Imperial Oil Q1 Earnings Rise on Higher Refining Margins ...Middle East

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Imperial Oil Q1 Earnings Rise on Higher Refining Margins
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Canadian producer Imperial Oil booked a higher net income for the first quarter than a year earlier as industry refining margins improved. Imperial Oil, majority owned by U.S. supermajor ExxonMobil, reported on Friday a net income in the first quarter of US$933 million (C$1.29 billion), up from US$860 million (C$1.19 billion) for the same period of 2024. Net income rose compared to the fourth quarter, too, thanks to improved refining margins, which allowed Imperial Oil to book higher downstream margin capture. Refining margins in North America…

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