, Imperial introduced a RSU plan pursuant to which shares may be issued [...]
Imperial announced today the appointment of S.P. Younger as Senior Vice President, Upstream, effective June 1, 2020. Mr. Younger, currently Vice President, Production, Imperial, succeeds J.R. Whelan, who has been appointed Vice President, Global Heavy Oil, ExxonMobil Upstream Oil and Gas. “On behalf of Imperial, I would like to thank John Whelan for his outstanding leadership and guidance as Senior Vice President [...]
Imperial announced at its annual meeting of shareholders held on May 1, 2020, that each of the seven nominees proposed as directors of the company and listed in its management proxy circular dated March 13, 2020 were elected as directors. A total of 668,985,598 shares were represented in person or by proxy. The percentage of shares represented at the meeting that were voted to elect the individual directors are set out [...]
Imperial Oil Ltd. today declared a quarterly dividend of 22 cents per share on the outstanding common shares of the company, payable on July 1, 2020, to shareholders of record at the close of business on June 4, 2020. This second quarter 2020 dividend compares with the first quarter 2020 dividend of 22 cents per share. Imperial has a long and successful history of growth and financial stability in Canada as a leading [...]
Imperial Oil Ltd. : Focused on worker health and safety while maintaining energy supply for Canadians during pandemic Financial results impacted by COVID-19 and depressed March crude prices Proactively adjusted business and capital plans in response to market environment Record first quarter production at Kearl and refinery throughput at Strathcona Net loss of $188 million including non-cash charges of $301 million [...]
To support the Government of Canada’s critical emergency response efforts, Imperial is donating 60 tonnes of isopropyl alcohol to be used in disinfectant products. IPA is an ingredient used in medical, health and pharmaceutical applications like hand sanitizer, medical wipes and rubbing alcohol, and Imperial’s donation could help manufacture more than 600,000, 350 ml bottles of hand sanitizer. “Whether it’s through our [...]
To salute healthcare heroes across the country, Imperial is providing up to $2 million in free fuel vouchers to frontline nurses, paramedics and doctors as part of its Heroes Campaign launched in response to the COVID-19 pandemic. Through this promotion, the company is offering 80,000 digital vouchers, each worth $25, to healthcare workers currently providing critical care across Canada. Vouchers can be secured online on [...]
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