CALGARY — Imperial Oil Ltd. says it earned $1.6 billion in the third quarter of 2023, down from $2.0 billion in the prior year’s quarter.
The Calgary-based oil company says its profit worked out to $2.76 per share, compared with $3.24 per share in the same three-month period of 2022.
Imperial reported upstream production in the third quarter of 423,000 gross oil-equivalent barrels per day on average.
The company’s Kearl oilsands site reported its highest-ever quarterly production at 295,000 total gross oil-equivalent barrels per day.
Refinery throughput in the quarter averaged 416,000 barrels per day with refinery capacity utilization of 96 per cent.
Imperial says its quarterly cash flow from operating activities was $2.4 billion.
This report by The Canadian Press was first published Oct. 27, 2023.
Companies in this story: (TSX:IMO)
The Canadian Press
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