UPDATE 1-Imperial Oil profit jumps 19 pct as output, prices rise
* Production grows 16 pct
* Kearl oil sands mine output up 35 pct sequentially
* Synthetic crude average realizations up 11 pct (Adds details, background)
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 due to a rise in West Texas Intermediate (WTI) crude oil benchmark price, which rose about 5 percent, and the impact of a weaker Canadian dollar.
The company's average bitumen realizations were C$65.19 per barrel compared with $43.63 per barrel a year ealier as the price spread between light crude oil and bitumen narrowed.
Average realizations on natural gas sales nearly doubled to C$6.56 per thousand cubic feet. Continued...