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Company News

Imperial Oil profit more than doubles

Nov 2 (Reuters) - Canada’s Imperial Oil Ltd on Friday posted a quarterly profit that more than doubled as volume of production rose and the oil and gas producer earned more from refining crude.

The company, majority owned by Exxon Mobil, reported a net profit of C$749 million ($573.42 million), or 94 Canadian cents per share, in the third quarter ended Sept 30, from C$371 million, or 44 Canadian cents per share, a year earlier.

Imperial said gross production rose to 393,000 barrels of oil equivalent per day (boe/d) from 390,000 boe/d, a year earlier. ($1 = 1.3062 Canadian dollars) (Reporting by John Benny in Bengaluru; Editing by Arun Koyyur)

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