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Imperial Oil Surges with Record Profits, Announces Layoffs

11/1/2025

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Summary

Story summary

Imperial Oil reported third-quarter profit of C$2.17 per share, above analysts' estimate of C$1.92.
The figure was supported by record production and refinery throughput amid lower crude prices.
Imperial Oil will cut its workforce by 20% by end-2027 and move most jobs to the Strathcona Refinery near Edmonton.
Upstream production rose 3.4% to 462,000 boe per day, the highest in over 30 years.

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Story summary

Imperial Oil reported third-quarter profit of C$2.17 per share, above analysts' estimate of C$1.92.
The figure was supported by record production and refinery throughput amid lower crude prices.
Imperial Oil will cut its workforce by 20% by end-2027 and move most jobs to the Strathcona Refinery near Edmonton.
Upstream production rose 3.4% to 462,000 boe per day, the highest in over 30 years.