Imperial Oil's revenue jumps boosted by higher prices, production

Thu Jul 31, 2014 8:14am EDT
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July 31 (Reuters) - Imperial Oil Ltd, Canada's No.2 integrated oil company, reported higher second-quarter revenue, driven by increased bitumen prices and production.

The company, 69.6 percent owned by Exxon Mobil Corp, said total revenue and other income rose 26.3 percent to C$10.05 billion ($9.21 billion) in the second quarter ended June 30.

Imperial Oil's net income rose to C$1.23 billion, or C$1.45 per share, from C$327 million, or 38 Canadian cents per share, a year earlier.

This latest quarter included a C$478 million gain associated with the sale of interests in several conventional upstream producing assets. ($1 = 1.0917 Canadian Dollars) (Reporting by Scott Haggett in Calgary and Sneha Banerjee in Bangalore; Editing by Savio D'Souza)