Exploration & Production | Quarterly / Earnings Reports | Second Quarter (2Q) Update | Oil Sands | Production Rates
Imperial Oil's Kearl Ramp Up Offset By Lower Volumes Elsewhere
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Imperial Oil has released second quarter 2014 results:
Second quarter highlights Production averaged 287,000 gross oil-equivalent barrels per day, up 11,000 barrels versus 2013. The increase in production was mainly due to continued ramp-up at Kearl, largely offset by significant maintenance impacts at Syncrude and Cold Lake along with the impact of divested conventional assets. Petroleum product sales were 481,000 barrels per day, up 21,000 barrels in the second quarter, consistent with the company's strategy to grow sales in profitable Canadian markets. Capital and exploration expenditures of $1,398 million were primarily directed at the Kearl expansion and Cold Lake Nabiye upstream growth projects. Expenditures were fully funded from current period cash flow from operations and the…- ✓ Full news archive — U.S., Canada & international coverage
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