The
However, its second quarter earnings declined from the first quarter of 2021, when it earned
Imperial attributed the decrease to significant planned turnaround activity, weaker downstream margins and foreign exchange rates.
The company says its production for the second quarter averaged 401,000 boe per day, the highest second quarter production in more than 25 years. It says its Kearl oilsands mine in northern
Imperial says lingering effects of the weak 2020 business environment and the COVID-19 pandemic continued to have a negative impact on the company's financial results in the first half of 2021, but strengthening crude oil prices mean the outlook is improving.
"The decisive actions Imperial took throughout the pandemic to accelerate structural business improvements have enabled the company to recover strongly," CEO
"Imperial has significant momentum entering the second half of the year and is well-positioned to continue delivering on its commitments."
West Texas Intermediate averaged
Corson says with major turnarounds at Kearl and the company's
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Companies in this story: (TSX:IMO)
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