Imperial Oil forecasts higher production for 2025 (updated)

Imperial Oil

12/12/2024 13:13

(Adds details on oil sands production in paragraph 2 and
details on capex in paragraph 4)
       Dec 12 (Reuters) - Canada's Imperial Oil  IMO.TO 
forecast higher crude production in 2025 on Thursday, as it
expects to ramp up output from existing oil sands assets. 
    The company, majority-owned by Exxon Mobil  XOM.N , expects
higher production from its Kearl and Cold Lake oil sands assets
in Alberta. 
    Imperial forecast 2025 production in the range of  433,000
to 456,000 barrels of oil equivalent per day, compared to
420,000 to 442,000 boped it forecast for 2024.
    The company also said that it expects capital spend of C$1.9
to C$2.1 billion for next year, higher from the C$1.8 to C$1.9
billion forecasted for 2024.        
    

 (Reporting by Sourasis Bose and Seher Dareen in Bengaluru;
Editing by Tasim Zahid)
 ((Seher.Dareen@thomsonreuters.com; If in India call +91 74832
70128;))