Imperial Oil Ltd has reported 462,000 gross barrels of oil equal per day (boepd) in common manufacturing within the third quarter, the corporate’s highest quarterly output in over 30 years, with Kearl recording its highest-ever quarterly gross manufacturing at 316,000 bpd.
Nonetheless, web revenue for the July-September interval fell CAD 698 million ($496.98 million) year-on-year to CAD 539 million, or CAD 1.07 per diluted share. The lower was “primarily pushed by a non-cash impairment of the Calgary Imperial Campus [CAD 406 million before taxation] and the beforehand introduced restructuring cost [CAD 330 million pre-tax]”, the Canadian oil sands producer, majority-owned by Exxon Mobil Corp, mentioned in its quarterly report.
On September 29 Imperial introduced a restructuring plan that it expects will scale back its workforce by about 20 % by 2027, minimize annual bills by CAD 150 million by 2028 and “consolidate actions to its working websites”.
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Kearl accounted for 224,000 bpd of Imperial’s web manufacturing within the third quarter. Chilly Lake, one hundred pc owned by Imperial, produced 150,000 bpd, in comparison with 147,000 bpd in Q3 2024. “The corporate’s share of Syncrude manufacturing averaged 78,000 gross barrels per day”, down from 81,000 bpd in Q3 2024, Imperial mentioned.
Refinery throughput averaged 425,000 bpd, rising from 389,000 bpd in Q3 2024 and representing capability utilization of 98 % “together with progressing deliberate turnaround work at Sarnia”, it mentioned.
Oil product gross sales averaged 464,000 bpd, down from 487,000 bpd in Q3 2024 “primarily attributable to decrease volumes within the provide and wholesale channels”, it mentioned. Petrochemical gross sales totaled 173,000 metric tons, up from 76,000 metric tons in Q3 2024.
Internet pure gasoline manufacturing was 28 million cubic toes a day (MMcfd), down from 30 MMcfd in Q3 2024.
Within the prior three-month interval, Imperial accomplished what chair, president and chief govt John Whelan mentioned is the corporate’s “heaviest deliberate turnaround quarter in each our upstream and downstream companies”.
Q3 2025 income totaled CAD 12.05 billion, down from CAD 13.26 billion for Q3 2024 as decrease oil merchandise gross sales volumes offset greater margins, and bitumen and artificial crude value realizations dropped.
Excluding nonrecurring objects, web earnings landed at CAD 1.09 billion, down CAD 143 million in comparison with the identical quarter a yr in the past. Adjusted earnings per share for Q3 2025 got here at CAD 2.17.
Money flows from working actions totaled CAD 1.8 billion, up from CAD 1.49 billion for Q3 2024.
Imperial ended Q3 2025 with CAD 1.86 billion in money and money equivalents.
It maintained a dividend of 72 Canadian cents per share.
“Our operations delivered sturdy outcomes throughout the board, as we continued to execute on our technique to maximise worth from our property by rising volumes at decrease unit money prices, and returning surplus money to our shareholders in a well timed method”, Whelan mentioned.
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