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BRIEF-Imperial Oil Reduces Spending By $1 Billion

Published 2020-03-31, 07:59 a/m
© Reuters.
IMO
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March 31 (Reuters) - Imperial Oil Ltd IMO.TO :

* IMPERIAL PROVIDES CORPORATE UPDATE, REDUCES SPENDING BY $1 BILLION

* IMPERIAL OIL LTD - UPDATED CAPITAL OUTLOOK OF $1.1 BILLION TO $1.2 BILLION FOR 2020

* IMPERIAL OIL LTD - IDENTIFIED OPPORTUNITIES TO REDUCE OPERATING EXPENSES BY $500 MILLION COMPARED TO 2019 LEVELS

* IMPERIAL OIL LTD - SUSPENDING SHARE REPURCHASES UNDER PROGRAM EFFECTIVE APRIL 1, 2020

* IMPERIAL OIL - IMPACT OF COVID-19,CURRENT BUSINESS ENVIRONMENT, EXPECTED TO RESULT IN NEGATIVE IMPACTS ON CO'S UPSTREAM PRODUCTION OVER NEAR TERM

* IMPERIAL OIL - IMPACT OF COVID-19 EXPECTED TO RESULT IN NEGATIVE IMPACTS ON CO'S DOWNSTREAM REFINERY UTILIZATION AND PRODUCT SALES OVER THE NEAR TERM

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