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Canada's Imperial Oil posts profit on higher crude prices

Published 2017-04-28, 08:02 a/m
© Reuters. Canada's Imperial Oil posts profit on higher crude prices
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April 28 (Reuters) - Imperial Oil Ltd IMO.TO , Canada's No.2 integrated oil producer and refiner, on Friday reported a quarterly profit compared with a year-ago loss, helped by higher global crude prices and a C$151 million gain from the sale of a property.

The company, 69.6 percent owned by Exxon Mobil Corp (NYSE:XOM) XOM.N , said net income was C$333 million ($244.17 million), or 39 Canadian cents per share, in the first quarter, compared with a loss of C$101 million, or 12 Canadian cents, a year earlier. revenue jumped 37 percent to C$7.16 billion. ($1 = 1.3638 Canadian dollars)

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