February 1, 2019 / 1:06 PM / in 2 years

Imperial Oil reports fourth-quarter profit

Feb 1 (Reuters) - Canada’s integrated oil company Imperial Oil Ltd on Friday posted a quarterly profit, driven by gains from cheap crude prices at its refining division.

Imperial, majority owned by Exxon Mobil Corp, said its net profit in the fourth quarter ended Dec. 31 was C$853 million ($649.2 million), or C$1.08 per share.

The Calgary, Alberta-based company had posted a net loss of C$137 million, or 16 Canadian cents per share, a year earlier, due to a surge in refining and oil production costs.

The company took impairment charges of C$566 million in the year-ago quarter.

$1 = 1.3140 Canadian dollars Reporting by Shradha Singh in Bengaluru; Editing by James Emmanuel

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