Canada's Imperial Oil posts profit on higher crude prices
April 28 Imperial Oil Ltd, Canada's No.2 integrated oil producer and refiner, on Friday reported a quarterly profit compared with a year-ago loss, helped by higher global crude prices and a C$151 million gain from the sale of a property.
The company, 69.6 percent owned by Exxon Mobil Corp, said net income was C$333 million ($244.17 million), or 39 Canadian cents per share, in the first quarter, compared with a loss of C$101 million, or 12 Canadian cents, a year earlier.
Total revenue jumped 37 percent to C$7.16 billion. ($1 = 1.3638 Canadian dollars) (Reporting by Ahmed Farhatha in Bengaluru and Nia Williams in Calgary; Editing by Shounak Dasgupta)