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Imperial Oil Ltd (IMO)

  • Oct. 31, 2014, 8:39 AM
    • Canadian Oil Sands (OTCQX:COSWF) reports Q3 net profit fell 65% Y/Y to C$0.18/share, citing lower revenue and foreign exchange-related losses.
    • Q3 sales volume rose to 87,787 bbl/day, up4% Y/Y, but average crude prices fell to C$102.58/bbl from C$112.55 a year earlier, and operating expenses rose to to C$47.73/bbl, up from $46.15.
    • Cuts its annual maximum output target to 100M barrels of oil, down from a previous 104M barrels and an initial forecast of up to 110M barrels.
    • Canadian Oil Sands owns a 37% stake in its main operating asset, Syncrude, with six other companies owning the remainder, including lead operator Exxon Mobil (NYSE:XOM) unit Imperial Oil (NYSEMKT:IMO) and Suncor Energy (NYSE:SU).
  • Jan. 30, 2014, 10:33 AM
    • Imperial Oil (IMO -1.3%) says Q4 earnings fell 2% to C$1.24/share vs. analyst consensus estimate C$0.92, while revenues rose to $8.3B from $7.8B in the year-ago quarter.
    • Total oil and natural gas production fell 1.8% Y/Y, with nat gas production falling around the world and oil output slipping in half the regions where 70%-owner Exxon Mobil operates.
    • IMO says its Kearl oil-sands expansion project remains on target for startup in 2015; the project is expected to produce 110K bbl/day, of which 78K is the company’s share.
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  • Oct. 31, 2013, 10:29 AM
    • Imperial Oil (IMO -0.4%) reports Q3 EPS of $0.76 vs. $0.98 analyst consensus and $1.22 in the year-ago quarter; the decrease is blamed primarily on significantly lower refining margins.
    • Total revenue was $8.6B, up from $8.3B a year earlier but less than the $9.5B consensus.
    • Production averaged 288K boe/day vs. 285K a year ago, with production from the Kearl start-up and Celtic acquisition more than offsetting planned maintenance at Syncrude and natural decline at conventional properties.
    • Net income from downstream operations fell to $46M from $490M a year ago; upstream operations earned $604M, up from $598M a year earlier.
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  • Nov. 1, 2012, 4:40 PM
    Imperial Oil (IMO +4.1%) rose today after reporting Q3 profit and sales that exceeded analysts’ estimates on strong refining unit earnings. Net income jumped 21% to $1.04B, or $1.22/share, from $859M, or $1.01, a year earlier; sales rose 4.9% to $8.34B. Q3 was “stronger than expected,” BMO Capital says, with per-share refining results more than twice the firm's forecast.
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Company Description
Imperial Oil Ltd is engaged in the exploration for, and production and sale of, crude oil and natural gas. The Company's operations are conducted in three main segments namely Upstream, Downstream and Chemical.