What were the main operational reasons cited for Imperial Oil's lower first-quarter profit?

Imperial Oil's lower first-quarter profit was primarily attributed to three operational issues: (1) a temporary disruption caused by an outage on the TC Energy Fort McKay Mainline, which significantly impacted output; (2) an unplanned outage at Syncrude; and (3) the complex, non-linear relationship between Syncrude and Suncor's Base upgrading operations, which introduced additional operational uncertainty.

How did Imperial Oil's financial results and key operational metrics change year-over-year in Q1?

Imperial Oil's net income fell to C$940 million (C$1.94 per share) in Q1 2024 from C$1.29 billion (C$2.52 per share) a year earlier; total throughput volumes declined to 384,000 barrels per day from 397,000 bpd year-over-year; and refinery utilization dropped to 88% from 91% in the same quarter last year.

Canada's Imperial Oil posts lower first-quarter profit

May 1, 2026

Canada's Imperial Oil posted a lower first-quarter profit of C$940 million due to reduced refinery throughput caused by operational outages at TC Energy Fort McKay Mainline and Syncrude.

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Canada's Imperial Oil posts lower first-quarter profit

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