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BRIEF-Imperial Oil Reports Q4 Loss Per Share C$1.56

Published 2021-02-02, 08:30 a/m
© Reuters.
IMO
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Feb 2 (Reuters) - Imperial Oil Ltd IMO.TO :

* IMPERIAL ANNOUNCES FOURTH QUARTER 2020 FINANCIAL AND OPERATING RESULTS

* Q4 LOSS PER SHARE C$1.56

* Q4 NET LOSS OF $1,146 MILLION, WHICH INCLUDES A NON-CASH IMPAIRMENT CHARGE OF $1,171 MILLION

* QTRLY PRODUCTION AVERAGED 460,000 GROSS OIL-EQUIVALENT BARRELS PER DAY, UP FROM 398,000 BARRELS PER DAY

* QTRLY REFINERY THROUGHPUT AVERAGED 359,000 BARRELS PER DAY, UP FROM 321,000 BARRELS PER DAY IN Q4 OF 2019

* QTRLY TOTAL REVENUES AND OTHER INCOME C$6.03 BILLION VERSUS C$8.12 BILLION

* CAPITAL EXPENDITURES IN 2021 ARE EXPECTED TO BE APPROXIMATELY $1.2 BILLION

* QTRLY PETROLEUM PRODUCT SALES WERE 416,000 BARRELS PER DAY, COMPARED TO 457,000 BARRELS PER DAY IN Q4 OF 2019

* UNFAVOURABLE ECONOMIC IMPACTS APPEAR INCREASINGLY LIKELY TO PERSIST TO SOME EXTENT WELL INTO 2021

* IMPERIAL OIL - DOESN'T EXPECT OPERATION OF UNDERLYING PROJECTS/OUTLOOK FOR PRODUCTION VOL TO BE AFFECTED BY A DOWNWARD REVISION OF REPORTED PROVED RESERVES

* Q4 REVENUE VIEW C$6.74 BILLION -- REFINITIV IBES DATA

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