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Imperial Oil profit slumps as oil prices plunge
February 2, 2015 / 1:16 PM / 3 years ago

Imperial Oil profit slumps as oil prices plunge

Feb 2 (Reuters) - Imperial Oil Ltd , Canada’s second-largest integrated oil producer and refiner, posted a 36.5 percent fall in quarterly profit, hurt by lower crude prices and weaker refining margins.

The company’s net income fell to C$671 million ($529 million), or 79 Canadian cents per share, in the quarter ended Dec. 31 from C$1.06 billion, or C$1.24 per share, a year earlier.

Revenue fell 4 percent to C$8.03 billion.

Exxon Mobil Corp holds 69.6 percent of Calgary-based Imperial Oil. ($1 = C$1.27) (Reporting by Anet Josline Pinto in Bengaluru and by Nia Williams; Editing by Kirti Pandey)

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