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President and CEO Rich Kruger of Imperial Oil. (TODD KOROL/REUTERS)
President and CEO Rich Kruger of Imperial Oil. (TODD KOROL/REUTERS)

Imperial Oil’s revenue jumps boosted by higher prices, production Add to ...

Imperial Oil Ltd, Canada’s No.2 integrated oil company, reported higher second-quarter revenue, driven by increased bitumen prices and production.

The company, 69.6 per cent owned by Exxon Mobil Corp, said total revenue and other income rose 26.3 per cent to C$10.05-billion ($9.21-billion) in the second quarter ended June 30.

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Imperial Oil’s net income rose to C$1.23-billion, or C$1.45 per share, from C$327-million, or 38 Canadian cents per share, a year earlier.

This latest quarter included a C$478-million gain associated with the sale of interests in several conventional upstream producing assets.

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