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Imperial Oil reports $3-million profit in Q3, production up from previous quarter

Imperial profit dives

Imperial Oil Ltd. posted a profit of $3 million in its latest quarter down from a profit of $424 million in the same quarter last year.

The company says the profit amounted to zero cents per diluted share for the quarter ended Sept. 30, compared with a profit of 56 cents per diluted share a year ago.

Revenue totalled $5.96 billion, down from $8.74 billion in the same quarter last year.

Imperial says production averaged 365,000 gross oil-equivalent barrels per day, compared with 407,000 in the same period of 2019.

However, production was up from 347,000 gross oil-equivalent barrels per day in the second quarter of 2020.

Refinery throughput averaged 341,000 barrels per day, compared with 363,000 in the third quarter of 2019.



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