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Imperial Oil Profits from War-Driven Fuel Demand
Published 2 weeks ago
Description
Imperial Oil capitalizes on soaring diesel and jet fuel prices, boosting production and sales. Despite refinery downtime, they maximize output, feeding Canada and considering exports. Airlines grapple with fuel surcharges and route cuts due to price hikes. Upstream, production increases, with Kearl mine hitting 259,000 barrels despite gas outage. Q1 profit drops to $940M from $1.29B, missing analyst expectations.
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