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Imperial Oil Limited - $IMO STOCK NEWS

Welcome to our dedicated page for Imperial Oil news (Ticker: $IMO), a resource for investors and traders seeking the latest updates and insights on Imperial Oil stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Imperial Oil's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Imperial Oil's position in the market.

Rhea-AI Summary

Imperial has commenced oil production using new technology at its Grand Rapids project, located in Cold Lake. This marks the first commercial deployment of the solvent-assisted, steam-assisted gravity drainage (SA-SAGD) technology. The project is expected to reduce greenhouse gas emissions intensity by up to 40% compared to existing methods. Production will ramp up to 15,000 barrels per day. This initiative supports Imperial's goal to cut emissions intensity at its oil sands operations by 30% by 2030. The technology uses a lighter oil mixed with steam for more efficient oil recovery. Imperial aims to transition 40% of its production to this lower-emission technology by 2030.

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-2.21%
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Rhea-AI Summary

Imperial Oil (TSE: IMO, NYSE American: IMO) announced the successful election of all seven director nominees at its annual meeting of shareholders. With 488,715,570 shares represented, each director received overwhelming support from shareholders. The company reaffirmed its position as a pioneer in technological innovation within Canada's energy sector.

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-2.26%
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Rhea-AI Summary

Imperial announced the appointment of Cheryl Gomez-Smith as Senior Vice President, Upstream, effective May 1, 2024, succeeding Simon Younger. Younger has been appointed Lead Country Manager and General Manager Australia Conventional, ExxonMobil Upstream. Cheryl Gomez-Smith brings extensive global experience and expertise to the role, focusing on operational performance, production growth, and cost reduction.

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0.65%
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management
Rhea-AI Summary
Imperial Oil (IMO) has declared a second quarter 2024 dividend of 60 cents per share, showcasing its long history of growth and financial stability in Canada. The company has paid dividends annually for over a century and increased its annual dividend payment for 29 consecutive years.
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-0.8%
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dividends earnings
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Rhea-AI Summary
Imperial (IMO) announces strong first quarter 2024 financial and operating results, with net income of $1,195 million, cash flows of $1,076 million, and upstream production of 421,000 barrels per day. The company achieved record production at Kearl and progress on key projects like Cold Lake Grand Rapids. Downstream operations also performed well, with a refinery capacity utilization of 94 percent and the Esso brand achieving No.1 retail market share in Canada. The company declared a quarterly dividend of 60 cents per share and filed regulatory applications for the Pathways Alliance carbon capture and storage project.
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Imperial Oil , listed on TSE: IMO and NYSE American, will host a 2024 First Quarter Earnings Call on April 26. The event will feature Brad Corson, CEO, and Peter Shaw, VP of Investor Relations, offering insights on the company's performance.
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Rhea-AI Summary
Imperial Oil Limited (IMO) has declared a quarterly dividend of 60 cents per share, payable on April 1, 2024, to shareholders of record at the close of business on March 4, 2024. The company has a long history of growth and financial stability, paying dividends for over a century and increasing its annual dividend payment for 29 consecutive years. Imperial is a leader in applying technology and innovation to responsibly develop Canada’s energy resources, serving as Canada’s largest petroleum refiner, a major producer of crude oil, a key petrochemical producer, and a leading fuels marketer.
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Rhea-AI Sentiment
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-1.28%
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dividends earnings
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Rhea-AI Summary
Imperial (TSE: IMO) (NYSE American: IMO) reported a quarterly net income of $1,365 million with cash flow from operating activities of $1,311 million. The company returned over $2.7 billion to shareholders, including a 20% increase in the quarterly dividend. Upstream production reached 452,000 gross oil-equivalent barrels per day, while downstream operating performance was strong with refinery capacity utilization of 94%. The company also released its annual corporate Sustainability report, outlining its sustainability focus areas and progress.
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Imperial Oil Limited (IMO) will host a 2023 Fourth Quarter Earnings Call on Friday, February 2, following the company’s fourth quarter earnings release. The event begins at 9 a.m. MT and will be accessible by webcast. The webcast will be available for one year on the company’s website. Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada’s energy resources.
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0.49%
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Rhea-AI Summary
Imperial (IMO) provides 2024 corporate guidance outlook, focusing on maximizing existing assets, reducing emissions, and delivering industry-leading returns to shareholders. The company plans to profitably grow volumes at Kearl, produce from the industry's first solvent-assisted SAGD project with Cold Lake Grand Rapids, and advance construction on Canada's largest renewable diesel facility at Strathcona refinery. Capital spending is forecast at $1.7 billion with production expected to be between 420,000 and 442,000 gross oil equivalent barrels per day in the Upstream and between 385,000 and 400,000 barrels per day in the Downstream.
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Imperial Oil Limited

NYSE:IMO

IMO Rankings

IMO Stock Data

36.99B
162.74M
69.6%
26.43%
3.23%
Petroleum Refineries
Manufacturing
Link
United States of America
CALGARY

About IMO

after more than a century, imperial continues to be an industry leader in applying technology and innovation to responsibly develop canada’s energy resources. as the country’s largest petroleum refiner, a major producer of crude oil and natural gas, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business. our people are fundamental to our success. as an integrated company, we are able to offer exciting opportunities throughout all aspects of the value chain: upstream, downstream, petrochemicals, fuels marketing and research. we encourage and facilitate professional development tailored to each career path and stage. your role with imperial is the first step towards a career filled with challenge, opportunity and accomplishment. twitter.com/imperialoil youtube.com/imperialoil