Imperial Oil rises on higher Q1 profit

Imperial Oil

02/05/2025 15:29

Updates

** Shares of Canadian oil producer Imperial Oil IMO.TO up 1% at C$94.84

** Company posts a rise in Q1 profit, helped by stronger refining margins and fuel sales business

** Company reports net income in Q1 of C$1.29 billion($933.23 million) compared with C$1.2 billion, a year earlier

** IMO reports petroleum product sales of 455,000 barrels per day, compared with 450,000 bpd a year ago

** However, it reported a fall in its upstream production, total throughput volumes and refinery utilization rate

** "We recognize potential risks from U.S. tariffs on Canadian crude oil, though we believe President Trump is unlikely to reinstate them given the potential impact on U.S. consumer fuel prices," CFRA Research analyst Stewart Glickman

** Including session's moves, shares are up 6.9% YTD

($1 = 1.3828 Canadian dollars)

 (Reporting by Katha Kalia in Bengaluru)

 ((Katha.Kalia@thomsonreuters.com))