May 1, 2020 / 12:04 PM / 3 months ago

Canada's Imperial Oil swings to loss on virus-fueled rout in crude prices

May 1 (Reuters) - Canadian integrated energy company Imperial Oil Ltd posted a first-quarter loss on Friday, recording a C$301 million non-cash charge as crude prices plunged because of excess supply and a drop in demand due to the COVID-19 pandemic.

Imperial posted a loss of C$188 million ($134.18 million), or 25 Canadian cents per share, for the first-quarter ended March 31, compared to a profit of C$293 million, or 38 Canadian cents per share, last year. ($1 = 1.4011 Canadian dollars) (Reporting by Arunima Kumar in Bengaluru: Editing by Bernard Orr)

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