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CALGARY — Imperial Oil Ltd. reported a smaller third-quarter profit compared with a year ago when it benefited from the sale of its retail sites.
The energy company says it earned $371 million or 44 cents per diluted share in its third quarter compared with a profit of $1 billion or $1.18 per share in the same quarter last year.
The year-ago results included a gain of $716 million or 84 cents per share from Imperial’s sale of its retail sites.
Total revenue and other income was $7.16 billion, down from $7.44 billion a year ago.
Production averaged 390,000 gross oil-equivalent barrels per day, compared with 393,000 barrels per day in the same period of 2016.
Imperial says improved performance at its Kearl and Cold Lake operations were offset by the impact of the Syncrude Mildred Lake fire and the continued shutdown of Norman Wells due to the Enbridge Line 21 precautionary pipeline closure.
The Canadian Press
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