Imperial Oil's profit rises 19 pct

Thu May 1, 2014 8:11am EDT
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May 1 (Reuters) - Imperial Oil Ltd, Canada's No.2 integrated oil company, reported a 19 percent jump in quarterly profit as production grew and prices rose.

The company, 69.6 percent owned by Exxon Mobil Corp, said net income rose to C$946 million ($862.00 million), or C$1.11 per share, in the first quarter ended March 31 from C$798 million, or 94 Canadian cents per share, a year earlier.

Production averaged 330,000 gross oil-equivalent barrels per day, up from 284,000 barrels a year ago.

Imperial's average realizations from the sales of synthetic crude oil increased 11 percent. ($1 = 1.0975 Canadian Dollars) (Reporting by Scott Haggett in Calgary and Ashutosh Pandey in Bangalore; Editing by Joyjeet Das)