Imperial profit more than doubles in third quarter

Canada’s Imperial Oil Ltd posted a quarterly profit on Friday that more than doubled as volume of production rose and the oil and gas producer earned more from refining crude.

The company, majority owned by Exxon Mobil, reported a net profit of $749 million, or 94 cents per share, in the third quarter ended Sept. 30, from $371 million, or 44 cents per share, a year earlier.

Imperial said gross production rose to 393,000 barrels of oil equivalent per day (boe/d) from 390,000 boe/d, a year earlier.

(Reuters)