BNN: Imperial Oil posts profit on higher crude prices
Imperial Oil Ltd (IMO.TO), Canada's No. 2 integrated oil producer and refiner, on Friday reported a quarterly profit compared with a year-ago loss, helped by higher global crude prices and a $151-million gain from the sale of a property.
The company, 69.6 per cent owned by Exxon Mobil Corp (XOM.N), said net income was $333 million (US$244.17 million), or 39 cents per share, in the first quarter, compared with a loss of $101 million, or 12 cents, a year earlier.
Total revenue jumped 37 per cent to $7.16 billion.