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Production Up, Profit Down: Imperial Oil Navigates Seasonal Trends In Q1

Imperial Oil Limited IMO reported first-quarter FY24 EPS of C$2.23, higher than C$2.13 a year ago.

Net income declined to C$1.20 billion from C$1.25 billion a year ago, reflecting an expected seasonal decrease in Upstream production volume.

Total revenue and other income stood at C$12.3 billion vs. C$12.1 billion a year ago.

Upstream production averaged 421,000 gross oil-equivalent barrels per day, up from 413,000 gross oil-equivalent barrels per day a year ago. At Kearl asset, quarterly total gross production averaged 277,000 barrels per day (196,000 barrels Imperial’s share, the highest ever first-quarter production in the asset’s history),

Downstream throughput averaged 407,000 barrels daily, reflecting Nanticoke’s highest first-quarter throughput. Refinery capacity utilization was 94%, and petroleum product sales were 450,000 barrels daily.

Average bitumen realized prices increased to C$66.56 per barrel from C$50.33 a year ago, and synthetic crude oil sales price declined to C$93.51 from C$102.45 the prior year.

Operating cash flow stood at C$1.08 billion, and capital and exploration expenditures came in at C$496 million in the quarter.

Dividend: The company paid C$278 million in dividends to shareholders in the quarter. 

Imperial declared a second-quarter dividend of C$0.60 per share, payable on July 1 to shareholders of record as of June 3.

In March, the company said that the regulatory filings began for the proposed Pathways Alliance carbon capture and storage project, starting with transportation network applications. 

Brad Corson, chairman, president and chief executive officer, said, “The regulatory applications represent an important milestone. Our industry has an important role to play in the energy transition, and Imperial remains well positioned to continue pursuing strategic opportunities to reduce emissions, provide economic benefits for local and Indigenous communities and deliver value for our shareholders.”

Also Read: IEA Slashes Oil Demand Forecast: Electric Vehicles and Slowdown Put Brakes on Growth

Price Action: IMO shares are trading lower by 0.60% at $70.84 at the last check Friday.

Photo via Shutterstock

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Wilkes-Barre Area looking to hire 47 professionals with budget boost

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Green power in more ways than one: clean energy and economic development

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Country United States of AmericaUS Virgin IslandsUnited States Minor Outlying IslandsCanadaMexico, United Mexican StatesBahamas, Commonwealth of theCuba, Republic ofDominican RepublicHaiti, Republic ofJamaicaAfghanistanAlbania, People’s Socialist Republic ofAlgeria, People’s Democratic Republic ofAmerican SamoaAndorra, Principality ofAngola, Republic ofAnguillaAntarctica (the territory South of 60 deg S)Antigua and BarbudaArgentina, Argentine RepublicArmeniaArubaAustralia, Commonwealth ofAustria, Republic ofAzerbaijan, Republic ofBahrain, Kingdom ofBangladesh, People’s Republic ofBarbadosBelarusBelgium, Kingdom ofBelizeBenin, People’s Republic ofBermudaBhutan, Kingdom ofBolivia, Republic ofBosnia and HerzegovinaBotswana, Republic ofBouvet Island (Bouvetoya)Brazil, Federative Republic ofBritish Indian Ocean Territory (Chagos Archipelago)British Virgin IslandsBrunei DarussalamBulgaria, People’s Republic ofBurkina FasoBurundi, Republic ofCambodia, Kingdom ofCameroon, United Republic ofCape Verde, Republic ofCayman IslandsCentral African RepublicChad, Republic ofChile, Republic ofChina, People’s Republic ofChristmas IslandCocos (Keeling) IslandsColombia, Republic ofComoros, Union of theCongo, Democratic Republic ofCongo, People’s Republic ofCook IslandsCosta Rica, Republic ofCote D’Ivoire, Ivory Coast, Republic of theCyprus, Republic ofCzech RepublicDenmark, Kingdom ofDjibouti, Republic ofDominica, Commonwealth ofEcuador, Republic ofEgypt, Arab Republic ofEl Salvador, Republic ofEquatorial Guinea, Republic ofEritreaEstoniaEthiopiaFaeroe IslandsFalkland Islands (Malvinas)Fiji, Republic of the Fiji IslandsFinland, Republic ofFrance, French RepublicFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabon, Gabonese RepublicGambia, Republic of theGeorgiaGermanyGhana, Republic ofGibraltarGreece, Hellenic RepublicGreenlandGrenadaGuadaloupeGuamGuatemala, Republic ofGuinea, Revolutionary People’s Rep’c ofGuinea-Bissau, Republic ofGuyana, Republic ofHeard and McDonald IslandsHoly See (Vatican City State)Honduras, Republic ofHong Kong, Special Administrative Region of ChinaHrvatska (Croatia)Hungary, Hungarian People’s RepublicIceland, Republic ofIndia, Republic ofIndonesia, Republic ofIran, Islamic Republic ofIraq, Republic ofIrelandIsrael, State ofItaly, Italian RepublicJapanJordan, Hashemite Kingdom ofKazakhstan, Republic ofKenya, Republic ofKiribati, Republic ofKorea, Democratic People’s Republic ofKorea, Republic ofKuwait, State ofKyrgyz RepublicLao People’s Democratic RepublicLatviaLebanon, Lebanese RepublicLesotho, Kingdom…

