Saturday, February 22, 2025
Imperial Oil's quarterly profit beats estimates on higher crude prices- oil and gas 360

Imperial Oil’s quarterly profit beats estimates on higher crude prices

Reuters: Canada’s Imperial Oil Ltd (IMO.TO) edged past quarterly profit estimates on Friday, benefiting from a recovery in Canadian crude prices following Alberta’s mandated production cuts. The company, which recently appointed Exxon veteran Brad Corson as CEO, said the price differential between U.S. and Canadian oil narrowed significantly during the fourth quarter to average about $16 per barrel compared with

Imperial Oil's quarterly profit beats estimates on higher crude prices- oil and gas 360

Phillips 66 profit cut by more than half in 4th quarter

Houston Chronicle Houston refining and pipeline company Phillips 66 on Friday reported a $689 million fourth-quarter profit, 51 percent less than the same period in 2018. The fourth quarter performance resulted in Phillips 66 closing 2019 with a nearly $3.7 billion profit, a 35 percent drop from the previous year when favorable margins in the refining of domestic crude oil

Chevron posts $6.6 billion loss in the fourth quarter-oil and gas 360

Chevron posts $6.6 billion loss in the fourth quarter

CNBC Chevron on Friday posted a $6.6 billion loss in the fourth quarter due to $10.4 billion worth of write-offs related to shale gas production in Appalachia and deep-water projects in the Gulf of Mexico. In December, the company warned that this charge would be $10 billion to $11 billion. Shares slid 3.4% on Friday after the company reported $36.35