Imperial Oil 1Q Net Income Falls

Dow Jones04-26

By Robb M. Stewart

Imperial Oil earnings in the latest quarter slipped thanks to a fall downstream income that offset higher upstream production earnings.

The Exxon Mobil-controlled Canadian energy company's first-quarter net income slipped to 1.2 billion Canadian dollars ($874.9 million), or C$2.23 a share, from C$1.25 billion, or C$2.13, a year earlier.

The oil and gas producer's revenue edged up 1.3% to C$12.28 billion.

Imperial's upstream business recorded a 13% increase in revenue for the period and its downstream division saw a 1.2% increase, while and its chemicals operation logged a 3.2% drop in revenue.

Crude oil production averaged a net 416,000 barrels a day, up from 406,000 a year earlier, while natural gas output fell 25% to average 30 million cubic feet daily. Refinery throughput for the quarter was 407,000 barrels a day, down from 417,000 in the same period last year.

On an oil-equivalent basis, upstream production averaged 421,000 gross barrels a day, up from 413,000 last year but missing the 425,100 barrels that analysts polled by FactSet were expecting.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

April 26, 2024 08:26 ET (12:26 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Stewart \n</p>\n<pre>\n \n</pre>\n<p>\n  Imperial Oil earnings in the latest quarter slipped thanks to a fall downstream income that offset higher upstream production earnings. \n</p>\n<p>\n  The Exxon Mobil-controlled Canadian energy company's first-quarter net income slipped to 1.2 billion Canadian dollars ($874.9 million), or C$2.23 a share, from C$1.25 billion, or C$2.13, a year earlier. \n</p>\n<p>\n  The oil and gas producer's revenue edged up 1.3% to C$12.28 billion. \n</p>\n<p>\n  Imperial's upstream business recorded a 13% increase in revenue for the period and its downstream division saw a 1.2% increase, while and its chemicals operation logged a 3.2% drop in revenue. \n</p>\n<p>\n  Crude oil production averaged a net 416,000 barrels a day, up from 406,000 a year earlier, while natural gas output fell 25% to average 30 million cubic feet daily. 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Stewart \n\n\n \n\n\n  Imperial Oil earnings in the latest quarter slipped thanks to a fall downstream income that offset higher upstream production earnings. \n\n\n  The Exxon Mobil-controlled ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BKDWB100.SGD","symbol_name":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2430276019","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430276019","pubTimestamp":1714134360,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Imperial Oil earnings in the latest quarter slipped thanks to a fall downstream income that offset higher upstream production earnings.The Exxon Mobil-controlled Canadian energy company's first-quarter net income slipped to 1.2 billion Canadian dollars , or C$2.23 a share, from C$1.25 billion, or C$2.13, a year earlier.The oil and gas producer's revenue edged up 1.3% to C$12.28 billion.Imperial's upstream business recorded a 13% increase in revenue for the period and its downstream division saw a 1.2% increase, while and its chemicals operation logged a 3.2% drop in revenue.Crude oil production averaged a net 416,000 barrels a day, up from 406,000 a year earlier, while natural gas output fell 25% to average 30 million cubic feet daily. 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Stewart \n\n\n \n\n\n  Imperial Oil earnings in the latest quarter slipped thanks to a fall downstream income that offset higher upstream production earnings. \n\n\n  The Exxon Mobil-controlled Canadian energy company's first-quarter net income slipped to 1.2 billion Canadian dollars ($874.9 million), or C$2.23 a share, from C$1.25 billion, or C$2.13, a year earlier. \n\n\n  The oil and gas producer's revenue edged up 1.3% to C$12.28 billion. \n\n\n  Imperial's upstream business recorded a 13% increase in revenue for the period and its downstream division saw a 1.2% increase, while and its chemicals operation logged a 3.2% drop in revenue. \n\n\n  Crude oil production averaged a net 416,000 barrels a day, up from 406,000 a year earlier, while natural gas output fell 25% to average 30 million cubic feet daily. 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Stewart at robb.stewart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 26, 2024 08:26 ET (12:26 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430276019"}