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Imperial Oil Marks First Production at Grand Rapids Project Using Lower Emission Technology

By Robb M. Stewart

Imperial Oil plans to ramp up at its Grand Rapids project in Alberta after achieving first oil production with a recovery technology that aims to cut emissions.

The. ....

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UPDATE 3-Imperial Oil posts quarterly loss, warns pandemic impact will drag on

(Adds details from earnings call)
CALGARY, Alberta, Feb 2 (Reuters) - Imperial Oil Ltd , one of Canada’s biggest oil producers and refiners, posted a quarterly loss on Tuesday and warned that the hit to fuel demand resulting from the coronavirus pandemic may drag on well into 2021.
Along with the rest of Canada’s oil and gas industry, Imperial endured a very difficult 2020. Crude prices recovered in the final months of the year amid optimism over global vaccine rollouts, but fuel demand remains muted.
Imperial, majority-owned by U.S. oil major Exxon Mobil Corp , reported a quarterly loss of C$1.15 billion, or C$1.56 per share, hit by a C$1.17 billion impairment charge on some abandoned unconventional assets in Alberta. ....

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