Imperial Oil Stock Price, News & Analysis

Imperial Oil Limited (TSE: IMO, NYSE American: IMO) will host its 2022 Investor Day on March 10 at 8 a.m. MT, featuring updates on operations and business strategy. CEO Brad Corson and VP of Investor Relations Dave Hughes will lead the session, which includes a Q&A segment. Interested parties can register for a live webcast, which will be accessible for one year on the company’s website. Imperial is Canada’s largest petroleum refiner and a significant crude oil producer, committed to high operational standards and innovation.

Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced a quarterly dividend of 34 cents per share, payable on April 1, 2022, to shareholders of record as of March 3, 2022. This marks an increase from the 27 cents per share dividend declared for the fourth quarter of 2021. With over a century of dividend payments, Imperial has raised its annual dividend for 27 consecutive years, reflecting its financial stability and growth in Canada's petroleum industry.

Imperial Oil reported a fourth quarter net income of $813 million and cash flow from operating activities of $1,632 million, despite impacts from extreme cold weather. Full-year net income reached $2,479 million, the highest since 2014. The company achieved its highest annual Upstream production in over 30 years, driven by record Kearl production. Shareholder returns totaled nearly $3 billion in 2021, highlighted by a 26% dividend increase. Imperial also committed to a 30% reduction in GHG emissions intensity by 2030, supporting its goal for net-zero emissions by 2050.

Imperial Oil has announced plans to reduce its greenhouse gas emissions intensity from oil sands operations by 30% by 2030, using next-generation technologies and carbon capture solutions. The company reaffirms its goal for net zero emissions by 2050, collaborating with governments and industry partners. This initiative builds on a successful 20% reduction in emissions intensity from 2013 to 2016, supported by $2.1 billion invested in research and technology. Imperial is a founding member of the Oil Sands Pathways to Net Zero alliance, aiming to achieve net zero emissions in oil sands operations by 2050.

Imperial Oil Limited (TSE: IMO, NYSE American: IMO) will host its 2021 Fourth Quarter Earnings Call on February 1, starting at 9 a.m. MT. CEO Brad Corson will provide brief remarks before addressing questions from analysts. The earnings release will take place earlier that day. The event will be available via webcast, which will be accessible for one year on the company's investor relations website. Imperial Oil is a leading player in Canada's energy sector, focusing on responsible resource development.

Imperial Oil (NYSE American: IMO) announced plans to market its 50% interest in XTO Energy Canada, a joint venture with ExxonMobil Canada. This includes substantial assets in the Montney and Duvernay shale areas of Alberta, covering 568,000 net acres in Montney and 85,000 net acres in Duvernay. Net production from these assets totals approximately 140 million cubic feet of natural gas and 9,000 barrels of oil per day. The company continues operations as normal during this evaluation, retaining RBC Capital Markets as a financial advisor.

ExxonMobil has acquired a 49.9% stake in Biojet AS, a Norwegian company focused on producing lower-emissions biofuels from wood waste. This agreement allows ExxonMobil to purchase up to 3 million barrels of biofuels annually. Biojet AS plans to build five facilities, with commercial production starting in 2025.

The project is expected to significantly reduce greenhouse gas emissions in the transportation sector, meeting advanced fuel requirements in Norway and the EU. ExxonMobil continues its commitment to invest in lower-emission energy solutions.

Imperial Oil has updated its corporate guidance for 2022, emphasizing a strategy focused on maximizing asset performance and prioritizing shareholder returns. Capital expenditure is projected at $1.4 billion, supporting key projects such as the Kearl in-pit tailings and Sarnia products pipeline. Upstream production is estimated between 425,000 and 440,000 barrels per day, with Kearl aiming for 280,000 barrels daily ahead of schedule. Downstream throughput is expected to be 395,000 to 405,000 barrels per day with utilization rates at 92% to 94%.

Imperial Oil Limited (NYSE: IMO) announced its plan to accelerate share buybacks under its normal course issuer bid (NCIB). The company can repurchase up to 35,583,671 shares by January 2022, having already bought 11,956,028 shares as of October 2021. With an average purchase price of $42.70, the accelerated plan could return over $1 billion to shareholders. The company emphasizes its commitment to shareholder returns through dividends and share repurchases, evaluating further options for cash return.