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MSN

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Wilkes-Barre Area looking to hire 47 professionals with budget boost

State AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington D.C.West VirginiaWisconsinWyomingPuerto RicoUS Virgin IslandsArmed Forces AmericasArmed Forces PacificArmed Forces EuropeNorthern Mariana IslandsMarshall IslandsAmerican SamoaFederated States of MicronesiaGuamPalauAlberta, CanadaBritish Columbia, CanadaManitoba, CanadaNew Brunswick, CanadaNewfoundland, CanadaNova Scotia, CanadaNorthwest Territories, CanadaNunavut, CanadaOntario, CanadaPrince Edward Island, CanadaQuebec, CanadaSaskatchewan, CanadaYukon Territory, Canada

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Country United States of AmericaUS Virgin IslandsUnited States Minor Outlying IslandsCanadaMexico, United Mexican StatesBahamas, Commonwealth of theCuba, Republic ofDominican RepublicHaiti, Republic ofJamaicaAfghanistanAlbania, People’s Socialist Republic ofAlgeria, People’s Democratic Republic ofAmerican SamoaAndorra, Principality ofAngola, Republic ofAnguillaAntarctica (the territory South of 60 deg S)Antigua and BarbudaArgentina, Argentine RepublicArmeniaArubaAustralia, Commonwealth ofAustria, Republic ofAzerbaijan, Republic ofBahrain, Kingdom ofBangladesh, People’s Republic ofBarbadosBelarusBelgium, Kingdom ofBelizeBenin, People’s Republic ofBermudaBhutan, Kingdom ofBolivia, Republic ofBosnia and HerzegovinaBotswana, Republic ofBouvet Island (Bouvetoya)Brazil, Federative Republic ofBritish Indian Ocean Territory (Chagos Archipelago)British Virgin IslandsBrunei DarussalamBulgaria, People’s Republic ofBurkina FasoBurundi, Republic ofCambodia, Kingdom ofCameroon, United Republic ofCape Verde, Republic ofCayman IslandsCentral African RepublicChad, Republic ofChile, Republic ofChina, People’s Republic ofChristmas IslandCocos (Keeling) IslandsColombia, Republic ofComoros, Union of theCongo, Democratic Republic ofCongo, People’s Republic ofCook IslandsCosta Rica, Republic ofCote D’Ivoire, Ivory Coast, Republic of theCyprus, Republic ofCzech RepublicDenmark, Kingdom ofDjibouti, Republic ofDominica, Commonwealth ofEcuador, Republic ofEgypt, Arab Republic ofEl Salvador, Republic ofEquatorial Guinea, Republic ofEritreaEstoniaEthiopiaFaeroe IslandsFalkland Islands (Malvinas)Fiji, Republic of the Fiji IslandsFinland, Republic ofFrance, French RepublicFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabon, Gabonese RepublicGambia, Republic of theGeorgiaGermanyGhana, Republic ofGibraltarGreece, Hellenic RepublicGreenlandGrenadaGuadaloupeGuamGuatemala, Republic ofGuinea, Revolutionary People’s Rep’c ofGuinea-Bissau, Republic ofGuyana, Republic ofHeard and McDonald IslandsHoly See (Vatican City State)Honduras, Republic ofHong Kong, Special Administrative Region of ChinaHrvatska (Croatia)Hungary, Hungarian People’s RepublicIceland, Republic ofIndia, Republic ofIndonesia, Republic ofIran, Islamic Republic ofIraq, Republic ofIrelandIsrael, State ofItaly, Italian RepublicJapanJordan, Hashemite Kingdom ofKazakhstan, Republic ofKenya, Republic ofKiribati, Republic ofKorea, Democratic People’s Republic ofKorea, Republic ofKuwait, State ofKyrgyz RepublicLao People’s Democratic RepublicLatviaLebanon, Lebanese RepublicLesotho, Kingdom…

