Imperial Oil reports $1.73-billion Q4 profit, up from $813 million a year earlier

CALGARY –

Imperial Oil Ltd. says its fourth-quarter revenue greater than doubled in contrast with a yr earlier, helped by a powerful working efficiency throughout all of its business.

The firm says it earned $1.73 billion or $2.86 per diluted share for the quarter, up from $813 million or $1.18 per diluted share a yr earlier.

Total income and different earnings for the three-month interval amounted to $14.45 billion, up from $12.31 billion within the fourth quarter of 2021.

Imperial says upstream manufacturing within the fourth quarter averaged 441,000 gross oil-equivalent barrels per day in contrast with 445,000 in the identical interval of 2021

Refinery throughput averaged 433,000 barrels per day for the quarter, up from 416,000 barrels per day a yr earlier.

Last week, Imperial introduced it will go forward with a $720-million undertaking to construct a renewable diesel facility at its Strathcona refinery close to Edmonton.

This report by The Canadian Press was first revealed Jan. 31, 2023.