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Imperial Oil posts $181M loss tied to Alberta wildfires, revenue falls 14%

Imperial Oil had a $181-million loss in its second quarter, mostly due to the wildfires that raged through northern Alberta in May.

The Calgary-based company says the wildfires accounted for $170 million of the reduction in its net income from last year’s second quarter, when the company was profitable. 176 more words

Energy

Imperial Oil posts loss, hurt by Fort McMurray wildfires

Imperial Oil had a $181-million loss in its second quarter, mostly due to the wildfires that raged through northern Alberta in May, sparking a massive evacuation and curtailing oilsands production. 275 more words

Energy

National Energy Board grants Imperial Oil more time to build Mackenzie Gas Project

CALGARY — The National Energy Board is giving Imperial Oil until the end of 2022 to start building the long-delayed Mackenzie Gas Project, a pipeline that would ship natural gas from the Northwest Territories to northern Alberta. 203 more words

Energy

Analysis - Imperial Oil Ltd. Increases Dividend by 9%

Imperial Oil Ltd. announced a regular quarterly dividend of $0.118 per share, a 9 percent increase from the prior rate of $0.108 per share. The dividend will be paid at the new higher rate on July 1, 2016, to shareholders of record at close of business on June 3, 2016. 169 more words

Dividends

Why Imperial Oil Ltd is a 'best-of-all-worlds' story

Imperial Oil Ltd. was upgraded to buy from hold at TD Securities as its underperformance so far in 2016 offers a buying opportunity for investors. 241 more words

Trading Desk

Varcoe: Big contrast in meetings as oil giants grapple with price rollercoaster

Suncor Energy Inc.’s annual meeting this week was so action-packed, they should have sold popcorn outside the Telus Convention Centre.

In contrast, Friday’s annual meeting at Imperial Oil Ltd. 902 more words

Politics

CEOs of TransCanada, Imperial Oil say new emission rules not necessary

The CEOs of two of Canada’s biggest energy companies spoke out Friday against recent moves by federal and provincial governments to toughen emission-based regulations.

Russ Girling, CEO of TransCanada Corp., said he believes new federal requirements that take into account upstream emissions when reviewing pipelines are not needed. 493 more words

Energy