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Imperial Oil Ltd (IMO) Q1 2024 Earnings: Strong Performance Amidst Strategic Advancements

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Softball Recap: Marissa Giardina leads a balanced attack to beat Greater Nanticoke Area

Wyoming Area waltzed into their matchup on Friday with four straight wins… but they left with five. They walked away with a 6-2 victory over the Greater Nanticoke Area Trojans. That’s more bragging rights for Wyoming Area, who also won the pair’s last head-to-head.

Alexa Gasek made a splash no matter where she played. She didn’t allow a single earned run while striking out seven over seven innings pitched. Gasek has been nothing but reliable on the mound: she hasn’t given up more than two walks in four consecutive pitching appearances. Gasek was also big at the plate, scoring a run while going 2-for-2.

Gasek wasn’t the only one making solid contact as six players wound up with at least one hit. One of them was Marissa Giardina, who scored two runs and stole a base while going 1-for-3.

Wyoming Area is on a roll lately: they’ve won seven of their last nine matches, which provided a nice bump to their 8-4 record this season. As for Greater Nanticoke Area, their defeat was their fifth straight on the road dating back to last season, which dropped their record down to 1-7.

Wyoming Area will face off against Pittston at 12:00 p.m. on Saturday. Pittston will roll in looking for their eighth straight win, something Wyoming Area surely won’t give up without a fight. As for Greater Nanticoke Area, they will head out on the road to take on Berwick at 4:45 p.m. on Tuesday. Berwick is strutting in with some hitting muscle as they’ve averaged 8 runs per game this season.

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Scholastic Superstars Class of 2024 recognized

State AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington D.C.West VirginiaWisconsinWyomingPuerto RicoUS Virgin IslandsArmed Forces AmericasArmed Forces PacificArmed Forces EuropeNorthern Mariana IslandsMarshall IslandsAmerican SamoaFederated States of MicronesiaGuamPalauAlberta, CanadaBritish Columbia, CanadaManitoba, CanadaNew Brunswick, CanadaNewfoundland, CanadaNova Scotia, CanadaNorthwest Territories, CanadaNunavut, CanadaOntario, CanadaPrince Edward Island, CanadaQuebec, CanadaSaskatchewan, CanadaYukon Territory, Canada

