Imperial Oil profit rises on higher refining margins

Fri Feb 1, 2013 8:23am EST
 
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Feb 1 (Reuters) - Imperial Oil Ltd, Canada's second-largest oil producer and refiner, said fourth-quarter profit rose 7 percent, helped by higher refining margins.

Imperial, majority-owned by Exxon Mobil Corp and best known for its national chain of Esso service stations, said earnings rose to C$1.08 billion ($1.08 billion), or C$1.26 per share, from C$1.01 billion, or C$1.18 per share, a year earlier.

Analysts on average had expected earnings of 99 Canadian cents per share, according to Thomson Reuters I/B/E/S.

Revenue fell 4 percent to C$7.8 billion.