July 31, 2008 / 6:49 PM / 9 years ago

Imperial Oil profit soars with oil and gas prices

CALGARY, Alberta (Reuters) - Second-quarter profit at Imperial Oil Ltd (IMO.TO) surged 61 percent to a company record as sky-high oil and gas prices more than made up for lower output, Canada’s No. 2 oil producer and refiner said on Thursday.

Imperial earned C$1.15 billion ($1.13 billion), or C$1.28 a share, up from year-earlier C$712 million, or 76 Canadian cents a share.

($1=$1.02 Canadian)

Reporting by Jeffrey Jones; editing by Rob Wilson

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