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Country United States of AmericaUS Virgin IslandsUnited States Minor Outlying IslandsCanadaMexico, United Mexican StatesBahamas, Commonwealth of theCuba, Republic ofDominican RepublicHaiti, Republic ofJamaicaAfghanistanAlbania, People’s Socialist Republic ofAlgeria, People’s Democratic Republic ofAmerican SamoaAndorra, Principality ofAngola, Republic ofAnguillaAntarctica (the territory South of 60 deg S)Antigua and BarbudaArgentina, Argentine RepublicArmeniaArubaAustralia, Commonwealth ofAustria, Republic ofAzerbaijan, Republic ofBahrain, Kingdom ofBangladesh, People’s Republic ofBarbadosBelarusBelgium, Kingdom ofBelizeBenin, People’s Republic ofBermudaBhutan, Kingdom ofBolivia, Republic ofBosnia and HerzegovinaBotswana, Republic ofBouvet Island (Bouvetoya)Brazil, Federative Republic ofBritish Indian Ocean Territory (Chagos Archipelago)British Virgin IslandsBrunei DarussalamBulgaria, People’s Republic ofBurkina FasoBurundi, Republic ofCambodia, Kingdom ofCameroon, United Republic ofCape Verde, Republic ofCayman IslandsCentral African RepublicChad, Republic ofChile, Republic ofChina, People’s Republic ofChristmas IslandCocos (Keeling) IslandsColombia, Republic ofComoros, Union of theCongo, Democratic Republic ofCongo, People’s Republic ofCook IslandsCosta Rica, Republic ofCote D’Ivoire, Ivory Coast, Republic of theCyprus, Republic ofCzech RepublicDenmark, Kingdom ofDjibouti, Republic ofDominica, Commonwealth ofEcuador, Republic ofEgypt, Arab Republic ofEl Salvador, Republic ofEquatorial Guinea, Republic ofEritreaEstoniaEthiopiaFaeroe IslandsFalkland Islands (Malvinas)Fiji, Republic of the Fiji IslandsFinland, Republic ofFrance, French RepublicFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabon, Gabonese RepublicGambia, Republic of theGeorgiaGermanyGhana, Republic ofGibraltarGreece, Hellenic RepublicGreenlandGrenadaGuadaloupeGuamGuatemala, Republic ofGuinea, Revolutionary People’s Rep’c ofGuinea-Bissau, Republic ofGuyana, Republic ofHeard and McDonald IslandsHoly See (Vatican City State)Honduras, Republic ofHong Kong, Special Administrative Region of ChinaHrvatska (Croatia)Hungary, Hungarian People’s RepublicIceland, Republic ofIndia, Republic ofIndonesia, Republic ofIran, Islamic Republic ofIraq, Republic ofIrelandIsrael, State ofItaly, Italian RepublicJapanJordan, Hashemite Kingdom ofKazakhstan, Republic ofKenya, Republic ofKiribati, Republic ofKorea, Democratic People’s Republic ofKorea, Republic ofKuwait, State ofKyrgyz RepublicLao People’s Democratic RepublicLatviaLebanon, Lebanese RepublicLesotho, Kingdom…

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Softball Game Recap: Central Columbia Bluejays vs. Wyalusing Valley Rams

Central Columbia was not able to break out of their rough patch on Saturday as the team picked up their fourth straight loss. They wound up on the wrong side of a tough 10-0 walloping at the hands of the Wyalusing Valley Rams. Central Columbia was given a dose of their own medicine in this game as Wyalusing Valley apparently hadn’t forgotten their defeat the last time these teams played back in April of 2023.

For Wyalusing Valley’s part, Josie Ferris and Addisyn Bly did most of the damage at the plate: Ferris went 3-for-4 with five RBI and a run, while Bly scored four runs and stole a base while getting on base in all four of her plate appearances. The team also got some help courtesy of Addison Fluck, who went 2-for-3 with three RBI.

Central Columbia’s loss dropped their record down to 2-5. As for Wyalusing Valley, their win bumped their record up to 4-7.

Central Columbia will head out on the road to face off against Lewisburg at 4:30 p.m. on Tuesday. As for Wyalusing Valley, they will be staying on the road on Monday to face off against Susquehanna at 4:30 p.m.

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MSN

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