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Imperial Oil Ltd reported a 55 percent rise in quarterly profit, as its refining and chemicals businesses benefited from cheaper raw materials, offsetting discounted Canadian crude prices.

The Calgary-based company’s income from refining rose about 37 percent to $521 million in the first quarter.

Constraints related to the export of Canadian heavy crude due to a lack of pipeline capacity and delays in shipping by rail have weighed on the industry, widening Canadian oil’s discount compared to U.S. light crude.

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Imperial’s production fell to 370,000 gross oil-equivalent barrels per day from 378,000 a year earlier due to lower volumes at its Cold Lake oil sands project in northeastern Alberta.

The oil producer and refiner’s net income jumped 55 percent to $516 million, or 62 cents per share, in the quarter ended March 31.

Imperial, which is majority owned by Exxon Mobil Corp , said total revenue and other income rose about 11 percent to $7.93 billion.

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