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Company News

Imperial Oil reports profit in second quarter

July 27 (Reuters) - Canada’s Imperial Oil Ltd on Friday reported a profit in the second quarter compared with a year-earlier loss, helped by growth in its refining and chemicals businesses.

The company, majority owned by Exxon Mobil, reported a net profit of C$196 million ($149.9 million) or 24 Canadian cents per share in the three months ended June 30, compared with a loss of C$77 million or 9 Canadian cents per share a year earlier.

Imperial said production slipped to 296,000 barrels of oil equivalent per day (boe/d) from 297,000 boe/d, a year earlier. ($1 = 1.3075 Canadian dollars) (Reporting by John Benny in Bengaluru)

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