Imperial Oil Q1 Profit Misses Estimates on Lower Volumes

IMPERIAL OIL LTD missed first-quarter profit estimates as unplanned outages and weaker crude pricing offset gains from higher fuel costs. The Calgary-based producer reported net income of C$940 million, falling short of the C$995 million average estimate compiled by LSEG. Lower refinery throughput signals operational friction even as geopolitical tensions in the Middle East support global energy prices.

### Operational Disruptions Curb Refining Output Unplanned downtime and disruptions in synthetic crude feedstock reduced refinery throughput to 384,000 barrels per day (bpd). This represents a decline from 397,000 bpd during the same period a year earlier. Consequently, capacity utilization at Canada facilities dropped to 88% from 91% year-over-year.